Investment experts at Bloomberg reportedly obtained coverage of First United in a report that was made available to the public on Saturday (NASDAQ:FUNC). The firm strongly suggested to its customers that they “purchase” the stock of the bank. In a separate research report that was distributed on Thursday, July 7th, Raymond James lowered their price objective on First United shares from $28.00 to $25.00. The study was about the company’s performance. In spite of this move, Raymond James has maintained that it is giving the company an “outperform” rating. Those business dealings that involve the First United Price On Friday, the price of a share of First United was $18.82 when trading was first initiated.
The stock price of First United has ranged between $16.55 and $24.50 over the past 52 weeks, with a low of $16.55 and a high of $24.50. The market capitalization of the company is $124.9 million, the price-to-earnings ratio is 5.41, and the beta value is 0.74. The debt-to-equity ratio, the quick ratio, and the current ratio all add up to 0.23, and they all have the same value of 0.79. The company’s share price has had a moving average of $18.15 over the previous 50 days, while over the past 200 days, it has had a moving average price of $20.67. First United (NASDAQ:FUNC) made public on Monday, July 25, the quarterly financial numbers that the company had been working on for the previous several weeks. During the prior period, the financial institution recorded earnings of $0.82 per share (EPS).
First United was able to attain a net margin of 29.46% in addition to an equity return of 18.04%. During the time period under consideration, the company generated a total revenue of $18.38 million. The amount of money that is brought in and taken out of institutions Recent months have seen a number of hedge funds making modifications to the FUNC holdings that are included in their respective portfolios. During the second quarter of 2018, SeaCrest Wealth Management LLC made an investment of about $140,000, which enabled the company to grow its interest in First United. During the first three months of the year, Acadian Asset Management LLC made a new investment in First United totaling 212 thousand dollars. First United made a fresh investment in First United at the beginning of the third quarter of the year, and the investment cost roughly $283,000.
The amount of First United stock that State Street Corporation had at the end of the first quarter was 11.1% more than it was at the beginning of the period. State Street Corp now holds a total of 14,637 shares of the bank’s stock following the purchase of an additional 1,462 shares during the quarter. Based on the current market price of the stock, State Street Corp’s holdings have a value of approximately $330,000. Lastly, but certainly not least, during the second quarter, O’Shaughnessy Asset Management LLC boosted the proportion of First United that it owns by 63.5 percent. O’Shaughnessy Asset Management LLC now has a total of 20,759 shares of the bank’s stock, which are valued at $389,000 thanks to the acquisition of an additional 8,061 shares over the course of the most recent quarter.
The total number of shares held by institutions in the corporation amounts to 29.06% of the total. Initial Information and Data Obtained from Just a Single Source First United Corporation is the bank holding company for First United Bank & Trust, which provides a wide array of retail and business banking services to both individuals and businesses. These services can be obtained either directly from the bank or through First United Corporation. These services are available to be accessed through the use of the internet. In addition to checking, savings, and money market accounts; certificates of deposit; Christmas savings accounts; college savings accounts; and health savings accounts, the organization provides commercial clients with packages that include treasury management, cash securing, and cash securing in addition to checking, savings, and money market accounts; certificates of deposit; and health savings accounts.
Additionally, the organization offers certificates of deposit for traditional retirement funds as well as individual retirement accounts (IRAs). In addition to that, it provides a service that is known as the Insured Cash Sweep as well as a program that is known as the Certificate of Deposit Account Registry Service.
Read More: StockNews.com begins coverage of First United (NASDAQ:FUNC).