Short Interest in First United Corporation (NASDAQ:FUNC) Rises By 39.3%

First United Corporation (NASDAQ:FUNC) saw a large growth in short interest during the month of January. As of January 15th, there was short interest totaling 43,726 shares, a growth of 39.3% from the December 31st total of 31,391 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily trading volume, of 25,800 shares, the short-interest ratio is currently 1.7 days. Based on an average daily trading volume, of 25,800 shares, the short-interest ratio is currently 1.7 days. Currently, 0.7% of the company’s stock are short sold.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of First United in a research report on Thursday, January 22nd. Two investment analysts have rated the stock with a Buy rating, According to data from MarketBeat, First United presently has an average rating of “Buy” and a consensus target price of $42.00.

Institutional Trading of First United

A number of institutional investors have recently modified their holdings of FUNC. Angel Oak Capital Advisors LLC increased its position in First United by 31.1% during the 2nd quarter. Angel Oak Capital Advisors LLC now owns 33,700 shares of the bank’s stock worth $1,045,000 after purchasing an additional 8,000 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of First United by 3.5% during the second quarter. Acadian Asset Management LLC now owns 91,972 shares of the bank’s stock worth $2,850,000 after buying an additional 3,105 shares in the last quarter. TrueMark Investments LLC acquired a new position in shares of First United in the third quarter valued at approximately $1,282,000. Hillsdale Investment Management Inc. lifted its stake in shares of First United by 29,055.6% during the second quarter. Hillsdale Investment Management Inc. now owns 52,480 shares of the bank’s stock valued at $1,627,000 after buying an additional 52,300 shares during the period. Finally, Corton Capital Inc. acquired a new stake in First United during the second quarter worth approximately $265,000. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

First United Stock Performance

FUNC traded up $1.23 during trading on Monday, hitting $39.56. The stock had a trading volume of 25,913 shares, compared to its average volume of 19,043. The firm has a market capitalization of $257.14 million, a P/E ratio of 10.33 and a beta of 0.54. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.93 and a current ratio of 0.93. First United has a twelve month low of $24.66 and a twelve month high of $42.50. The company’s 50-day moving average price is $38.55 and its 200 day moving average price is $36.72.

First United Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 16th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date of this dividend is Friday, January 16th. First United’s payout ratio is currently 27.15%.

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.