First United (NASDAQ:FUNC) Stock Rating Upgraded by StockNews.com

First United (NASDAQ:FUNC) was upgraded by stock analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued on Tuesday.

Separately, Raymond James raised First United from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a research report on Friday, February 7th.

First United Trading Up 0.3%

Shares of FUNC stock opened at $31.31 on Tuesday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70. First United has a 12-month low of $19.17 and a 12-month high of $42.50. The stock has a market capitalization of $202.86 million, a P/E ratio of 9.94 and a beta of 0.59. The firm’s 50 day moving average is $29.72 and its 200 day moving average is $32.94.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Monday, April 21st. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.80 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. The firm had revenue of $20.84 million for the quarter, compared to analysts’ expectations of $20.63 million. Research analysts expect that First United will post 3.75 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. Millennium Management LLC raised its holdings in First United by 349.9% in the 1st quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock worth $4,220,000 after purchasing an additional 109,340 shares during the period. Susquehanna International Group LLP increased its position in First United by 565.9% in the fourth quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank’s stock worth $3,116,000 after buying an additional 78,550 shares in the last quarter. American Century Companies Inc. raised its stake in shares of First United by 65.2% in the first quarter. American Century Companies Inc. now owns 90,008 shares of the bank’s stock worth $2,702,000 after buying an additional 35,521 shares during the period. Angel Oak Capital Advisors LLC purchased a new position in shares of First United during the 4th quarter valued at about $934,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of First United by 53.2% during the 1st quarter. Goldman Sachs Group Inc. now owns 58,718 shares of the bank’s stock valued at $1,763,000 after acquiring an additional 20,387 shares during the period. Hedge funds and other institutional investors own 33.27% of the company’s stock.

First United Company Profile

First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. It offers various deposit products, which includes checking, savings, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.