First United (NASDAQ:FUNC) Director Irvin Robert Rudy Sells 1,000 Shares

First United Corporation (NASDAQ:FUNC) Director Irvin Robert Rudy sold 1,000 shares of First United stock in a transaction on Friday, July 24th. The shares were sold at an average price of $44.58, for a total transaction of $44,580.00. Following the transaction, the director owned 37,500 shares in the company, valued at approximately $1,671,750. This trade represents a 2.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

First United Price Performance

FUNC stock traded up $0.42 during trading on Tuesday, reaching $45.30. The company’s stock had a trading volume of 9,506 shares, compared to its average volume of 17,752. First United Corporation has a 1 year low of $31.71 and a 1 year high of $46.30. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The company has a market capitalization of $292.19 million, a P/E ratio of 11.75 and a beta of 0.52. The company’s fifty day moving average is $42.12 and its 200-day moving average is $39.02.

First United (NASDAQ:FUNC) last announced its quarterly earnings data on Monday, July 20th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $23.94 million for the quarter, compared to the consensus estimate of $23.55 million. First United had a return on equity of 13.85% and a net margin of 20.05%. On average, research analysts expect that First United Corporation will post 4.5 earnings per share for the current fiscal year.

First United Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 20th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. First United’s dividend payout ratio (DPR) is 26.94%.

Institutional Investors Weigh In On First United

A number of hedge funds have recently made changes to their positions in FUNC. Empowered Funds LLC boosted its stake in First United by 6.3% during the first quarter. Empowered Funds LLC now owns 38,112 shares of the bank’s stock valued at $1,396,000 after buying an additional 2,243 shares during the last quarter. Hsbc Holdings PLC raised its holdings in shares of First United by 44.2% during the 1st quarter. Hsbc Holdings PLC now owns 11,508 shares of the bank’s stock worth $427,000 after acquiring an additional 3,528 shares in the last quarter. AdvisorNet Financial Inc boosted its position in shares of First United by 126.8% during the 1st quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock valued at $33,000 after acquiring an additional 501 shares during the last quarter. Corient Private Wealth LLC bought a new position in shares of First United during the 4th quarter valued at approximately $205,000. Finally, Bridgeway Capital Management LLC grew its holdings in shares of First United by 4.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 73,537 shares of the bank’s stock valued at $2,753,000 after purchasing an additional 3,293 shares in the last quarter. 33.27% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FUNC has been the subject of several recent analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of First United in a research note on Friday, July 10th. Raymond James Financial lifted their price objective on shares of First United from $44.00 to $50.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Wall Street Zen raised shares of First United from a “hold” rating to a “buy” rating in a report on Saturday. Finally, Hovde Group restated an “outperform” rating and set a $49.00 target price on shares of First United in a research report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has a consensus rating of “Buy” and an average price target of $49.50.

First United Company Profile

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.