Susquehanna International Group LLP Boosts Stake in First United Co. (NASDAQ:FUNC)

Susquehanna International Group LLP grew its holdings in shares of First United Co. (NASDAQ:FUNC - Free Report) by 565.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 92,430 shares of the bank's stock after purchasing an additional 78,550 shares during the period. Susquehanna International Group LLP owned about 1.43% of First United worth $3,116,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC increased its position in shares of First United by 194.4% in the 4th quarter. Tower Research Capital LLC TRC now owns 742 shares of the bank's stock valued at $25,000 after purchasing an additional 490 shares during the last quarter. Barclays PLC acquired a new stake in shares of First United during the 3rd quarter worth about $126,000. Bank of New York Mellon Corp lifted its stake in First United by 31.3% during 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. Ritholtz Wealth Management boosted its holdings in First United by 34.9% in the fourth quarter. Ritholtz Wealth Management now owns 20,786 shares of the bank's stock valued at $701,000 after purchasing an additional 5,374 shares in the last quarter. Finally, Trexquant Investment LP raised its holdings in First United by 22.4% during the fourth quarter. Trexquant Investment LP now owns 21,156 shares of the bank's stock worth $713,000 after purchasing an additional 3,870 shares in the last quarter. 33.27% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research firms have issued reports on FUNC. StockNews.com upgraded shares of First United from a "hold" rating to a "buy" rating in a research note on Friday. Raymond James raised 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 Performance

NASDAQ FUNC traded down $0.04 during trading on Friday, reaching $31.49. The company's stock had a trading volume of 48,702 shares, compared to its average volume of 23,520. The business's fifty day moving average price is $29.68 and its 200-day moving average price is $32.93. First United Co. has a twelve month low of $19.17 and a twelve month high of $42.50. 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 has a market cap of $203.83 million, a price-to-earnings ratio of 10.00 and a beta of 0.59.

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 the consensus estimate 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 for the quarter, compared to analysts' expectations of $20.63 million. As a group, analysts anticipate that First United Co. will post 3.75 EPS for the current fiscal year.

First United Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 17th were given a $0.22 dividend. The ex-dividend date was Thursday, April 17th. This represents a $0.88 dividend on an annualized basis and a yield of 2.79%. First United's dividend payout ratio (DPR) is 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.