First United Co. (NASDAQ:FUNC) Shares Sold by Huber Capital Management LLC

Huber Capital Management LLC cut its holdings in First United Co. (NASDAQ:FUNC) by 0.8% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 123,614 shares of the bank’s stock after selling 942 shares during the quarter. Huber Capital Management LLC owned 1.91% of First United worth $4,167,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Empowered Funds LLC increased its holdings in First United by 5.0% in the 4th quarter. Empowered Funds LLC now owns 24,893 shares of the bank’s stock worth $839,000 after acquiring an additional 1,180 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. acquired a new position in shares of First United during the 3rd quarter worth about $97,000. Bank of New York Mellon Corp lifted its stake in First United by 31.3% in the 4th quarter. Bank of New York Mellon Corp now owns 15,440 shares of the bank’s stock valued at $520,000 after buying an additional 3,683 shares in the last quarter. Trexquant Investment LP lifted its stake in First United by 22.4% in the 4th quarter. Trexquant Investment LP now owns 21,156 shares of the bank’s stock valued at $713,000 after buying an additional 3,870 shares in the last quarter. Finally, Barclays PLC acquired a new stake in First United in the 3rd quarter worth about $126,000. 33.27% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on FUNC. Raymond James raised 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 cut shares of First United from a “buy” rating to a “hold” rating in a research note on Saturday, March 29th.

First United Stock Up 1.2 %

Shares of FUNC opened at $30.06 on Thursday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. First United Co. has a 52-week low of $19.17 and a 52-week high of $42.50. The stock has a fifty day simple moving average of $33.97 and a two-hundred day simple moving average of $33.21. The company has a market capitalization of $194.58 million, a PE ratio of 9.54 and a beta of 0.58.

First United (NASDAQ:FUNC) last released its quarterly earnings data on Wednesday, February 5th. The bank reported $0.95 EPS for the quarter, beating analysts’ consensus estimates of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. As a group, equities analysts forecast that First United Co. will post 3.75 EPS for the current year.

First United Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 17th will be issued a $0.22 dividend. The ex-dividend date is Thursday, April 17th. This represents a $0.88 annualized dividend and a yield of 2.93%. First United’s dividend payout ratio (DPR) is currently 27.94%.

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.