First United (NASDAQ:FUNC) Stock Price Passes Above 200 Day Moving Average – Here’s What Happened

First United Corporation (NASDAQ:FUNC)’s share price crossed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $36.48 and traded as high as $39.95. First United shares last traded at $39.34, with a volume of 13,716 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of First United in a research report on Wednesday, October 8th. Two analysts have rated the stock with a Buy rating, According to MarketBeat, First United presently has an average rating of “Buy” and an average price target of $42.00.

First United Stock Performance

The firm’s 50 day simple moving average is $38.34 and its 200-day simple moving average is $36.48. The company has a market capitalization of $255.71 million, a price-to-earnings ratio of 10.27 and a beta of 0.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.93 and a current ratio of 0.93.

First United (NASDAQ:FUNC) last issued its earnings results on Tuesday, October 21st. The bank reported $1.07 EPS for the quarter, topping the consensus estimate of $0.89 by $0.18. The business had revenue of $22.80 million during the quarter, compared to analysts’ expectations of $22.13 million. First United had a return on equity of 13.24% and a net margin of 21.02%.During the same quarter last year, the firm posted $0.89 earnings per share. Analysts expect that First United Corporation will post 3.75 EPS for the current year.

First United Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 16th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, January 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.6%. First United’s dividend payout ratio (DPR) is presently 27.15%.

Institutional Trading of First United

A number of hedge funds have recently made changes to their positions in FUNC. Daytona Street Capital LLC acquired a new stake in shares of First United during the fourth quarter worth approximately $1,390,000. JPMorgan Chase & Co. lifted its position in First United by 9.0% in the 3rd quarter. JPMorgan Chase & Co. now owns 5,208 shares of the bank’s stock worth $191,000 after buying an additional 431 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in shares of First United during the 3rd quarter valued at $239,000. Arrowstreet Capital Limited Partnership grew its holdings in shares of First United by 1.2% during the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 101,118 shares of the bank’s stock valued at $3,718,000 after acquiring an additional 1,194 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its holdings in shares of First United by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock valued at $56,000 after acquiring an additional 770 shares in the last quarter. 33.27% of the stock is owned by hedge funds and other institutional investors.

About First United

First United Corporation is a bank holding company that, through its subsidiary First United Bank & Trust, provides a full suite of commercial and consumer banking services to individuals, businesses, and agricultural customers across central Oklahoma. The company offers deposit accounts such as checking, savings, money market and time deposits, alongside a variety of lending solutions covering commercial real estate, construction, agricultural and consumer loans.

In addition to traditional banking products, First United delivers treasury management and cash management solutions designed to streamline client operations, as well as online and mobile banking platforms for account access and payments.