First United Corporation (NASDAQ:FUNC) Short Interest Up 39.3% in January

First United Corporation (NASDAQ:FUNC) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 43,726 shares, a growth of 39.3% from the December 31st total of 31,391 shares. Based on an average daily volume of 25,800 shares, the days-to-cover ratio is currently 1.7 days. Approximately 0.7% of the company’s shares are short sold. Approximately 0.7% of the company’s shares are short sold. Based on an average daily volume of 25,800 shares, the days-to-cover ratio is currently 1.7 days.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of First United in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock currently has a consensus rating of “Buy” and an average target price of $42.00.

First United Trading Up 3.2%

FUNC stock opened at $39.56 on Tuesday. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. The company has a market cap of $257.14 million, a price-to-earnings ratio of 10.33 and a beta of 0.54. The business has a fifty day simple moving average of $38.55 and a 200-day simple moving average of $36.72. First United has a 52 week low of $24.66 and a 52 week high of $42.50.

First United Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 16th were given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend was Friday, January 16th. First United’s payout ratio is 27.15%.

Hedge Funds Weigh In On First United

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Daytona Street Capital LLC purchased a new stake in First United during the 4th quarter worth $1,390,000. JPMorgan Chase & Co. lifted its position in First United by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,208 shares of the bank’s stock worth $191,000 after acquiring an additional 431 shares in the last quarter. Qube Research & Technologies Ltd acquired a new stake in First United in the third quarter valued at approximately $239,000. Arrowstreet Capital Limited Partnership raised its stake in shares of First United by 1.2% during the third quarter. Arrowstreet Capital Limited Partnership now owns 101,118 shares of the bank’s stock valued at $3,718,000 after purchasing an additional 1,194 shares during the period. Finally, BNP Paribas Financial Markets lifted its position in shares of First United by 102.1% during the third quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock worth $56,000 after purchasing an additional 770 shares in the last quarter. Institutional investors and hedge funds own 33.27% of the company’s stock.

First United Company Profile

First United Corporation is a bank holding company that, through its subsidiary First United Bank & Trust, provides a full suite of commercial and consumer banking services to individuals, businesses, and agricultural customers across central Oklahoma. The company offers deposit accounts such as checking, savings, money market and time deposits, alongside a variety of lending solutions covering commercial real estate, construction, agricultural and consumer loans.

In addition to traditional banking products, First United delivers treasury management and cash management solutions designed to streamline client operations, as well as online and mobile banking platforms for account access and payments.