First United (NASDAQ:FUNC) Stock Passes Above 200 Day Moving Average – Should You Sell?

First United Co. (NASDAQ:FUNC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $30.29 and traded as high as $34.94. First United shares last traded at $33.05, with a volume of 47,616 shares.

Analyst Upgrades and Downgrades

Separately, StockNews.com raised shares of First United from a “hold” rating to a “buy” rating in a report on Monday, October 7th.

First United Trading Down 0.3 %

The company has a market cap of $213.19 million, a P/E ratio of 13.39 and a beta of 0.81. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. The business has a fifty day moving average price of $34.39 and a 200-day moving average price of $30.44.

First United (NASDAQ:FUNC) last issued its quarterly earnings data on Monday, October 21st. The bank reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10. First United had a return on equity of 12.20% and a net margin of 14.70%. The firm had revenue of $28.17 million for the quarter, compared to analyst estimates of $20.30 million. On average, analysts forecast that First United Co. will post 3.11 earnings per share for the current year.

First United Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 17th will be given a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.67%. The ex-dividend date is Friday, January 17th. First United’s dividend payout ratio is 35.77%.

Institutional Investors Weigh In On First United

Hedge funds and other institutional investors have recently made changes to their positions in the business. Fourthstone LLC grew its position in First United by 30.0% during the third quarter. Fourthstone LLC now owns 441,143 shares of the bank’s stock worth $13,164,000 after buying an additional 101,915 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of First United by 7.0% during the 2nd quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank’s stock worth $7,603,000 after purchasing an additional 24,457 shares in the last quarter. Ritholtz Wealth Management acquired a new stake in shares of First United during the 3rd quarter worth $460,000. Renaissance Technologies LLC increased its position in shares of First United by 14.3% in the second quarter. Renaissance Technologies LLC now owns 82,195 shares of the bank’s stock worth $1,678,000 after purchasing an additional 10,280 shares during the period. Finally, De Lisle Partners LLP raised its stake in First United by 9.0% in the third 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 in the last quarter. 33.27% of the stock is currently owned by institutional investors and hedge funds.

About First United

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.