First United Corporation (NASDAQ:FUNC) Short Interest Up 39.3% in January

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 shares are sold short. Based on an average trading volume of 25,800 shares, the days-to-cover ratio is currently 1.7 days. Based on an average trading volume of 25,800 shares, the days-to-cover ratio is currently 1.7 days. Currently, 0.7% of the company’s shares are sold short.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of FUNC. De Lisle Partners LLP increased its stake in First United by 7.9% during 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 in the last quarter. Millennium Management LLC increased its stake in First United by 349.9% during the first quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock worth $4,220,000 after acquiring an additional 109,340 shares during the last quarter. Geode Capital Management LLC increased its position 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 worth $4,340,000 after purchasing an additional 74,032 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in shares of 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 acquiring an additional 1,194 shares during the last quarter. Finally, Fourthstone LLC acquired a new stake in shares of First United in the second quarter valued at $2,965,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

First United Stock Performance

NASDAQ:FUNC traded up $0.20 during midday trading on Friday, hitting $38.33. The company’s stock had a trading volume of 18,016 shares, compared to its average volume of 19,111. First United has a fifty-two week low of $24.66 and a fifty-two week high of $42.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $249.15 million, a P/E ratio of 10.01 and a beta of 0.54. The firm’s 50 day moving average is $38.49 and its 200-day moving average is $36.66.

First United Dividend Announcement

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

Wall Street Analyst Weigh In

Separately, Weiss Ratings reaffirmed 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, Based on data from MarketBeat.com, First United presently has an average rating of “Buy” and an average target price 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.