First United (NASDAQ:FUNC) Shares Pass Above 200-Day Moving Average – Time to Sell?

First United Corporation (NASDAQ:FUNC)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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.

Analyst Ratings Changes

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

First United Trading Up 1.3%

The firm has a market cap of $235.26 million, a price-to-earnings ratio of 9.45 and a beta of 0.70. The business’s 50 day moving average price is $36.31 and its 200-day moving average price is $33.66. The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 0.94.

First United (NASDAQ:FUNC) last released its earnings results on Tuesday, October 21st. The bank reported $1.07 EPS for the quarter, topping analysts’ consensus estimates 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 the consensus estimate of $22.13 million. During the same quarter last year, the business posted $0.89 EPS. Equities analysts expect that First United Corporation will post 3.75 EPS 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 represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. This is a positive change from First United’s previous quarterly dividend of $0.22. The ex-dividend date of this dividend was Friday, October 17th. First United’s dividend payout ratio is currently 27.15%.

Insider Activity at First United

In related news, Director Irvin Robert Rudy sold 2,000 shares of the business’s stock in a transaction dated Tuesday, August 26th. The shares were sold at an average price of $37.35, for a total transaction of $74,700.00. Following the completion of the sale, the director owned 37,500 shares of the company’s stock, valued at $1,400,625. This represents a 5.06% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last ninety days, insiders have bought 407 shares of company stock valued at $14,319. Insiders own 7.90% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in FUNC. Millennium Management LLC increased its position in First United by 349.9% in 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 during the period. Fourthstone LLC bought a new stake in First United in the second quarter worth about $2,965,000. Geode Capital Management LLC grew its position in First United by 112.3% in 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 during the last quarter. Hillsdale Investment Management Inc. grew its holdings in shares of First United by 29,055.6% in the 2nd quarter. Hillsdale Investment Management Inc. now owns 52,480 shares of the bank’s stock worth $1,627,000 after acquiring an additional 52,300 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in First United by 65.2% during the 1st quarter. American Century Companies Inc. now owns 90,008 shares of the bank’s stock worth $2,702,000 after buying an additional 35,521 shares during the period. 33.27% of the stock is currently owned by institutional investors.

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.