First United (NASDAQ:FUNC) Share Price Crosses Above 50 Day Moving Average – Should You Sell?

First United Corporation (NASDAQ:FUNC)’s share price crossed above its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $40.15 and traded as high as $44.59. First United shares last traded at $43.96, with a volume of 23,138 shares changing hands.

Analysts Set New Price Targets

FUNC has been the subject of several recent research reports. Wall Street Zen lowered First United from a “buy” rating to a “hold” rating in a report on Monday, June 15th. Raymond James Financial boosted their target price on First United from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Finally, Hovde Group assumed coverage on First United in a research note on Friday, May 29th. They set an “outperform” rating and a $44.50 price target for the company. Three investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company presently has an average rating of “Buy” and an average price target of $47.25.

First United Price Performance

The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $283.15 million, a P/E ratio of 11.23 and a beta of 0.52. The stock’s fifty day moving average is $40.37 and its 200-day moving average is $38.48.

First United (NASDAQ:FUNC) last posted its earnings results on Tuesday, April 21st. The bank reported $1.02 earnings per share for the quarter, beating the consensus estimate of $0.92 by $0.10. The company had revenue of $23.41 million for the quarter, compared to analyst estimates of $22.83 million. First United had a return on equity of 13.39% and a net margin of 20.55%. On average, equities analysts anticipate that First United Corporation will post 4.4 earnings per share for the current year.

First United Dividend Announcement

The business also recently announced 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. This represents a $1.04 annualized dividend and a yield of 2.4%. The ex-dividend date is Monday, July 20th. First United’s payout ratio is 26.60%.

Hedge Funds Weigh In On First United

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Millennium Management LLC boosted its stake in First United by 349.9% during the 1st quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock valued at $4,220,000 after purchasing an additional 109,340 shares during the period. Geode Capital Management LLC grew its holdings in First United by 112.3% in the 2nd quarter. Geode Capital Management LLC now owns 139,939 shares of the bank’s stock valued at $4,340,000 after buying an additional 74,032 shares during the last quarter. Daytona Street Capital LLC bought a new position in First United in the 4th quarter worth approximately $1,390,000. Marshall Wace LLP increased its position in First United by 118.1% in the 4th quarter. Marshall Wace LLP now owns 44,047 shares of the bank’s stock worth $1,649,000 after buying an additional 23,850 shares during the period. Finally, Goldman Sachs Group Inc. lifted its holdings in shares of First United by 53.2% during the first quarter. Goldman Sachs Group Inc. now owns 58,718 shares of the bank’s stock worth $1,763,000 after buying an additional 20,387 shares during the last quarter. Institutional investors and hedge funds own 33.27% of the company’s stock.

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.