Robert Fisher II Sells 5,250 Shares of First United (NASDAQ:FUNC) Stock

First United Corporation (NASDAQ:FUNC) EVP Robert Fisher II sold 5,250 shares of the stock in a transaction dated Tuesday, July 28th. The stock was sold at an average price of $45.29, for a total value of $237,772.50. Following the sale, the executive vice president owned 9,105 shares of the company’s stock, valued at approximately $412,365.45. The trade was a 36.57% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

First United Trading Down 2.1%

Shares of FUNC stock traded down $0.96 during mid-day trading on Wednesday, hitting $44.63. The company’s stock had a trading volume of 79,505 shares, compared to its average volume of 18,372. The company has a market cap of $287.73 million, a PE ratio of 11.56 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. The company’s fifty day simple moving average is $42.29 and its 200-day simple moving average is $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, beating 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 analyst estimates of $23.55 million. As a group, equities research analysts expect that First United Corporation will post 4.5 earnings per share for the current fiscal year.

First United Announces Dividend

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

Analyst Upgrades and Downgrades

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

Hedge Funds Weigh In On First United

A number of institutional investors have recently modified their holdings of the company. AdvisorNet Financial Inc grew its position 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 period. Kestra Advisory Services LLC acquired a new position in First United during the fourth quarter worth $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 worth $56,000 after buying an additional 770 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new position in shares of First United in the second quarter valued at $102,000. Finally, New York State Common Retirement Fund bought a new position in shares of First United in the second quarter valued at $105,000. 33.27% of the stock is owned by institutional investors and hedge funds.

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.