First United (NASDAQ:FUNC) Upgraded at Wall Street Zen

First United (NASDAQ:FUNC - Get Free Report) was upgraded by equities research analysts at Wall Street Zen from a "hold" rating to a "buy" rating in a note issued to investors on Tuesday.

Separately, Raymond James upgraded First United from a "market perform" rating to an "outperform" rating and set a $42.00 target price for the company in a report on Friday, February 7th.

First United Stock Down 0.8%

NASDAQ:FUNC traded down $0.24 during mid-day trading on Tuesday, reaching $29.94. The company's stock had a trading volume of 17,706 shares, compared to its average volume of 23,287. 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 has a 1 year low of $19.17 and a 1 year high of $42.50. The stock has a fifty day moving average of $29.75 and a 200-day moving average of $32.88. The firm has a market capitalization of $193.98 million, a PE ratio of 9.50 and a beta of 0.59.

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

Institutional Trading of First United

Several hedge funds have recently modified their holdings of the company. Tower Research Capital LLC TRC grew 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 worth $25,000 after buying an additional 490 shares during the last quarter. Barclays PLC acquired a new position in shares of First United during the third quarter valued at about $126,000. Mackenzie Financial Corp purchased a new stake in First United during the 1st quarter worth approximately $236,000. Price T Rowe Associates Inc. MD acquired a new position in First United during the 4th quarter valued at approximately $237,000. Finally, OMERS ADMINISTRATION Corp purchased a new position in shares of First United in the first quarter worth $312,000. 33.27% of the stock is owned by hedge funds and other institutional investors.

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.