Insider Selling: First United (NASDAQ:FUNC) Director Sells $46,260.00 in Stock

First United Corporation (NASDAQ:FUNC) Director Irvin Robert Rudy sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 3rd. The shares were sold at an average price of $46.26, for a total value of $46,260.00. Following the completion of the transaction, the director directly owned 36,500 shares in the company, valued at $1,688,490. This represents a 2.67% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.

First United Stock Down 3.4%

Shares of First United stock opened at $45.68 on Friday. The stock’s 50-day moving average is $44.14 and its 200 day moving average is $40.93. First United Corporation has a one year low of $34.29 and a one year high of $48.07. The firm has a market cap of $295.09 million, a price-to-earnings ratio of 11.71 and a beta of 0.52. The company has a debt-to-equity ratio of 0.14, a current ratio of 0.92 and a quick ratio of 0.91.

First United (NASDAQ:FUNC) last issued its earnings results on Monday, October 19th. The bank reported $1.11 earnings per share for the quarter, missing analysts’ consensus estimates of $1.14 by ($0.03). First United had a return on equity of 13.55% and a net margin of 19.99%. The business had revenue of $25.22 million during the quarter, compared to the consensus estimate of $24.37 million. Equities research analysts anticipate that First United Corporation will post 4.54 EPS for the current year.

First United Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, November 2nd. Stockholders of record on Monday, October 19th were paid a $0.28 dividend. The ex-dividend date was Monday, October 19th. This represents a $1.12 annualized dividend and a dividend yield of 2.5%. This is an increase from First United’s previous quarterly dividend of $0.26. First United’s dividend payout ratio (DPR) is presently 28.72%.

Hedge Funds Weigh In On First United

A number of institutional investors have recently modified their holdings of FUNC. BlackRock Inc. acquired a new position in First United during the second quarter worth $20,125,000. Bank of New York Mellon Corp acquired a new position in shares of First United during the second quarter valued at about $1,128,000. Empowered Funds LLC acquired a new position in shares of First United during the second quarter valued at about $1,681,000. De Lisle Partners LLP bought a new stake in shares of First United during the second quarter worth about $7,277,000. Finally, Pinnacle Holdings LLC bought a new stake in shares of First United during the second quarter worth about $2,599,000. 33.27% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FUNC shares. UBS Group raised shares of First United to a “buy” rating in a research note on Wednesday, October 21st. Wall Street Zen downgraded shares of First United from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Weiss Ratings reiterated a “buy (b)” rating on shares of First United in a report on Tuesday, October 6th. 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, Raymond James Financial reissued an “outperform” rating on shares of First United in a research report on Wednesday, October 21st. Four equities research analysts have rated the stock with a Buy rating. According to data from MarketBeat.com, First United has a consensus rating of “Buy” and a consensus target price of $49.50.

About First United

First United Corporation is a bank holding company headquartered in Oakland, Maryland. Through its principal subsidiary, First United Bank & Trust, the company provides community banking services to individuals, families, businesses and nonprofit organizations.

First United Bank & Trust offers deposit accounts, consumer and commercial lending, mortgage services, online and mobile banking, cash-management solutions, and wealth-management services. Its lending activities include residential mortgages, home-equity loans, personal loans, commercial real estate financing and other business credit products.

The company serves communities in western Maryland and northern West Virginia through a network of banking offices and digital channels.