On May 29, 2026, Hovde Group initiated coverage of First United (NasdaqGS: FUNC) with an Outperform rating. The average one-year price target for the company is set at $44.88 per share, indicating a 15.08% upside from its latest closing price of $39.00.
First United’s projected annual revenue is forecasted at $97 million, an increase of 10.15%, with an expected non-GAAP EPS of 3.83. There has been a significant decrease in institutional ownership, with 89 funds reporting positions, down 29.37% from the previous quarter, equating to 3,380K shares held, a decrease of 1.64%.
Key institutional shareholders include Vanguard Capital Management with 269K shares (4.17% ownership) and Gendell Jeffrey L with 178K shares (2.77% ownership). De Lisle Partners LLP increased its stake slightly to 164K shares, while Geode Capital Management decreased its allocation by 47.13% to 140K shares (2.16% ownership).
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