First United Corporation (NASDAQ:FUNC) Short Interest Down 45.4% in December

First United Corporation (NASDAQ:FUNC) saw a significant drop in short interest in December. As of December 31st, there was short interest totaling 31,391 shares, a drop of 45.4% from the December 15th total of 57,516 shares. Currently, 0.5% of the shares of the stock are sold short. Based on an average daily trading volume, of 28,811 shares, the short-interest ratio is currently 1.1 days. Based on an average daily trading volume, of 28,811 shares, the short-interest ratio is currently 1.1 days. Currently, 0.5% of the shares of the stock are sold short.

First United Stock Down 3.9%

NASDAQ:FUNC traded down $1.55 during trading hours on Friday, reaching $37.92. The company had a trading volume of 16,051 shares, compared to its average volume of 21,354. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.48. First United has a twelve month low of $24.66 and a twelve month high of $42.50. The business’s 50-day simple moving average is $38.14 and its two-hundred day simple moving average is $36.34. The firm has a market cap of $246.48 million, a price-to-earnings ratio of 9.90 and a beta of 0.54.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Tuesday, October 21st. The bank reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.18. The business had revenue of $22.80 million during the quarter, compared to analyst estimates of $22.13 million. First United had a return on equity of 13.24% and a net margin of 21.02%.During the same period in the prior year, the firm posted $0.89 EPS. On average, equities analysts expect that First United will post 3.75 earnings per share for the current year.

First United Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Investors of record on Friday, January 16th will be given a $0.26 dividend. The ex-dividend date is Friday, January 16th. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. First United’s payout ratio is presently 27.15%.

Hedge Funds Weigh In On First United

Several hedge funds have recently made changes to their positions in the business. De Lisle Partners LLP grew its stake in shares of First United by 7.9% in the 2nd quarter. De Lisle Partners LLP now owns 150,390 shares of the bank’s stock worth $4,670,000 after buying an additional 11,016 shares during the last quarter. Millennium Management LLC increased its position in First United by 349.9% in the first quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock worth $4,220,000 after buying an additional 109,340 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of First United by 112.3% during the 2nd quarter. Geode Capital Management LLC now owns 139,939 shares of the bank’s stock valued at $4,340,000 after buying an additional 74,032 shares in the last quarter. Arrowstreet Capital Limited Partnership boosted its stake in First United by 1.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 101,118 shares of the bank’s stock worth $3,718,000 after purchasing an additional 1,194 shares during the period. Finally, Fourthstone LLC bought a new position in shares of First United during the 2nd quarter valued at about $2,965,000. 33.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of First United in a research report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $42.00.

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.