First United (NASDAQ:FUNC) Stock Price Passes Above 200 Day Moving Average – Time to Sell?

First United Corporation (NASDAQ:FUNC)’s share price passed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $32.24 and traded as high as $36.75. First United shares last traded at $36.44, with a volume of 17,544 shares traded.

First United Stock Down 0.9%

The firm has a fifty day simple moving average of $35.64 and a 200-day simple moving average of $32.24. The company has a market capitalization of $236.50 million, a P/E ratio of 9.98 and a beta of 0.70. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.63.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, July 21st. The bank reported $0.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.84 by $0.08. First United had a return on equity of 13.05% and a net margin of 20.53%.The company had revenue of $21.65 million during the quarter, compared to the consensus estimate of $21.26 million. On average, equities research analysts expect that First United Corporation will post 3.75 EPS for the current fiscal year.

First United Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 3rd. Shareholders of record on Friday, October 17th will be issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 2.9%. This is an increase from First United’s previous quarterly dividend of $0.22. The ex-dividend date is Friday, October 17th. First United’s dividend payout ratio is currently 24.11%.

Insider Activity

In related news, Director Irvin Robert Rudy sold 2,000 shares of the stock in a transaction dated Tuesday, August 26th. The stock was sold at an average price of $37.35, for a total transaction of $74,700.00. Following the completion of the transaction, the director directly owned 37,500 shares in the company, valued at approximately $1,400,625. This trade represents a 5.06% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders bought 309 shares of company stock worth $10,113 in the last ninety days. 7.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. De Lisle Partners LLP grew its holdings in shares of First United by 7.9% during the second quarter. De Lisle Partners LLP now owns 150,390 shares of the bank’s stock worth $4,670,000 after buying an additional 11,016 shares in the last quarter. Millennium Management LLC grew its holdings in shares of First United by 349.9% during the first quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock worth $4,220,000 after buying an additional 109,340 shares in the last quarter. Geode Capital Management LLC grew its holdings in shares of First United by 112.3% during the second quarter. Geode Capital Management LLC now owns 139,939 shares of the bank’s stock worth $4,340,000 after buying an additional 74,032 shares in the last quarter. Huber Capital Management LLC grew its holdings in shares of First United by 0.5% during the first quarter. Huber Capital Management LLC now owns 124,239 shares of the bank’s stock worth $3,730,000 after buying an additional 625 shares in the last quarter. Finally, Fourthstone LLC bought a new position in shares of First United during the second quarter worth about $2,965,000. 33.27% of the stock is currently owned by institutional investors.

About First United

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.