First United Stock Rating Downgraded by Analysts

First United (NASDAQ:FUNC) has recently been downgraded by analysts at StockNews.com from a "buy" rating to a "hold" rating, as announced in a report released on Friday.

First United Stock Performance

During trading on Friday, First United's shares increased by 0.8%, adding $0.26 to reach a price of $32.58. The trading volume for the day was 26,958 shares, which is lower than the average volume of 31,608 shares. The company currently has a market capitalization of $210.79 million, a price-to-earnings (PE) ratio of 13.24, and a beta value of 0.81. Looking at its financial metrics, First United has a debt-to-equity ratio of 0.70. Its current ratio and quick ratio are both 0.94. Over the past year, the stock has experienced a low of $19.17 and a high of $36.49, with its 50-day moving average sitting at $33.97 and the 200-day moving average at $31.17.

Institutional Investment Activity

Recently, institutional investors have made adjustments to their holdings in First United. For example, Point72 Asia Singapore Pte. Ltd. acquired a new investment in the company during the third quarter, valued at roughly $97,000. Similarly, Barclays PLC also purchased a new stake in First United during the same period, amounting to about $126,000. Additionally, SeaCrest Wealth Management LLC bought a new stake valued at $202,000, and Ritholtz Wealth Management acquired an investment worth approximately $460,000. Empowered Funds LLC increased its stake in First United by 5.4%, now owning 23,713 shares valued at $708,000, after purchasing an extra 1,206 shares in the latest quarter. Collectively, institutional investors hold 33.27% of the company's stock.

About First United Corporation

First United Corporation operates as the bank holding company for First United Bank & Trust, offering a range of retail and commercial banking services for individuals and businesses. The company provides various deposit options, including checking accounts, savings accounts, money market accounts, individual retirement accounts (IRAs), and certificates of deposit.

Investment Considerations

Before deciding on an investment in First United, potential investors might want to consider recent assessments from leading financial analysts. Currently, while First United holds a "hold" rating, other top-rated stocks are being recommended by analysts as better investment options. It may be beneficial to research these alternatives before making a final choice.

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