First United (NASDAQ:FUNC) Share Price Passes Above Two Hundred Day Moving Average – Time to Sell?

First United Corporation (NASDAQ:FUNC) crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $36.48 and traded as high as $39.95. First United shares last traded at $39.34, with a volume of 13,716 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “buy (b-)” rating on shares of First United in a report on Thursday. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock presently has an average rating of “Buy” and a consensus price target of $42.00.

First United Trading Down 6.5%

The firm has a fifty day moving average of $38.34 and a two-hundred day moving average of $36.51. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.48. The company has a market cap of $238.89 million, a PE ratio of 9.60 and a beta of 0.54.

First United Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, February 2nd. Shareholders of record on Friday, January 16th will be given a dividend of $0.26 per share. The ex-dividend date is Friday, January 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.8%. First United’s dividend payout ratio is currently 27.15%.

Institutional Trading of First United

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Millennium Management LLC lifted its stake in First United by 349.9% in the 1st quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock worth $4,220,000 after purchasing an additional 109,340 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of First United by 53.2% in the first quarter. Goldman Sachs Group Inc. now owns 58,718 shares of the bank’s stock worth $1,763,000 after purchasing an additional 20,387 shares during the period. Empowered Funds LLC increased its holdings in shares of First United by 6.7% in the first quarter. Empowered Funds LLC now owns 26,549 shares of the bank’s stock worth $797,000 after purchasing an additional 1,656 shares during the period. Jane Street Group LLC raised its position in shares of First United by 67.4% in the first quarter. Jane Street Group LLC now owns 26,035 shares of the bank’s stock worth $782,000 after buying an additional 10,483 shares in the last quarter. Finally, Corton Capital Inc. bought a new stake in First United during the second quarter valued at $265,000. 33.27% of the stock is currently owned by institutional investors.

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.