10,063 Shares in First United Co. (NASDAQ:FUNC) Bought by 683 Capital Management LLC

683 Capital Management LLC bought a new stake in First United Co. (NASDAQ:FUNC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm bought 10,063 shares of the bank's stock, valued at approximately $339,000. 683 Capital Management LLC owned approximately 0.16% of First United as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently made changes to their positions in the company. Jane Street Group LLC bought a new stake in shares of First United during the fourth quarter worth $524,000. Schonfeld Strategic Advisors LLC purchased a new stake in shares of First United during the 4th quarter valued at $529,000. Price T Rowe Associates Inc. MD acquired a new stake in First United in the fourth quarter worth about $237,000. Susquehanna International Group LLP grew its position in First United by 565.9% during the 4th quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank's stock worth $3,116,000 after purchasing an additional 78,550 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its holdings in shares of First United by 194.4% during the fourth quarter. Tower Research Capital LLC TRC now owns 742 shares of the bank's stock valued at $25,000 after buying an additional 490 shares during the last quarter. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

First United Stock Performance

Shares of First United stock opened at $30.67 on Friday. The business has a 50-day simple moving average of $30.12 and a 200-day simple moving average of $32.93. 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 one year low of $19.17 and a one year high of $42.50. The company has a market cap of $198.53 million, a PE ratio of 9.74 and a beta of 0.59.

First United (NASDAQ:FUNC - Get Free Report) last posted its earnings results on Monday, April 21st. The bank reported $0.89 EPS for the quarter, topping analysts' consensus estimates of $0.80 by $0.09. The business had revenue of $20.84 million for the quarter, compared to analysts' expectations of $20.63 million. First United had a return on equity of 12.51% and a net margin of 18.45%. On average, equities research analysts forecast that First United Co. will post 3.75 EPS for the current fiscal year.

First United Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 17th were issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 2.87%. The ex-dividend date of this dividend was Thursday, April 17th. First United's dividend payout ratio (DPR) is 25.29%.

Analysts Set New Price Targets

FUNC has been the subject of a number of recent research reports. Raymond James upgraded First United from a "market perform" rating to an "outperform" rating and set a $42.00 price objective for the company in a research note on Friday, February 7th. StockNews.com cut First United from a "buy" rating to a "hold" rating in a report on Saturday, March 29th.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.