Schonfeld Strategic Advisors LLC Purchases New Stake in First United Co. (NASDAQ:FUNC)

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

Several other hedge funds also recently modified their holdings of the business. Susquehanna International Group LLP lifted its holdings in First United by 565.9% in the fourth quarter. Susquehanna International Group LLP now owns 92,430 shares of the bank's stock valued at $3,116,000 after buying an additional 78,550 shares during the period. Angel Oak Capital Advisors LLC acquired a new position in shares of First United in the 4th quarter valued at $934,000. Marshall Wace LLP boosted its position in shares of First United by 218.9% in the 4th quarter. Marshall Wace LLP now owns 24,146 shares of the bank's stock worth $814,000 after purchasing an additional 16,574 shares during the last quarter. O Shaughnessy Asset Management LLC grew its stake in shares of First United by 58.1% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 42,253 shares of the bank's stock worth $1,424,000 after purchasing an additional 15,523 shares during the period. Finally, American Century Companies Inc. increased its holdings in First United by 35.7% in the fourth quarter. American Century Companies Inc. now owns 54,487 shares of the bank's stock valued at $1,837,000 after purchasing an additional 14,348 shares during the last quarter. Institutional investors own 33.27% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on FUNC shares. StockNews.com upgraded First United from a "hold" rating to a "buy" rating in a research report on Friday. 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 note on Friday, February 7th.

First United Stock Down 0.1 %

NASDAQ:FUNC opened at $31.49 on Friday. First United Co. has a 1 year low of $19.17 and a 1 year high of $42.50. The stock has a 50-day moving average price of $29.68 and a two-hundred day moving average price of $32.93. The stock has a market cap of $203.83 million, a price-to-earnings ratio of 10.00 and a beta of 0.59. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70.

First United (NASDAQ:FUNC - Get Free Report) last posted its 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. First United had a return on equity of 12.51% and a net margin of 18.45%. The business had revenue of $20.84 million during the quarter, compared to analysts' expectations of $20.63 million. As a group, equities analysts expect that First United Co. will post 3.75 earnings per share for the current year.

First United Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, May 1st. Investors of record on Thursday, April 17th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.79%. The ex-dividend date was Thursday, April 17th. First United's payout ratio is presently 25.29%.

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.

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