Bridgeway Capital Management Inc. Has $1.15 Million Stake in First United Corp (FUNC)
Bridgeway Capital Management Inc. lifted its holdings in shares of First United Corp (NASDAQ:FUNC) by 15.0% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 61,393 shares of the bank’s stock after acquiring an additional 8,000 shares during the quarter. Bridgeway Capital Management Inc. owned 0.87% of First United worth $1,154,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Strs Ohio increased its position in shares of First United by 116.5% during the third quarter. Strs Ohio now owns 5,412 shares of the bank’s stock worth $101,000 after acquiring an additional 2,912 shares during the last quarter. First Trust Advisors LP purchased a new stake in shares of First United during the third quarter worth about $202,000. Wells Fargo & Company MN increased its position in shares of First United by 71.1% during the third quarter. Wells Fargo & Company MN now owns 14,287 shares of the bank’s stock worth $269,000 after acquiring an additional 5,935 shares during the last quarter. Schwab Charles Investment Management Inc. purchased a new stake in shares of First United during the second quarter worth about $313,000. Finally, Bank of New York Mellon Corp increased its position in shares of First United by 129.9% during the second quarter. Bank of New York Mellon Corp now owns 27,373 shares of the bank’s stock worth $560,000 after acquiring an additional 15,464 shares during the last quarter. 34.50% of the stock is currently owned by institutional investors and hedge funds.
Shares of NASDAQ FUNC opened at $17.93 on Friday. First United Corp has a 1 year low of $16.60 and a 1 year high of $24.32. The stock has a market cap of $125.82 million, a PE ratio of 12.08 and a beta of 0.55. The company has a debt-to-equity ratio of 0.87, a quick ratio of 0.89 and a current ratio of 0.89.
First United 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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