First United (NASDAQ:FUNC) Stock Price Passes Above Two Hundred Day Moving Average – Should You Sell?

First United Corporation (NASDAQ:FUNC)’s share price passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.66 and traded as high as $36.28. First United shares last traded at $36.21, with a volume of 18,299 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of First United in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the company currently has an average rating of “Buy” and a consensus target price of $42.00.

First United Stock Up 1.3%

The firm has a 50 day moving average of $36.31 and a two-hundred day moving average of $33.66. The stock has a market capitalization of $235.26 million, a PE ratio of 9.45 and a beta of 0.70. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63.

First United (NASDAQ:FUNC) last posted its earnings results on Tuesday, October 21st. The bank reported $1.07 earnings per share for the quarter, beating the consensus estimate of $0.89 by $0.18. First United had a return on equity of 13.49% and a net margin of 21.02%.The company had revenue of $22.80 million for the quarter, compared to analyst estimates of $22.13 million. During the same quarter in the prior year, the company earned $0.89 earnings per share. Equities research analysts anticipate that First United Corporation will post 3.75 earnings per share for the current year.

First United Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Shareholders of record on Friday, October 17th were issued a dividend of $0.26 per share. This is an increase from First United’s previous quarterly dividend of $0.22. The ex-dividend date was Friday, October 17th. This represents a $1.04 annualized dividend and a yield of 2.9%. First United’s payout ratio is 27.15%.

Insider Activity

In other news, Director Irvin Robert Rudy sold 2,000 shares of the stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $37.35, for a total value of $74,700.00. Following the sale, the director directly owned 37,500 shares in the company, valued at $1,400,625. This represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders have bought a total of 407 shares of company stock valued at $14,319 over the last quarter. 7.90% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First United

Large investors have recently bought and sold shares of the stock. Cubist Systematic Strategies LLC raised its holdings in shares of First United by 187.4% in the first quarter. Cubist Systematic Strategies LLC now owns 11,246 shares of the bank’s stock worth $338,000 after acquiring an additional 7,333 shares during the last quarter. Huber Capital Management LLC increased its position in First United by 0.5% during the 1st quarter. Huber Capital Management LLC now owns 124,239 shares of the bank’s stock worth $3,730,000 after purchasing an additional 625 shares in the last quarter. Corton Capital Inc. acquired a new position in First United in the 2nd quarter valued at about $265,000. Acadian Asset Management LLC boosted its stake in shares of First United by 2.2% during the 1st quarter. Acadian Asset Management LLC now owns 88,867 shares of the bank’s stock worth $2,666,000 after purchasing an additional 1,949 shares during the last quarter. Finally, OMERS ADMINISTRATION Corp purchased a new stake in shares of First United during the first quarter worth about $312,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

First United Company Profile

First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. It offers various deposit products, which includes checking, savings, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.