Robert Fisher II Sells 5,250 Shares of First United (NASDAQ:FUNC) Stock

First United Corporation (NASDAQ:FUNC) EVP Robert Fisher II sold 5,250 shares of the company’s stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $45.29, for a total value of $237,772.50. Following the sale, the executive vice president owned 9,105 shares of the company’s stock, valued at $412,365.45. This represents a 36.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First United Stock Performance

NASDAQ FUNC opened at $43.84 on Friday. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. First United Corporation has a 1-year low of $31.71 and a 1-year high of $46.30. The firm has a market capitalization of $282.77 million, a P/E ratio of 11.36 and a beta of 0.52. The business’s 50-day simple moving average is $42.56 and its 200-day simple moving average is $39.17.

First United (NASDAQ:FUNC) last posted its earnings results on Monday, July 20th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $23.94 million during the quarter, compared to the consensus estimate of $23.55 million. First United had a net margin of 20.05% and a return on equity of 13.85%. Equities analysts predict that First United Corporation will post 4.5 EPS for the current year.

First United Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Stockholders of record on Monday, July 20th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend is Monday, July 20th. First United’s dividend payout ratio (DPR) is currently 26.94%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on FUNC shares. Wall Street Zen upgraded First United from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Weiss Ratings reiterated a “buy (b)” rating on shares of First United in a research note on Friday, July 10th. Raymond James Financial boosted their price target on First United from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Finally, Hovde Group reaffirmed an “outperform” rating and issued a $49.00 price objective on shares of First United in a research report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $49.50.

Institutional Investors Weigh In On First United

A number of institutional investors have recently modified their holdings of the stock. Invesco Ltd. increased its holdings in First United by 3.4% in the second quarter. Invesco Ltd. now owns 11,105 shares of the bank’s stock valued at $344,000 after buying an additional 364 shares during the last quarter. JPMorgan Chase & Co. lifted its holdings in First United by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,208 shares of the bank’s stock worth $191,000 after buying an additional 431 shares during the last quarter. AdvisorNet Financial Inc grew its position in shares of First United by 126.8% in the 1st quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock worth $33,000 after acquiring an additional 501 shares in the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of First United by 6.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 11,672 shares of the bank’s stock valued at $437,000 after acquiring an additional 743 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its holdings in shares of First United by 102.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock valued at $56,000 after acquiring an additional 770 shares during the last quarter. Institutional investors and hedge funds own 33.27% of the company’s stock.

About First United

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.