De Lisle Partners LLP Purchases Shares of 164,390 First United Corporation $FUNC

Key Points

• De Lisle Partners LLP acquired 164,390 shares of First United, valued at approximately $7.3 million, giving it a 2.55% stake. Institutional investors collectively own 33.27% of the bank.
• First United reported quarterly earnings of $1.13 per share, exceeding analysts’ $1.05 estimate, while posting a 20.05% net margin and 13.69% return on equity. The company also pays a quarterly dividend of $0.26, equivalent to a 2.4% yield.
• Analysts maintain a generally positive outlook, with an average “Buy” rating and a $49.50 price target versus the stock’s recent $42.94 price. However, insiders sold 11,250 shares worth roughly $500,752 during the last quarter.

De Lisle Partners LLP acquired a new position in shares of First United Corporation (NASDAQ:FUNC - Free Report) in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 164,390 shares of the bank's stock, valued at approximately $7,277,000. De Lisle Partners LLP owned approximately 2.55% of First United at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. BlackRock Inc. bought a new stake in shares of First United in the 2nd quarter worth about $20,125,000. Millennium Management LLC increased its position in shares of First United by 349.9% during the 1st quarter. Millennium Management LLC now owns 140,586 shares of the bank's stock worth $4,220,000 after purchasing an additional 109,340 shares in the last quarter. Geode Capital Management LLC lifted its holdings in First United by 112.3% during the 2nd quarter. Geode Capital Management LLC now owns 139,939 shares of the bank's stock valued at $4,340,000 after purchasing an additional 74,032 shares during the last quarter. Bank of New York Mellon Corp acquired a new position in First United in the second quarter valued at about $1,128,000. Finally, Marshall Wace LLP boosted its position in First United by 118.1% in the fourth quarter. Marshall Wace LLP now owns 44,047 shares of the bank's stock valued at $1,649,000 after buying an additional 23,850 shares in the last quarter. 33.27% of the stock is owned by institutional investors.

First United Stock Down 0.9%

Shares of NASDAQ:FUNC opened at $42.94 on Friday. 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 firm has a market cap of $277.13 million, a P/E ratio of 11.12 and a beta of 0.52. First United Corporation has a 12 month low of $33.54 and a 12 month high of $46.30. The company's 50-day moving average price is $44.23 and its two-hundred day moving average price is $39.92.

First United (NASDAQ:FUNC - Get Free Report) last announced its earnings results on Monday, July 20th. The bank reported $1.13 earnings per share for the quarter, topping analysts' consensus estimates of $1.05 by $0.08. First United had a net margin of 20.05% and a return on equity of 13.69%. The company had revenue of $65.27 million during the quarter, compared to the consensus estimate of $23.55 million. As a group, research analysts forecast that First United Corporation will post 4.5 EPS for the current fiscal year.

First United Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Investors of record on Monday, July 20th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.4%. The ex-dividend date was Monday, July 20th. First United's payout ratio is 26.94%.

Wall Street Analysts Forecast Growth

FUNC has been the subject of a number of research analyst reports. Hovde Group reiterated an "outperform" rating and issued a $49.00 target price on shares of First United in a research note on Thursday, July 23rd. Raymond James Financial increased their price target on First United from $44.00 to $50.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First United in a report on Friday, July 10th. Finally, Wall Street Zen downgraded First United from a "buy" rating to a "hold" rating in a research report on Saturday, August 15th. Three analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, First United currently has an average rating of "Buy" and an average price target of $49.50.

Insider Buying and Selling

In other First United news, EVP Keith Sanders sold 5,000 shares of the company's stock in a transaction on Thursday, July 23rd. The stock was sold at an average price of $43.68, for a total transaction of $218,400.00. Following the transaction, the executive vice president owned 10,342 shares of the company's stock, valued at approximately $451,738.56. This represents a 32.59% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Irvin Robert Rudy sold 1,000 shares of the stock in a transaction on Friday, July 24th. The shares were sold at an average price of $44.58, for a total value of $44,580.00. Following the completion of the transaction, the director owned 37,500 shares in the company, valued at $1,671,750. The trade was a 2.60% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders purchased 280 shares of company stock worth $12,816 and sold 11,250 shares worth $500,752. 8.10% of the stock is currently owned by corporate insiders.

First United Company Profile

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.

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