First United Co. (NASDAQ:FUNC) Sees Significant Growth in Short Interest

First United Co. (NASDAQ:FUNC) was the target of a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 17,600 shares, a growth of 259.2% from the November 30th total of 4,900 shares. Currently, 0.3% of the company’s shares are sold short. Based on an average daily volume of 19,100 shares, the short-interest ratio is currently 0.9 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com upgraded First United from a “hold” rating to a “buy” rating in a report on Monday, October 7th.

First United Stock Performance

NASDAQ FUNC traded down $0.14 on Friday, hitting $33.86. 18,744 shares of the stock were exchanged, compared to its average volume of 22,740. The company has a market capitalization of $219.04 million, a PE ratio of 13.76 and a beta of 0.80. The business’s fifty day moving average is $34.08 and its 200 day moving average is $29.01. First United has a 52 week low of $19.17 and a 52 week high of $36.49. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.89 earnings per share for the quarter, beating the consensus estimate of $0.79 by $0.10. First United had a net margin of 14.70% and a return on equity of 12.20%. The firm had revenue of $28.17 million for the quarter, compared to analysts’ expectations of $20.30 million. Research analysts anticipate that First United will post 3.11 EPS for the current fiscal year.

First United Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 3rd. Stockholders of record on Friday, January 17th will be issued a dividend of $0.22 per share. The ex-dividend date is Friday, January 17th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.60%. First United’s dividend payout ratio (DPR) is currently 35.77%.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Point72 Asia Singapore Pte. Ltd. acquired a new position in First United during the 3rd quarter worth about $97,000. Barclays PLC bought a new position in shares of First United during the 3rd quarter worth about $126,000. SeaCrest Wealth Management LLC acquired a new position in First United during the 3rd quarter worth approximately $202,000. Ritholtz Wealth Management bought a new stake in shares of First United during the third quarter valued at approximately $460,000. Finally, Empowered Funds LLC lifted its holdings in shares of First United by 5.4% in the 3rd quarter. Empowered Funds LLC now owns 23,713 shares of the bank’s stock worth $708,000 after purchasing an additional 1,206 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 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.