First United Co. (NASDAQ:FUNC) Shares Sold by Basswood Capital Management L.L.C.

Basswood Capital Management L.L.C. cut its holdings in First United Co. (NASDAQ:FUNC) by 1.3% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 153,540 shares of the bank’s stock after selling 1,945 shares during the period. Basswood Capital Management L.L.C.’s holdings in First United were worth $4,582,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the business. Fourthstone LLC grew its position in shares of First United by 30.0% in the third quarter. Fourthstone LLC now owns 441,143 shares of the bank’s stock valued at $13,164,000 after purchasing an additional 101,915 shares during the period. Dimensional Fund Advisors LP grew its holdings in First United by 7.0% in the 2nd quarter. Dimensional Fund Advisors LP now owns 372,330 shares of the bank’s stock valued at $7,603,000 after buying an additional 24,457 shares during the period. Vanguard Group Inc. increased its stake in shares of First United by 3.6% during the 1st quarter. Vanguard Group Inc. now owns 308,612 shares of the bank’s stock valued at $7,070,000 after acquiring an additional 10,800 shares during the last quarter. Huber Capital Management LLC increased its stake in shares of First United by 4.2% during the 2nd quarter. Huber Capital Management LLC now owns 124,556 shares of the bank’s stock valued at $2,543,000 after acquiring an additional 5,000 shares during the last quarter. Finally, De Lisle Partners LLP lifted its holdings in shares of First United by 9.0% during the 3rd quarter. De Lisle Partners LLP now owns 120,838 shares of the bank’s stock worth $3,619,000 after acquiring an additional 10,000 shares during the period. Hedge funds and other institutional investors own 33.27% of the company’s stock.

First United Trading Up 0.2 %

FUNC stock opened at $35.64 on Monday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. The company has a market cap of $230.59 million, a price-to-earnings ratio of 14.49 and a beta of 0.78. The business has a fifty day simple moving average of $32.14 and a 200-day simple moving average of $27.11. First United Co. has a 52 week low of $18.45 and a 52 week high of $35.89.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, October 21st. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.79 by $0.10. The company had revenue of $28.17 million during the quarter, compared to analyst estimates of $20.30 million. First United had a return on equity of 12.20% and a net margin of 14.70%. On average, equities research analysts expect that First United Co. will post 3.11 EPS for the current year.

First United Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Investors of record on Friday, January 17th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, January 17th. This represents a $0.88 annualized dividend and a yield of 2.47%. First United’s payout ratio is 35.77%.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded shares of First United from a “hold” rating to a “buy” rating in a report on Monday, October 7th.

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.