First United (NASDAQ:FUNC) Stock Price Crosses Above 200-Day Moving Average – What’s Next?

First United Corporation (NASDAQ:FUNC) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.50 and traded as high as $44.95. First United shares last traded at $44.46, with a volume of 14,141 shares changing hands.

Wall Street Analysts Forecast Growth

FUNC has been the subject of a number of recent analyst reports. Raymond James Financial lifted their price target 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 upgraded shares of First United from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Hovde Group reaffirmed an “outperform” rating and set a $49.00 price objective on shares of First United in a research report on Thursday, July 23rd. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of First United in a report on Friday, July 10th. Three equities 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.

First United Trading Up 0.5%

The company has a 50 day moving average of $43.57 and a 200-day moving average of $39.54. The stock has a market cap of $294.18 million, a price-to-earnings ratio of 11.82 and a beta of 0.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91.

First United (NASDAQ:FUNC) last issued its quarterly 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 company had revenue of $65.27 million for the quarter, compared to analyst estimates of $23.55 million. First United had a net margin of 20.05% and a return on equity of 13.85%. On average, research analysts anticipate that First United Corporation will post 4.5 earnings per share for the current year.

First United Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Monday, July 20th were 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 was Monday, July 20th. First United’s dividend payout ratio is presently 26.94%.

Insiders Place Their Bets

In other First United news, EVP Robert L. Fisher II sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $45.29, for a total value of $237,772.50. Following the completion of the transaction, the executive vice president owned 9,105 shares of the company’s stock, valued at $412,365.45. This trade represents a 36.57% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Irvin Robert Rudy sold 1,000 shares of the business’s stock in a transaction on Friday, July 24th. The stock was sold at an average price of $44.58, for a total transaction of $44,580.00. Following the completion of the transaction, the director owned 37,500 shares of the company’s stock, valued at approximately $1,671,750. This trade represents a 2.60% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have acquired 280 shares of company stock worth $12,816 and have sold 11,250 shares worth $500,752. 8.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. purchased a new position in shares of First United in the 2nd quarter valued at about $20,125,000. Deutsche Bank AG purchased a new stake in shares of First United during the second quarter worth approximately $236,000. Bank of New York Mellon Corp acquired a new stake in First United in the second quarter valued at approximately $1,128,000. Kestra Advisory Services LLC acquired a new stake in First United in the fourth quarter valued at approximately $38,000. Finally, BNP Paribas Financial Markets lifted its stake in First United by 102.1% in the third quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock worth $56,000 after acquiring an additional 770 shares during the last quarter. 33.27% of the stock is owned by institutional investors and hedge funds.

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.