First United Co. (NASDAQ:FUNC) Shares Acquired by Fourthstone LLC

Fourthstone LLC increased its position in First United Co. (NASDAQ:FUNC) by 30.0% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 441,143 shares of the bank’s stock after acquiring an additional 101,915 shares during the period. First United makes up 2.9% of Fourthstone LLC’s portfolio, making the stock its 11th biggest position. Fourthstone LLC owned approximately 6.82% of First United worth $13,164,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of First United by 3.6% in the first quarter. Vanguard Group Inc. now owns 308,612 shares of the bank’s stock worth $7,070,000 after purchasing an additional 10,800 shares in the last quarter. Quadrature Capital Ltd bought a new position in shares of First United in the first quarter valued at approximately $298,000. Price T Rowe Associates Inc. MD acquired a new position in shares of First United during the first quarter valued at approximately $209,000. Acadian Asset Management LLC raised its holdings in First United by 72.2% during the second quarter. Acadian Asset Management LLC now owns 66,698 shares of the bank’s stock worth $1,360,000 after purchasing an additional 27,973 shares in the last quarter. Finally, American Century Companies Inc. lifted its position in First United by 13.2% in the second quarter. American Century Companies Inc. now owns 39,947 shares of the bank’s stock worth $816,000 after purchasing an additional 4,645 shares during the period. 33.27% of the stock is owned by institutional investors and hedge funds.

First United Stock Up 0.1 %

Shares of NASDAQ FUNC traded up $0.03 during trading hours on Thursday, hitting $35.56. The stock had a trading volume of 16,422 shares, compared to its average volume of 22,997. The company has a market capitalization of $230.07 million, a P/E ratio of 14.46 and a beta of 0.78. The firm’s 50-day moving average price is $31.93 and its two-hundred day moving average price is $26.89. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. First United Co. has a 52 week low of $18.05 and a 52 week high of $35.89.

First United (NASDAQ:FUNC) last posted its quarterly earnings data on Monday, October 21st. The bank reported $0.89 EPS for the quarter, topping 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 business had revenue of $28.17 million for the quarter, compared to analyst estimates of $20.30 million. Analysts anticipate that First United Co. will post 3.11 EPS for the current fiscal year.

First United Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, January 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.47%. First United’s payout ratio is 35.77%.

Analysts Set New Price Targets

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