De Lisle Partners LLP Invests $7.28 Million in First United Corporation $FUNC

De Lisle Partners LLP purchased a new position in shares of First United Corporation (NASDAQ:FUNC) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 164,390 shares of the bank’s stock, valued at approximately $7,277,000.

Several other large investors have also bought and sold shares of FUNC. Millennium Management LLC boosted its stake in First United by 349.9% in the first quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock valued at $4,220,000 after acquiring an additional 109,340 shares during the last quarter. Goldman Sachs Group Inc. lifted its stake in shares of First United by 53.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 58,718 shares of the bank’s stock valued at $1,763,000 after purchasing an additional 20,387 shares during the period. Empowered Funds LLC lifted its stake in shares of First United by 6.7% in the 1st quarter. Empowered Funds LLC now owns 26,549 shares of the bank’s stock valued at $797,000 after purchasing an additional 1,656 shares during the period. Jane Street Group LLC boosted its position in shares of First United by 67.4% in the 1st quarter. Jane Street Group LLC now owns 26,035 shares of the bank’s stock worth $782,000 after purchasing an additional 10,483 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of First United by 112.3% in the 2nd quarter. Geode Capital Management LLC now owns 139,939 shares of the bank’s stock worth $4,340,000 after purchasing an additional 74,032 shares during the last quarter. 33.27% of the stock is currently owned by institutional investors and hedge funds.

First United Price Performance

FUNC opened at $42.94 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. First United Corporation has a 12 month low of $33.54 and a 12 month high of $46.30. The company has a fifty day simple moving average of $44.23 and a 200 day simple moving average of $39.92. The stock has a market cap of $277.13 million, a P/E ratio of 11.12 and a beta of 0.52.

First United (NASDAQ:FUNC) last posted its earnings results on Monday, July 20th. The bank reported $1.13 earnings per share for the quarter, topping the consensus estimate of $1.05 by $0.08. The firm had revenue of $65.27 million for the quarter, compared to analyst estimates of $23.55 million. First United had a return on equity of 13.69% and a net margin of 20.05%. On average, research analysts expect that First United Corporation will post 4.5 EPS for the current year.

First United Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Monday, July 20th were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 2.4%. The ex-dividend date was Monday, July 20th. First United’s payout ratio is 26.94%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FUNC. Hovde Group reaffirmed an “outperform” rating and set a $49.00 price objective on shares of First United in a research note on Thursday, July 23rd. Wall Street Zen lowered First United from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Raymond James Financial raised 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, Weiss Ratings restated a “buy (b)” rating on shares of First United in a research report on Friday, July 10th. Three equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $49.50.

Insider Activity at First United

In related news, EVP Keith Sanders sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, July 23rd. The stock was sold at an average price of $43.68, for a total value of $218,400.00. Following the completion of the transaction, the executive vice president directly owned 10,342 shares in the company, valued at approximately $451,738.56. The trade was a 32.59% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Irvin Robert Rudy sold 1,000 shares of the firm’s stock in a transaction that occurred on Friday, July 24th. The stock was sold at an average price of $44.58, for a total transaction of $44,580.00. Following the sale, the director owned 37,500 shares in the company, valued at $1,671,750. This trade represents a 2.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders acquired 280 shares of company stock worth $12,816 and sold 11,250 shares worth $500,752. 8.10% of the stock is owned by insiders.

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.