Bank of America Corp DE Has $393,000 Holdings in First United Co. (NASDAQ:FUNC)

Bank of America Corp DE grew its holdings in shares of First United Co. (NASDAQ:FUNC - Free Report) by 449.4% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 11,648 shares of the bank's stock after purchasing an additional 9,528 shares during the period. Bank of America Corp DE owned approximately 0.18% of First United worth $393,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of FUNC. Susquehanna International Group LLP increased its holdings in shares of First United by 565.9% during the fourth 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 during the period. Angel Oak Capital Advisors LLC acquired a new position in shares of First United during the fourth quarter valued at $934,000. Marshall Wace LLP boosted its stake in First United by 218.9% during the fourth quarter. Marshall Wace LLP now owns 24,146 shares of the bank's stock valued at $814,000 after buying an additional 16,574 shares in the last quarter. Schonfeld Strategic Advisors LLC bought a new position in First United during the fourth quarter valued at about $529,000. Finally, Jane Street Group LLC bought a new position in First United during the fourth quarter valued at about $524,000. 33.27% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, Wall Street Zen raised First United from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th.

First United Trading Down 2.2%

Shares of NASDAQ:FUNC traded down $0.63 during midday trading on Monday, reaching $28.27. The company had a trading volume of 24,910 shares, compared to its average volume of 21,971. First United Co. has a 1-year low of $19.17 and a 1-year high of $42.50. The firm has a market cap of $183.16 million, a price-to-earnings ratio of 8.97 and a beta of 0.61. 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 company has a fifty day simple moving average of $29.88 and a two-hundred day simple moving average of $32.30.

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

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.