Jane Street Group LLC Takes Position in First United Co. (NASDAQ:FUNC)

Jane Street Group LLC bought a new stake in shares of First United Co. (NASDAQ:FUNC - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 15,552 shares of the bank's stock, valued at approximately $524,000. Jane Street Group LLC owned 0.24% of First United as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Schonfeld Strategic Advisors LLC bought a new stake in First United in the fourth quarter valued at $529,000. Price T Rowe Associates Inc. MD purchased a new stake in shares of First United in the 4th quarter worth about $237,000. Susquehanna International Group LLP boosted its stake in shares of First United by 565.9% during the 4th quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank's stock valued at $3,116,000 after purchasing an additional 78,550 shares in the last quarter. Tower Research Capital LLC TRC increased its position 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 period. Finally, Marshall Wace LLP raised its stake in First United by 218.9% in the fourth quarter. Marshall Wace LLP now owns 24,146 shares of the bank's stock worth $814,000 after buying an additional 16,574 shares in the last quarter. Institutional investors own 33.27% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on FUNC shares. Wall Street Zen raised First United from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th. Raymond James upgraded First United from a "market perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a research report on Friday, February 7th.

First United Stock Down 0.3%

Shares of FUNC stock traded down $0.10 during mid-day trading on Friday, reaching $30.17. 10,169 shares of the company's stock traded hands, compared to its average volume of 22,114. The company's 50-day moving average price is $29.66 and its 200-day moving average price is $32.74. The company has a market cap of $195.47 million, a P/E ratio of 9.58 and a beta of 0.59. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. First United Co. has a 12 month low of $19.17 and a 12 month high of $42.50.

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

First United Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 17th were paid a $0.22 dividend. The ex-dividend date was Thursday, April 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.92%. First United's payout ratio is currently 25.29%.

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.