Schonfeld Strategic Advisors LLC Invests $529,000 in First United Co. (NASDAQ:FUNC)

Schonfeld Strategic Advisors LLC acquired a new position in shares of First United Co. (NASDAQ:FUNC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 15,688 shares of the bank's stock, valued at approximately $529,000. Schonfeld Strategic Advisors LLC owned approximately 0.24% of First United at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the company. Price T Rowe Associates Inc. MD acquired a new stake in shares of First United during the 4th quarter worth approximately $237,000. Susquehanna International Group LLP grew its holdings in shares of First United by 565.9% during the 4th quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank's stock worth $3,116,000 after purchasing an additional 78,550 shares in the last quarter. Tower Research Capital LLC TRC grew its holdings in shares of First United by 194.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 742 shares of the bank's stock worth $25,000 after purchasing an additional 490 shares in the last quarter. Marshall Wace LLP lifted its position in shares of First United by 218.9% during the 4th quarter. Marshall Wace LLP now owns 24,146 shares of the bank's stock worth $814,000 after buying an additional 16,574 shares during the period. Finally, Barclays PLC lifted its position in shares of First United by 122.2% during the 4th quarter. Barclays PLC now owns 9,374 shares of the bank's stock worth $317,000 after buying an additional 5,156 shares during the period. Institutional investors and hedge funds own 33.27% of the company's stock.

First United Stock Up 0.1%

First United stock traded up $0.04 during midday trading on Friday, reaching $32.13. The stock had a trading volume of 2,249 shares, compared to its average volume of 23,241. The firm's fifty day simple moving average is $29.65 and its 200-day simple moving average is $32.93. First United Co. has a 1-year low of $19.17 and a 1-year 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 stock has a market capitalization of $208.14 million, a P/E ratio of 10.20 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, topping analysts' consensus estimates of $0.80 by $0.09. The business had revenue of $20.84 million for the quarter, compared to the consensus estimate 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 expect that First United Co. will post 3.75 EPS for the current fiscal year.

First United Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 17th were issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a dividend yield of 2.74%. The ex-dividend date of this dividend was Thursday, April 17th. First United's dividend payout ratio (DPR) is 25.29%.

Analysts Set New Price Targets

Several research firms recently commented on FUNC. 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 research report on Friday, February 7th. StockNews.com raised First United from a "hold" rating to a "buy" rating in a research note on Friday, May 9th.

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.