Irvin Robert Rudy Sells 1,000 Shares of First United (NASDAQ:FUNC) Stock

First United Corporation (NASDAQ:FUNC) Director Irvin Robert Rudy sold 1,000 shares of the stock in a transaction that occurred on Friday, July 24th. The shares were sold at an average price of $44.58, for a total transaction of $44,580.00. Following the completion of the transaction, the director directly owned 37,500 shares of the company’s stock, valued at approximately $1,671,750. The trade was a 2.60% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First United Stock Performance

NASDAQ FUNC opened at $44.73 on Thursday. The firm’s fifty day moving average price is $42.44 and its two-hundred day moving average price is $39.13. The stock has a market cap of $288.51 million, a PE ratio of 11.59 and a beta of 0.52. First United Corporation has a fifty-two week low of $31.71 and a fifty-two week high of $46.30. 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 (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 the consensus estimate of $1.05 by $0.08. First United had a net margin of 20.05% and a return on equity of 13.85%. The company had revenue of $23.94 million during the quarter, compared to the consensus estimate of $23.55 million. On average, equities analysts expect that First United Corporation will post 4.5 EPS for the current fiscal year.

First United Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, August 3rd. Shareholders of record on Monday, July 20th will be issued a $0.26 dividend. 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 dividend payout ratio is presently 26.94%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FUNC shares. Weiss Ratings reissued a “buy (b)” rating on shares of First United in a research note on Friday, July 10th. Raymond James Financial upped their price objective on First United from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen upgraded shares of First United from a “hold” rating to a “buy” rating in a report on Saturday, July 25th. Finally, Hovde Group reissued an “outperform” rating and set a $49.00 target price on shares of First United in a report on Thursday, July 23rd. Three investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, First United currently has an average rating of “Buy” and an average price target of $49.50.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of FUNC. Empowered Funds LLC grew its position in shares of First United by 6.3% in the 1st quarter. Empowered Funds LLC now owns 38,112 shares of the bank’s stock valued at $1,396,000 after buying an additional 2,243 shares during the last quarter. Hsbc Holdings PLC raised its position in shares of First United by 44.2% during the first quarter. Hsbc Holdings PLC now owns 11,508 shares of the bank’s stock worth $427,000 after acquiring an additional 3,528 shares during the last quarter. AdvisorNet Financial Inc lifted its stake in shares of First United by 126.8% in the first quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock worth $33,000 after acquiring an additional 501 shares during the period. Corient Private Wealth LLC bought a new stake in First United in the fourth quarter valued at approximately $205,000. Finally, Bridgeway Capital Management LLC boosted its holdings in First United by 4.7% in the fourth quarter. Bridgeway Capital Management LLC now owns 73,537 shares of the bank’s stock valued at $2,753,000 after acquiring an additional 3,293 shares during the last quarter. 33.27% of the stock is owned by institutional investors and hedge funds.

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.