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Home›Nasdaq›First United (NASDAQ: FUNC) lowered to “hold” at Zacks Investment Research

First United (NASDAQ: FUNC) lowered to “hold” at Zacks Investment Research

By Maureen Bellinger
January 4, 2022
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First United (NASDAQ: FUNC) was downgraded by Zacks Investment Research from a “strong buy” rating to a “retained” rating in a research note released Monday, Zacks.com reports.

According to Zacks, “First United Corporation is a one-bank holding company with two non-bank subsidiaries. “

NASDAQ: FUNC shares traded up $ 0.43 on Monday, reaching $ 19.19. 4,493 shares of the company traded hands, compared to its average volume of 17,333. First United has a fifty-two week low of $ 15.30 and a fifty-two week high of $ 20.50. The company has a 50-day simple moving average of $ 19.32. The stock has a market cap of $ 127.00 million, a PE ratio of 7.58 and a beta of 0.97. The company has a debt to equity ratio of 0.23, a current ratio of 0.84, and a quick ratio of 0.84.

First United (NASDAQ: FUNC) last announced its results on Monday, October 25. The bank reported earnings per share (EPS) of $ 0.93 for the quarter, beating the consensus estimate of $ 0.38 by $ 0.55. First United had a net margin of 22.51% and a return on equity of 16.43%. The company posted revenue of $ 18.15 million for the quarter, compared to the consensus estimate of $ 17.02 million. As a group, research analysts predict that First United will post 3.2 earnings per share for the current fiscal year.

Several hedge funds and other institutional investors have recently bought and sold shares in the company. Royal Bank of Canada increased its position in First United shares by 660.3% in the second quarter. Royal Bank of Canada now owns 4,113 shares of the bank valued at $ 72,000 after purchasing an additional 3,572 shares in the last quarter. American Century Companies Inc. purchased a new stake in First United in the second quarter valued at approximately $ 234,000. WINTON GROUP Ltd increased its stake in First United by 17.0% in the 2nd quarter. WINTON GROUP Ltd now owns 15,580 shares of the bank valued at $ 272,000 after purchasing an additional 2,265 shares during the period. Freestone Capital Holdings LLC purchased a new stake in First United in the second quarter for a value of approximately $ 279,000. Finally, BHZ Capital Management LP purchased a new stake in First United in the third quarter for a value of approximately $ 283,000. 30.72% of the capital is held by institutional investors.

(A d)

Through Berkshire Hathaway… Warren Buffett recently gave up on Apple stock for $ 800 million…

And bought this instead!

First United Company Profile

First United Corp. is a banking holding company that provides community banking services. It offers chequing accounts, savings accounts, money market deposit accounts and certificates of deposit, business loans, personal loans, mortgages, lines of credit and retirement accounts for consumers, including individual retirement accounts and employee benefit accounts through its subsidiary.

Feature article: How are S&P 500 companies selected?

Get a free copy of Zacks’ First United Research Report (FUNC)

For more information on Zacks Investment Research’s research offerings, visit Zacks.com

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