Angel Oak Capital Advisors LLC Acquires New Holdings in First United Co. (NASDAQ:FUNC)

Angel Oak Capital Advisors LLC bought a new position in First United Co. (NASDAQ:FUNC) during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 27,700 shares of the bank’s stock, valued at approximately $934,000. First United accounts for 1.2% of Angel Oak Capital Advisors LLC’s investment portfolio, making the stock its 15th largest holding. Angel Oak Capital Advisors LLC owned about 0.43% of First United at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FUNC. Empowered Funds LLC boosted its position in shares of First United by 5.4% during the third quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock worth $708,000 after buying an additional 1,206 shares during the period. Barclays PLC acquired a new position in shares of First United during the 3rd quarter worth approximately $126,000. Ritholtz Wealth Management lifted its stake in shares of First United by 34.9% during the 4th quarter. Ritholtz Wealth Management now owns 20,786 shares of the bank’s stock worth $701,000 after buying an additional 5,374 shares during the last quarter. Point72 Asia Singapore Pte. Ltd. bought a new stake in shares of First United during the third quarter worth approximately $97,000. Finally, De Lisle Partners LLP boosted its stake in First United by 9.0% in the 3rd quarter. De Lisle Partners LLP now owns 120,838 shares of the bank’s stock valued at $3,619,000 after purchasing an additional 10,000 shares during the period. 33.27% of the stock is owned by institutional investors.

First United Stock Performance

Shares of First United stock opened at $40.37 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. The firm has a market capitalization of $261.19 million, a P/E ratio of 12.82 and a beta of 0.81. The business’s fifty day simple moving average is $34.49 and its 200 day simple moving average is $32.18. First United Co. has a 12 month low of $19.17 and a 12 month high of $42.50.

First United (NASDAQ:FUNC) last posted its earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share for the quarter, topping the consensus estimate of $0.86 by $0.09. First United had a net margin of 18.45% and a return on equity of 12.51%. As a group, analysts anticipate that First United Co. will post 3.3 EPS for the current year.

First United Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Stockholders of record on Friday, January 17th were issued a $0.22 dividend. The ex-dividend date of this dividend was Friday, January 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.18%. First United’s payout ratio is 27.94%.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on FUNC shares. StockNews.com lowered First United from a “buy” rating to a “hold” rating in a report on Sunday. Raymond James upgraded shares of First United from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, February 7th.

First United 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.