Jane Street Group LLC Makes New $524,000 Investment in First United Co. (NASDAQ:FUNC)

Jane Street Group LLC acquired a new stake in shares of First United Co. (NASDAQ:FUNC - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 15,552 shares of the bank's stock, valued at approximately $524,000. Jane Street Group LLC owned approximately 0.24% of First United as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC grew its position in First United by 1.2% in the fourth quarter. Renaissance Technologies LLC now owns 99,795 shares of the bank's stock worth $3,364,000 after acquiring an additional 1,200 shares in the last quarter. Susquehanna International Group LLP grew its position in First United by 565.9% in the fourth quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank's stock worth $3,116,000 after acquiring an additional 78,550 shares in the last quarter. American Century Companies Inc. grew its position in First United by 35.7% in the fourth quarter. American Century Companies Inc. now owns 54,487 shares of the bank's stock worth $1,837,000 after acquiring an additional 14,348 shares in the last quarter. O Shaughnessy Asset Management LLC grew its position in First United by 58.1% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 42,253 shares of the bank's stock worth $1,424,000 after acquiring an additional 15,523 shares in the last quarter. Finally, Angel Oak Capital Advisors LLC bought a new stake in First United in the fourth quarter worth approximately $934,000. 33.27% of the stock is owned by hedge funds and other institutional investors.

First United Price Performance

Shares of FUNC stock traded down $0.18 during mid-day trading on Monday, reaching $29.87. The company's stock had a trading volume of 15,410 shares, compared to its average volume of 22,087. First United Co. has a 1-year low of $19.17 and a 1-year high of $42.50. The company has a market cap of $193.53 million, a P/E ratio of 9.48 and a beta of 0.59. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The firm's 50-day moving average is $29.66 and its two-hundred day moving average is $32.69.

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

First United Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 17th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a yield of 2.95%. The ex-dividend date was Thursday, April 17th. First United's dividend payout ratio is currently 25.29%.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on FUNC shares. 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 research note on Friday, February 7th. Wall Street Zen upgraded shares of First United from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th.

First United Company 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.