Second Curve Capital LLC Has $3.81 Million Stake in First United Corporation (FUNC)

Second Curve Capital LLC trimmed its stake in First United Corporation (NASDAQ:FUNC) by 2.1% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 228,882 shares of the bank’s stock after selling 5,000 shares during the period. First United accounts for approximately 1.5% of Second Curve Capital LLC’s holdings, making the stock its 15th largest position. Second Curve Capital LLC owned about 3.24% of First United worth $3,811,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Western Standard LLC purchased a new stake in shares of First United in the 2nd quarter worth $194,000. Northern Trust Corp increased its stake in shares of First United by 4.4% in the 2nd quarter. Northern Trust Corp now owns 72,536 shares of the bank’s stock worth $1,081,000 after purchasing an additional 3,050 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of First United by 0.9% in the 2nd quarter. Dimensional Fund Advisors LP now owns 246,846 shares of the bank’s stock worth $3,690,000 after purchasing an additional 2,133 shares in the last quarter. Finally, M3F Inc. increased its stake in shares of First United by 1.2% in the 2nd quarter. M3F Inc. now owns 635,638 shares of the bank’s stock worth $9,471,000 after purchasing an additional 7,560 shares in the last quarter. Hedge funds and other institutional investors own 34.58% of the company’s stock.

Separately, ValuEngine lowered First United from a “buy” rating to a “hold” rating in a research note on Friday, December 1st.

Shares of First United Corporation (FUNC) opened at $16.99 on Friday. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 1.09. The company has a market capitalization of $121.91, a price-to-earnings ratio of 18.55 and a beta of 0.45. First United Corporation has a 12 month low of $13.00 and a 12 month high of $18.30.

First United (NASDAQ:FUNC) last posted its quarterly earnings data on Monday, November 13th. The bank reported $0.25 EPS for the quarter. The firm had revenue of $13.76 million during the quarter. First United had a return on equity of 7.39% and a net margin of 12.80%.

In other news, Director Irvin Robert Rudy sold 3,500 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $17.42, for a total value of $60,970.00. Following the completion of the sale, the director now directly owns 31,123 shares in the company, valued at approximately $542,162.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders sold a total of 6,705 shares of company stock valued at $116,194 over the last 90 days. 4.00% of the stock is currently owned by company insiders.

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First United Company Profile

First United Corporation is a bank holding company. The Company’s primary business is serving as the parent company of First United Bank & Trust (the Bank), First United Statutory Trust I, First United Statutory Trust II and First United Statutory Trust III. It operates through community banking segment.

Institutional Ownership by Quarter for First United (NASDAQ:FUNC)

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