Tontine Financial Partners, LP revealed that they own a 5.2% stake in First United Corp. (NASDAQ:FUNC) in a Schedule 13G disclosure that was filed with the Securities and Exchange Commission (SEC) on Friday, November 25th. The investor owns 326,024 shares of the stock valued at about $4,173,107. The reporting parties listed on the disclosure included Tontine Financial Partners, LP, Tontine Management, LLC, Tontine Asset Associates, LLC and Jeffrey L Gendell. The filing is available through Edgar at this link.
First United Corp. (NASDAQ:FUNC) traded down 4.83% during mid-day trading on Friday, reaching $12.80. 2,774 shares of the company traded hands. The firm’s 50-day moving average is $11.95 and its 200 day moving average is $10.78. The stock has a market capitalization of $80.24 million, a PE ratio of 8.02 and a beta of 0.91. First United Corp. has a 52-week low of $8.82 and a 52-week high of $14.00.
First United Corp. 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.