2 weeks Ago By ABMN Staff
First United Co. ( NASDAQ:FUNC – Get Free Report ) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totalling 16,500 shares, a growth of 81.
3% from the August 31st total of 9,100 shares. Currently, 0.3% of the company’s shares are short sold.
Based on an average trading volume of 20,800 shares, the days-to-cover ratio is presently 0.8 days. Insider Activity at First United In other news, Director Irvin Robert Rudy sold 2,000 shares of the business’s stock in a transaction dated Thursday, July 25th.
The stock was sold at an average price of $27.52, for a total transaction of $55,040.00.
Following the completion of the sale, the director now owns 37,000 shares in the company, valued at approximately $1,018,240. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website . Over the last 90 days, insiders have bought 188 shares of company stock worth $5,254.
7.80% of the stock is owned by insiders. Institutional Trading of First United Several large investors have recently modified their holdings of FUNC.
Gendell Jeffrey L grew its stake in First United by 4.4% during the 4th quarter. Gendell Jeffrey L now owns 167,704 shares of the bank’s stock valued at $3,943,000 after purchasing an additional 7,064 shares in the last quarter.
Empowered Funds LLC grew its position in shares of First United by 8.0% during the first quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock worth $370,000 after buying an additional 1,192 shares in the last quarter.
PARK CIRCLE Co bought a new stake in shares of First United in the first quarter worth $525,000. Vanguard Group Inc. raised its holdings in First United by 3.
6% in the first 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 in the last quarter.
Finally, Acadian Asset Management LLC boosted its stake in First United by 283.2% during the 1st quarter. Acadian Asset Management LLC now owns 38,725 shares of the bank’s stock valued at $886,000 after acquiring an additional 28,619 shares during the last quarter.
33.27% of the stock is currently owned by institutional investors and hedge funds. First United Stock Down 0.
1 % First United ( NASDAQ:FUNC – Get Free Report ) last posted its quarterly earnings data on Monday, July 22nd. The bank reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.
66 by $0.09. The company had revenue of $27.
95 million for the quarter, compared to analyst estimates of $19.34 million. First United had a net margin of 13.
84% and a return on equity of 11.78%. As a group, sell-side analysts expect that First United will post 3 earnings per share for the current fiscal year.
First United Increases Dividend The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be given a $0.22 dividend.
This is a boost from First United’s previous quarterly dividend of $0.20. This represents a $0.
88 dividend on an annualized basis and a yield of 2.96%. The ex-dividend date of this dividend is Friday, October 18th.
First United’s dividend payout ratio is presently 37.21%. Analysts Set New Price Targets Separately, StockNews.
com downgraded First United from a “buy” rating to a “hold” rating in a report on Thursday, August 29th. View Our Latest Analysis on FUNC About First United ( Get Free Report ) 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.
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