Susquehanna International Group LLP Acquires 78,550 Shares of First United Co. (NASDAQ:FUNC)

Susquehanna International Group LLP boosted its holdings in shares of First United Co. (NASDAQ:FUNC - Free Report) by 565.9% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 92,430 shares of the bank's stock after acquiring an additional 78,550 shares during the quarter. Susquehanna International Group LLP owned approximately 1.43% of First United worth $3,116,000 at the end of the most recent reporting period.

Other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC raised its holdings in First United by 194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 742 shares of the bank's stock worth $25,000 after acquiring an additional 490 shares during the period. Empowered Funds LLC grew its position 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 valued at $839,000 after purchasing an additional 1,180 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of First United by 1.2% in the fourth quarter. Renaissance Technologies LLC now owns 99,795 shares of the bank's stock valued at $3,364,000 after purchasing an additional 1,200 shares during the last quarter. Bank of New York Mellon Corp increased its stake 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 period. Finally, Trexquant Investment LP lifted its position in shares of First United by 22.4% during the 4th quarter. Trexquant Investment LP now owns 21,156 shares of the bank's stock worth $713,000 after purchasing an additional 3,870 shares during the last quarter. 33.27% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Raymond James raised First United from a "market perform" rating to an "outperform" rating and set a $42.00 target price on the stock in a report on Friday, February 7th. StockNews.com upgraded shares of First United from a "hold" rating to a "buy" rating in a research note on Friday.

First United Stock Performance

Shares of NASDAQ FUNC traded up $1.37 during mid-day trading on Monday, hitting $32.41. The company had a trading volume of 962 shares, compared to its average volume of 23,430. First United Co. has a 12 month low of $19.17 and a 12 month high of $42.50. The firm has a market cap of $209.79 million, a P/E ratio of 10.32 and a beta of 0.59. The business's 50-day simple moving average is $29.68 and its 200-day simple moving average is $32.94. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94.

First United (NASDAQ:FUNC - Get Free Report) last announced its quarterly earnings data 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. The company had revenue of $20.84 million for the quarter, compared to analyst estimates of $20.63 million. First United had a return on equity of 12.51% and a net margin of 18.45%. As a group, analysts predict that First United Co. will post 3.75 earnings per share for the current fiscal year.

First United Dividend Announcement

The firm also recently declared 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 2.72%. The ex-dividend date was Thursday, April 17th. First United's dividend payout ratio (DPR) is presently 25.29%.

First United 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.