First United (NASDAQ:FUNC) Given “Buy (B-)” Rating at Weiss Ratings

First United (NASDAQ:FUNC)‘s stock had its “buy (b-)” rating reaffirmed by stock analysts at Weiss Ratings in a report issued on Wednesday,Weiss Ratings reports.

First United Trading Down 0.2%

Shares of First United stock opened at $36.46 on Wednesday. First United has a 52-week low of $24.66 and a 52-week high of $42.50. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.63. The company’s 50-day simple moving average is $35.87 and its 200-day simple moving average is $32.43. The firm has a market cap of $236.63 million, a price-to-earnings ratio of 9.99 and a beta of 0.70.

First United (NASDAQ:FUNC) last issued its quarterly earnings results on Monday, July 21st. The bank reported $0.92 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.84 by $0.08. First United had a net margin of 20.53% and a return on equity of 13.05%. The business had revenue of $21.65 million for the quarter, compared to analyst estimates of $21.26 million. As a group, equities research analysts anticipate that First United will post 3.75 earnings per share for the current year.

Insiders Place Their Bets

In other First United news, Director Irvin Robert Rudy sold 2,000 shares of the company’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $37.35, for a total transaction of $74,700.00. Following the transaction, the director directly owned 37,500 shares in the company, valued at approximately $1,400,625. This represents a 5.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders have bought 309 shares of company stock worth $10,113 in the last quarter. Corporate insiders own 7.90% of the company’s stock.

Institutional Trading of First United

Large investors have recently modified their holdings of the business. TD Waterhouse Canada Inc. purchased a new position in shares of First United during the second quarter valued at approximately $31,000. Police & Firemen s Retirement System of New Jersey purchased a new position in shares of First United during the second quarter valued at approximately $36,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of First United during the second quarter valued at approximately $102,000. New York State Common Retirement Fund purchased a new position in shares of First United during the second quarter valued at approximately $105,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of First United during the second quarter valued at approximately $148,000. 33.27% of the stock is currently owned by institutional investors and hedge funds.

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.