ValuEngine lowered shares of First United (NASDAQ:FUNC) from a buy rating to a hold rating in a research note issued to investors on Friday morning.

First United (NASDAQ FUNC) traded up $0.05 during mid-day trading on Friday, hitting $17.60. The stock had a trading volume of 657 shares, compared to its average volume of 3,257. First United has a 52 week low of $12.55 and a 52 week high of $18.30. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $124.03, a price-to-earnings ratio of 18.87 and a beta of 0.45.

First United (NASDAQ:FUNC) last posted its earnings results on Monday, November 13th. The bank reported $0.25 earnings per share for the quarter. First United had a return on equity of 7.39% and a net margin of 12.80%. The company had revenue of $13.76 million for the quarter.

In related news, Director Irvin Robert Rudy sold 3,500 shares of First United stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $17.42, for a total transaction of $60,970.00. Following the sale, the director now directly owns 31,123 shares in the company, valued at $542,162.66. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 4.00% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. M3F Inc. lifted its holdings in First United by 1.2% during the second quarter. M3F Inc. now owns 635,638 shares of the bank’s stock worth $9,471,000 after acquiring an additional 7,560 shares during the period. Western Standard LLC bought a new stake in First United during the second quarter worth $194,000. Dimensional Fund Advisors LP lifted its holdings in First United by 0.9% during the second quarter. Dimensional Fund Advisors LP now owns 246,846 shares of the bank’s stock worth $3,690,000 after acquiring an additional 2,133 shares during the period. Finally, Northern Trust Corp lifted its holdings in First United by 4.4% during the second quarter. Northern Trust Corp now owns 72,536 shares of the bank’s stock worth $1,081,000 after acquiring an additional 3,050 shares during the period. Institutional investors and hedge funds own 34.58% of the company’s stock.

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First United Company Profile

First United Corporation is a bank holding company. The Company’s primary business is serving as the parent company of First United Bank & Trust (the Bank), First United Statutory Trust I, First United Statutory Trust II and First United Statutory Trust III. It operates through community banking segment.

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