First United Corp (NASDAQ:FUNC) saw a significant growth in short interest in the month of June. As of June 30th, there was short interest totalling 162,500 shares, a growth of 22.6% from the May 30th total of 132,500 shares. Approximately 2.4% of the company’s stock are short sold. Based on an average daily trading volume, of 26,700 shares, the short-interest ratio is presently 6.1 days.

Shares of NASDAQ FUNC traded up $0.18 on Friday, hitting $19.73. The company had a trading volume of 8,484 shares, compared to its average volume of 60,590. First United has a 12-month low of $14.75 and a 12-month high of $20.95. The company has a 50 day moving average price of $18.85. The company has a debt-to-equity ratio of 0.85, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $138.55 million, a price-to-earnings ratio of 12.22 and a beta of 0.81.

First United (NASDAQ:FUNC) last issued its earnings results on Tuesday, April 9th. The bank reported $0.44 earnings per share for the quarter. First United had a return on equity of 9.67% and a net margin of 16.38%. The company had revenue of $15.05 million during the quarter.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Wednesday, July 17th will be paid a $0.09 dividend. This represents a $0.36 annualized dividend and a dividend yield of 1.82%. The ex-dividend date is Tuesday, July 16th.

Separately, ValuEngine raised Zogenix from a “buy” rating to a “strong-buy” rating in a research report on Thursday, June 27th.

Several large investors have recently added to or reduced their stakes in FUNC. BNP Paribas Arbitrage SA lifted its stake in shares of First United by 512.7% in the first quarter. BNP Paribas Arbitrage SA now owns 1,446 shares of the bank’s stock worth $25,000 after acquiring an additional 1,210 shares in the last quarter. O Shaughnessy Asset Management LLC acquired a new position in shares of First United in the fourth quarter worth about $64,000. SG Americas Securities LLC acquired a new position in shares of First United in the first quarter worth about $106,000. First Trust Advisors LP lifted its stake in shares of First United by 18.7% in the fourth quarter. First Trust Advisors LP now owns 12,764 shares of the bank’s stock worth $203,000 after acquiring an additional 2,008 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in shares of First United by 5.5% in the fourth quarter. Geode Capital Management LLC now owns 60,041 shares of the bank’s stock worth $955,000 after acquiring an additional 3,128 shares in the last quarter. Institutional investors and hedge funds own 38.80% of the company’s stock.

About First United

First United Corporation operates as the holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; Certificate of Deposit Account Registry Service program and Insured Cash Sweep program to municipalities, businesses, and consumers; and commercial customers packages, which include treasury management, cash sweep, and various checking opportunities.

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