First United (NASDAQ:FUNC) EVP Keith Sanders Sells 5,000 Shares

First United Corporation (NASDAQ:FUNC) EVP Keith Sanders sold 5,000 shares of the firm’s stock in a transaction on Thursday, July 23rd. The shares were sold at an average price of $43.68, for a total transaction of $218,400.00. Following the transaction, the executive vice president directly owned 10,342 shares of the company’s stock, valued at $451,738.56. The trade was a 32.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

First United Price Performance

FUNC stock traded up $0.45 during mid-day trading on Tuesday, hitting $45.33. The company had a trading volume of 7,483 shares, compared to its average volume of 17,745. First United Corporation has a 12-month low of $31.71 and a 12-month 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 50-day moving average price of $42.12 and a 200 day moving average price of $39.02. The company has a market capitalization of $292.35 million, a price-to-earnings ratio of 11.74 and a beta of 0.52.

First United (NASDAQ:FUNC) last released its quarterly earnings data 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 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 anticipate that First United Corporation will post 4.5 earnings per share for the current year.

First United Dividend Announcement

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

Institutional Trading of First United

Several hedge funds have recently modified their holdings of FUNC. AdvisorNet Financial Inc boosted 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 purchasing an additional 501 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in First United in the fourth quarter valued at about $38,000. BNP Paribas Financial Markets boosted its holdings 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 in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in First United in the second quarter worth about $102,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of First United during the second quarter worth about $105,000. 33.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

FUNC has been the subject of several analyst reports. Hovde Group restated an “outperform” rating and issued a $49.00 target price on shares of First United in a report on Thursday, July 23rd. 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 report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First United in a research note on Friday, July 10th. Finally, Wall Street Zen upgraded First United from a “hold” rating to a “buy” rating in a report on Saturday. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price 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.