First United (NASDAQ:FUNC) Stock Passes Below 200 Day Moving Average - Should You Sell?

Shares of First United Co. (NASDAQ:FUNC - Get Free Report) crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $32.84 and traded as low as $29.58. First United shares last traded at $30.01, with a volume of 19,136 shares trading hands.

Analyst Ratings Changes

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

First United Stock Down 0.3%

The firm has a 50 day moving average of $29.66 and a 200 day moving average of $32.79. The firm has a market cap of $195.47 million, a price-to-earnings 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 (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 the consensus estimate of $0.80 by $0.09. The company had revenue of $20.84 million during the quarter, compared to the consensus estimate of $20.63 million. First United had a net margin of 18.45% and a return on equity of 12.51%. As a group, sell-side analysts predict that First United Co. will post 3.75 earnings per share for the current year.

First United Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Shareholders of record on Thursday, April 17th were paid a $0.22 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.88 dividend on an annualized basis and a yield of 2.92%. First United's dividend payout ratio (DPR) is presently 25.29%.

Institutional Investors Weigh In On First United

A number of hedge funds have recently added to or reduced their stakes in the company. Bridgeway Capital Management LLC grew its position in First United by 0.5% in the 4th quarter. Bridgeway Capital Management LLC now owns 77,761 shares of the bank's stock valued at $2,621,000 after purchasing an additional 380 shares during the period. Tower Research Capital LLC TRC boosted its stake in First United by 194.4% during 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. Huber Capital Management LLC boosted its stake in First United by 0.5% during the 1st quarter. Huber Capital Management LLC now owns 124,239 shares of the bank's stock valued at $3,730,000 after purchasing an additional 625 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in First United by 5.2% during the first quarter. Bank of New York Mellon Corp now owns 16,248 shares of the bank's stock worth $488,000 after purchasing an additional 808 shares during the last quarter. Finally, Trexquant Investment LP boosted its stake in shares of First United by 5.0% in the 1st quarter. Trexquant Investment LP now owns 22,214 shares of the bank's stock worth $667,000 after buying an additional 1,058 shares during the last quarter. Institutional investors and hedge funds own 33.27% of the company's stock.

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.