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

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 value of $218,400.00. Following the sale, the executive vice president directly owned 10,342 shares of the company’s stock, valued at $451,738.56. This represents a 32.59% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First United Trading Up 1.6%

Shares of 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 company has a market cap of $294.06 million, a price-to-earnings ratio of 11.81 and a beta of 0.52. The stock has a fifty day moving average price of $42.29 and a two-hundred day moving average price of $39.08. First United Corporation has a 52-week low of $31.71 and a 52-week high of $46.30.

First United (NASDAQ:FUNC) last announced its earnings results on Monday, July 20th. The bank reported $1.13 EPS for the quarter, topping the consensus estimate of $1.05 by $0.08. First United had a return on equity of 13.85% and a net margin of 20.05%.The company had revenue of $23.94 million for the quarter, compared to analysts’ expectations of $23.55 million. Analysts predict that First United Corporation will post 4.5 EPS for the current fiscal year.

First United Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 20th will be issued a dividend of $0.26 per share. The ex-dividend date of this dividend is Monday, July 20th. This represents a $1.04 dividend on an annualized basis and a yield of 2.3%. First United’s dividend payout ratio is currently 26.94%.

Institutional Trading of First United

Several hedge funds and other institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc lifted its holdings in shares of First United by 126.8% in the first quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock valued at $33,000 after purchasing an additional 501 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in First United in the 4th quarter valued at approximately $38,000. BNP Paribas Financial Markets raised its position in First United by 102.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock valued at $56,000 after buying an additional 770 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in First United in the 2nd quarter valued at approximately $102,000. Finally, New York State Common Retirement Fund bought a new stake in First United in the 2nd quarter valued at approximately $105,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FUNC shares. Wall Street Zen raised shares of First United from a “hold” rating to a “buy” rating in a research note on Saturday. Raymond James Financial increased their price target on shares of First United from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Hovde Group reissued an “outperform” rating and set a $49.00 price target on shares of First United in a research note on Thursday, July 23rd. Finally, Weiss Ratings reissued a “buy (b)” rating on shares of First United in a report on Friday, July 10th. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has a consensus rating of “Buy” and a consensus target price of $49.50.

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.