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 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 sale, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,671,750. The trade was a 2.60% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

First United Stock Performance

NASDAQ:FUNC opened at $45.59 on Wednesday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $294.06 million, a PE ratio of 11.81 and a beta of 0.52. First United Corporation has a fifty-two week low of $31.71 and a fifty-two week high of $46.30. The company has a fifty day moving average of $42.29 and a two-hundred day moving average of $39.08.

First United (NASDAQ:FUNC) last announced its earnings results on Monday, July 20th. The bank reported $1.13 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.05 by $0.08. The business had revenue of $23.94 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%. As a group, research analysts forecast that First United Corporation will post 4.5 earnings per share for the current fiscal year.

First United Announces Dividend

The company also recently disclosed 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 2.3%. The ex-dividend date is Monday, July 20th. First United’s payout ratio is presently 26.94%.

Hedge Funds Weigh In On First United

A number of hedge funds have recently made changes to their positions in FUNC. AdvisorNet Financial Inc increased its holdings in First United by 126.8% in the 1st quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock valued at $33,000 after purchasing an additional 501 shares during the last quarter. Kestra Advisory Services LLC acquired a new position in First United during the fourth quarter worth $38,000. BNP Paribas Financial Markets boosted its position in shares of First United by 102.1% during the third quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock worth $56,000 after buying an additional 770 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of First United during the second quarter worth $102,000. Finally, New York State Common Retirement Fund acquired a new stake in shares of First United in the second quarter valued at $105,000. Hedge funds and other institutional investors own 33.27% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FUNC shares. Weiss Ratings reissued a “buy (b)” rating on shares of First United in a report on Friday, July 10th. Raymond James Financial boosted their price target on First United from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Hovde Group restated an “outperform” rating and issued a $49.00 price objective on shares of First United in a report on Thursday, July 23rd. Finally, Wall Street Zen raised shares of First United from a “hold” rating to a “buy” rating in a report on Saturday. Three research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, First United currently has a consensus rating of “Buy” and a consensus price target 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.