ValuEngine cut shares of First United (NASDAQ:FUNC) from a hold rating to a sell rating in a research report sent to investors on Monday morning, ValuEngine reports.

Shares of NASDAQ:FUNC opened at $12.88 on Monday. The company has a fifty day moving average of $20.22 and a 200-day moving average of $22.74. The company has a market capitalization of $82.29 million, a PE ratio of 6.81 and a beta of 0.82. The company has a debt-to-equity ratio of 0.83, a quick ratio of 0.91 and a current ratio of 0.91. First United has a 52-week low of $11.09 and a 52-week high of $24.99.

First United (NASDAQ:FUNC) last posted its quarterly earnings data on Wednesday, January 29th. The bank reported $0.41 earnings per share for the quarter. First United had a return on equity of 9.58% and a net margin of 17.61%. The business had revenue of $15.91 million during the quarter.

Several hedge funds have recently added to or reduced their stakes in FUNC. Marshall Wace North America L.P. boosted its position in shares of First United by 226.5% during the 4th quarter. Marshall Wace North America L.P. now owns 4,858 shares of the bank’s stock worth $117,000 after purchasing an additional 3,370 shares in the last quarter. Barclays PLC boosted its position in shares of First United by 140.3% during the 4th quarter. Barclays PLC now owns 5,676 shares of the bank’s stock worth $137,000 after purchasing an additional 3,314 shares in the last quarter. Marshall Wace LLP boosted its position in shares of First United by 167.2% during the 4th quarter. Marshall Wace LLP now owns 11,316 shares of the bank’s stock worth $273,000 after purchasing an additional 7,081 shares in the last quarter. Laurion Capital Management LP bought a new position in shares of First United during the 4th quarter worth about $313,000. Finally, First Trust Advisors LP boosted its position in shares of First United by 13.0% during the 3rd quarter. First Trust Advisors LP now owns 14,508 shares of the bank’s stock worth $319,000 after purchasing an additional 1,672 shares in the last quarter. 30.42% of the stock is currently owned by institutional investors.

First United Company Profile

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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