First United Co. (NASDAQ:FUNC) Shares Sold by Citadel Advisors LLC

Citadel Advisors LLC lowered its position in First United Co. (NASDAQ:FUNC - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 17,450 shares of the bank's stock after selling 8,292 shares during the quarter. Citadel Advisors LLC owned about 0.27% of First United worth $588,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Angel Oak Capital Advisors LLC purchased a new stake in shares of First United in the fourth quarter valued at $934,000. American Century Companies Inc. raised its stake in shares of First United by 35.7% in the fourth quarter. American Century Companies Inc. now owns 54,487 shares of the bank's stock valued at $1,837,000 after acquiring an additional 14,348 shares during the period. Jane Street Group LLC bought a new position in shares of First United in the fourth quarter worth about $524,000. Bank of New York Mellon Corp grew its holdings in shares of First United by 31.3% in the fourth quarter. Bank of New York Mellon Corp now owns 15,440 shares of the bank's stock worth $520,000 after purchasing an additional 3,683 shares during the last quarter. Finally, Empowered Funds LLC grew its holdings in shares of First United by 5.0% in the fourth quarter. Empowered Funds LLC now owns 24,893 shares of the bank's stock worth $839,000 after purchasing an additional 1,180 shares during the last quarter. Hedge funds and other institutional investors own 33.27% of the company's stock.

Analyst Upgrades and Downgrades

FUNC has been the topic of several recent research reports. Wall Street Zen upgraded shares of First United from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. Raymond James raised shares of First United from a "market perform" rating to an "outperform" rating and set a $42.00 price target for the company in a research report on Friday, February 7th.

First United Trading Up 0.3%

Shares of FUNC stock traded up $0.08 on Thursday, hitting $29.50. 11,139 shares of the stock traded hands, compared to its average volume of 21,905. The stock has a market capitalization of $191.13 million, a PE ratio of 9.37 and a beta of 0.59. First United Co. has a twelve month low of $19.17 and a twelve month high of $42.50. The firm's 50-day moving average price is $29.62 and its two-hundred day moving average price is $32.61. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94.

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

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.