First United Corp (NASDAQ:FUNC) Director Elaine L. Mcdonald purchased 500 shares of the firm’s stock in a transaction on Thursday, November 7th. The stock was bought at an average price of $23.10 per share, for a total transaction of $11,550.00. Following the acquisition, the director now owns 30,163 shares in the company, valued at $696,765.30. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.
Elaine L. Mcdonald also recently made the following trade(s):
- On Thursday, October 31st, Elaine L. Mcdonald purchased 600 shares of First United stock. The stock was bought at an average price of $23.10 per share, for a total transaction of $13,860.00.
- On Thursday, October 24th, Elaine L. Mcdonald purchased 900 shares of First United stock. The stock was bought at an average price of $23.17 per share, for a total transaction of $20,853.00.
Shares of FUNC opened at $23.53 on Friday. The company’s fifty day moving average is $22.94 and its two-hundred day moving average is $20.61. The firm has a market cap of $168.26 million, a PE ratio of 14.53 and a beta of 0.80. First United Corp has a fifty-two week low of $14.75 and a fifty-two week high of $23.88. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.83.
The business also recently announced a quarterly dividend, which was paid on Friday, November 1st. Stockholders of record on Wednesday, October 16th were given a $0.13 dividend. The ex-dividend date was Tuesday, October 15th. This represents a $0.52 annualized dividend and a dividend yield of 2.21%. This is an increase from First United’s previous quarterly dividend of $0.09.
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. EJF Capital LLC boosted its holdings in shares of First United by 56.0% in the 2nd quarter. EJF Capital LLC now owns 442,775 shares of the bank’s stock valued at $8,727,000 after buying an additional 158,972 shares during the period. Castine Capital Management LLC acquired a new position in shares of First United in the 2nd quarter valued at about $3,443,000. FNY Investment Advisers LLC acquired a new position in shares of First United in the 3rd quarter valued at about $1,495,000. Renaissance Technologies LLC boosted its holdings in shares of First United by 138.9% in the 2nd quarter. Renaissance Technologies LLC now owns 43,100 shares of the bank’s stock valued at $850,000 after buying an additional 25,061 shares during the period. Finally, Morgan Stanley boosted its holdings in shares of First United by 53.1% in the 2nd quarter. Morgan Stanley now owns 38,767 shares of the bank’s stock valued at $764,000 after buying an additional 13,447 shares during the period. 38.37% of the stock is owned by institutional investors.
Separately, ValuEngine lowered shares of First United from a “sell” rating to a “strong sell” rating in a report on Wednesday, October 2nd.
About First United
First United Corporation operates as the holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; Certificate of Deposit Account Registry Service program and Insured Cash Sweep program to municipalities, businesses, and consumers; and commercial customers packages, which include treasury management, cash sweep, and various checking opportunities.
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