Schonfeld Strategic Advisors LLC Purchases Shares of 15,688 First United Co. (NASDAQ:FUNC)

Schonfeld Strategic Advisors LLC acquired a new position in shares of First United Co. (NASDAQ:FUNC) in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 15,688 shares of the bank’s stock, valued at approximately $529,000.

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

First United Stock Performance

NASDAQ:FUNC opened at $31.49 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. First United Co. has a fifty-two week low of $19.17 and a fifty-two week high of $42.50. The company has a market cap of $203.83 million, a price-to-earnings ratio of 10.00 and a beta of 0.59. The stock has a fifty day moving average price of $29.68 and a 200-day moving average price of $32.93.

First United (NASDAQ:FUNC) last released its earnings results on Monday, April 21st. The bank reported $0.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.80 by $0.09. The firm had revenue of $20.84 million for the quarter, compared to analysts’ expectations of $20.63 million. First United had a return on equity of 12.51% and a net margin of 18.45%. As a group, equities analysts anticipate that First United Co. will post 3.75 EPS for the current fiscal year.

First United Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, May 1st. Stockholders of record on Thursday, April 17th were issued a dividend of $0.22 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $0.88 annualized dividend and a dividend yield of 2.79%. First United’s dividend payout ratio (DPR) is presently 25.29%.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FUNC shares. Raymond James upgraded First United from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a research note on Friday, February 7th. StockNews.com upgraded shares of First United from a “hold” rating to a “buy” rating in a research note on Friday.

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.