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

First United Corporation (NASDAQ:FUNC) Director Irvin Robert Rudy sold 1,000 shares of the business’s stock in a transaction that occurred 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 in the company, valued at $1,688,490. The trade was a 2.67% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink.

First United Stock Performance

FUNC stock opened at $45.86 on Wednesday. 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 firm has a market cap of $295.80 million, a PE ratio of 10.69 and a beta of 0.52. The business has a 50 day moving average of $44.00 and a 200-day moving average of $40.86. First United Corporation has a 12-month low of $34.29 and a 12-month high of $47.00.

First United (NASDAQ:FUNC) last issued its quarterly earnings results on Monday, October 19th. The bank reported $1.11 EPS for the quarter, missing analysts’ consensus estimates 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 for the quarter, compared to the consensus estimate of $24.37 million. As a group, sell-side analysts expect that First United Corporation will post 4.54 earnings per share for the current year.

First United Increases Dividend

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

Wall Street Analyst Weigh In

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

Institutional Investors Weigh In On First United

A number of hedge funds and other institutional investors have recently bought and sold shares of FUNC. Trail Ridge Investment Advisors LLC grew its position in shares of First United by 62.1% in the third quarter. Trail Ridge Investment Advisors LLC now owns 8,021 shares of the bank’s stock valued at $343,000 after purchasing an additional 3,073 shares in the last quarter. Empowered Funds LLC bought a new stake in shares of First United during the 2nd quarter valued at $1,681,000. Corient Private Wealth LP bought a new stake in shares of First United during the 2nd quarter valued at $202,000. Bank of America Corp DE purchased a new stake in First United during the 2nd quarter worth about $201,000. Finally, Hsbc Holdings PLC purchased a new stake in First United during the 2nd quarter worth about $502,000. Institutional investors own 33.27% of the company’s stock.

About First United

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.