First United (NASDAQ:FUNC) Share Price Passes Below 200-Day Moving Average – What’s Next?

First United Corporation (NASDAQ:FUNC)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $37.57 and traded as low as $37.46. First United shares last traded at $38.17, with a volume of 21,681 shares.

Analyst Ratings Changes

Separately, Wall Street Zen upgraded First United from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock has an average rating of “Buy”.

First United Trading Up 2.7%

The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $246.20 million, a PE ratio of 9.76 and a beta of 0.52. The business’s 50-day moving average is $37.32 and its two-hundred day moving average is $37.57.

First United (NASDAQ:FUNC) last issued its quarterly earnings data on Tuesday, April 21st. The bank reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.92 by $0.10. First United had a return on equity of 13.39% and a net margin of 20.55%.The company had revenue of $23.41 million for the quarter, compared to analyst estimates of $22.83 million. On average, analysts anticipate that First United Corporation will post 4.4 earnings per share for the current fiscal year.

First United Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 17th were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 2.7%. The ex-dividend date was Friday, April 17th. First United’s dividend payout ratio (DPR) is currently 26.60%.

Institutional Investors Weigh In On First United

Several large investors have recently modified their holdings of FUNC. Invesco Ltd. grew its position in shares of First United by 3.4% during the second quarter. Invesco Ltd. now owns 11,105 shares of the bank’s stock worth $344,000 after acquiring an additional 364 shares during the last quarter. JPMorgan Chase & Co. boosted its stake in First United by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,208 shares of the bank’s stock worth $191,000 after purchasing an additional 431 shares during the period. AdvisorNet Financial Inc boosted its stake in First United by 126.8% during the 1st quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock worth $33,000 after purchasing an additional 501 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of First United by 6.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 11,672 shares of the bank’s stock valued at $437,000 after buying an additional 743 shares during the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in shares of First United by 102.1% during the third quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock worth $56,000 after buying an additional 770 shares during the period. 33.27% of the stock is owned by institutional investors and hedge funds.

About First United

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.