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

by · The Markets Daily

First United Corporation (NASDAQ:FUNC – Get Free Report) Director Irvin Robert Rudy sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 3rd. The stock was sold at an average price of $46.26, for a total value of $46,260.00. Following the completion of the transaction, the director owned 36,500 shares of the company’s stock, valued at $1,688,490. This represents a 2.67% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

First United Trading Up 2.7%

Shares of NASDAQ:FUNC opened at $47.08 on Thursday. 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 $34.29 and a 1 year high of $47.64. The company has a market cap of $303.69 million, a P/E ratio of 10.52 and a beta of 0.52. The stock’s fifty day moving average price is $44.08 and its 200-day moving average price is $40.90.

First United (NASDAQ:FUNC – Get Free Report) last released its quarterly earnings data on Monday, October 19th. The bank reported $1.11 EPS for the quarter, missing the consensus estimate of $1.14 by ($0.03). First United had a return on equity of 13.66% and a net margin of 19.99%. The business had revenue of $25.22 million during the quarter, compared to the consensus estimate of $24.37 million. Sell-side analysts expect that First United Corporation will post 4.54 earnings per share for the current year.

First United Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 19th were issued a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.4%. The ex-dividend date of this dividend was Monday, October 19th. This is a boost from First United’s previous quarterly dividend of $0.26. First United’s payout ratio is 28.72%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the stock. UBS Group upgraded shares of First United to a “buy” rating in a research note on Wednesday, October 21st. Raymond James Financial restated an “outperform” rating on shares of First United in a research report on Wednesday, October 21st. Weiss Ratings restated a “buy (b)” rating on shares of First United in a report on Tuesday, October 6th. Wall Street Zen downgraded shares of First United from a “buy” rating to a “hold” rating in a research report on Saturday, August 15th. Finally, Hovde Group reaffirmed an “outperform” rating and issued a $49.00 target price on shares of First United in a research report on Thursday, July 23rd. Four investment analysts have rated the stock with a Buy rating. According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $49.50.

Get Our Latest Stock Report on First United

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the company. Trail Ridge Investment Advisors LLC lifted its stake in shares of First United by 62.1% in the 3rd quarter. Trail Ridge Investment Advisors LLC now owns 8,021 shares of the bank’s stock worth $343,000 after purchasing an additional 3,073 shares during the period. Empowered Funds LLC purchased a new position in shares of First United in the second quarter worth approximately $1,681,000. Corient Private Wealth LP purchased a new position in shares of First United in the second quarter worth approximately $202,000. Bank of America Corp DE bought a new stake in First United during the second quarter valued at approximately $201,000. Finally, Hsbc Holdings PLC bought a new stake in First United during the second quarter valued at approximately $502,000. Institutional investors own 33.27% of the company’s stock.

First United Company Profile

(Get Free Report)

First United Corporation is a bank holding company headquartered in Oakland, Maryland. Through its principal subsidiary, First United Bank & Trust, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

First United Bank & Trust offers deposit accounts, consumer and commercial lending, mortgage services, online and mobile banking, cash-management solutions, and wealth-management services. Its lending activities include residential mortgages, home-equity loans, personal loans, commercial real estate financing and other business credit products.

The company serves communities in western Maryland and northern West Virginia through a network of banking offices and digital channels.

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