First United (NASDAQ:FUNC) EVP Sells $237,772.50 in Stock

First United Corporation (NASDAQ:FUNC) EVP Robert Fisher II sold 5,250 shares of the firm’s stock in a transaction that occurred on Tuesday, July 28th. The shares were sold at an average price of $45.29, for a total transaction of $237,772.50. Following the completion of the sale, the executive vice president owned 9,105 shares in the company, valued at $412,365.45. This represents a 36.57% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link.

First United Stock Performance

NASDAQ FUNC opened at $44.14 on Friday. The firm’s fifty day moving average price is $42.70 and its two-hundred day moving average price is $39.21. The stock has a market cap of $284.70 million, a PE ratio of 11.44 and a beta of 0.52. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91. First United Corporation has a fifty-two week low of $31.71 and a fifty-two week high of $46.30.

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

First United Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Investors of record on Monday, July 20th will be given a dividend of $0.26 per share. The ex-dividend date is Monday, July 20th. This represents a $1.04 annualized dividend and a yield of 2.4%. First United’s dividend payout ratio (DPR) is currently 26.94%.

Institutional Investors Weigh In On First United

Institutional investors have recently modified their holdings of the company. Daytona Street Capital LLC bought a new position in First United during the fourth quarter worth $1,390,000. Bank of America Corp DE lifted its holdings in First United by 154.5% in the second quarter. Bank of America Corp DE now owns 5,217 shares of the bank’s stock valued at $162,000 after buying an additional 3,167 shares during the period. JPMorgan Chase & Co. bought a new stake in First United during the second quarter valued at $148,000. New York State Common Retirement Fund bought a new stake in First United during the second quarter valued at $105,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in First United during the 2nd quarter worth about $102,000. 33.27% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FUNC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of First United in a report on Friday, July 10th. Wall Street Zen raised First United from a “hold” rating to a “buy” rating in a research report on Saturday, July 25th. Raymond James Financial lifted their target price on First United from $44.00 to $50.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Hovde Group reiterated an “outperform” rating and issued a $49.00 price target on shares of First United in a research report on Thursday, July 23rd. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average 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.