First United (NASDAQ:FUNC) EVP Sells $218,400.00 in Stock

First United Corporation (NASDAQ:FUNC) EVP Keith Sanders sold 5,000 shares of the firm’s stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $43.68, for a total value of $218,400.00. Following the transaction, the executive vice president directly owned 10,342 shares in the company, valued at $451,738.56. This trade represents a 32.59% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website.

First United Trading Up 1.0%

Shares of NASDAQ:FUNC traded up $0.45 during trading on Tuesday, reaching $45.33. 7,483 shares of the company traded hands, compared to its average volume of 17,745. The business’s fifty day moving average is $42.12 and its 200-day moving average is $39.02. First United Corporation has a 52-week low of $31.71 and a 52-week high of $46.30. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $292.35 million, a price-to-earnings ratio of 11.74 and a beta of 0.52.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. First United had a net margin of 20.05% and a return on equity of 13.85%. The business had revenue of $23.94 million for the quarter, compared to analyst estimates of $23.55 million. As a group, analysts forecast that First United Corporation will post 4.5 EPS for the current year.

First United Announces Dividend

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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date of this dividend is Monday, July 20th. First United’s payout ratio is presently 26.94%.

Analysts Set New Price Targets

Several equities research analysts recently commented 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 lifted their target price on shares of First United from $44.00 to $50.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First United in a report on Friday, July 10th. Finally, Hovde Group reissued an “outperform” rating and issued a $49.00 target price on shares of First United in a report on Thursday, July 23rd. Three research analysts have rated the stock with a Buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and a consensus price target of $49.50.

Hedge Funds Weigh In On First United

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

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.