First United (NASDAQ:FUNC) Stock Crosses Above 200 Day Moving Average - Should You Sell?

Key Points

• First United shares moved above their 200-day moving average, trading as high as $44.95 and recently at $44.46, compared with the $39.50 long-term average.
• Analysts remain bullish, with three Buy ratings, an average rating of “Buy,” and a consensus price target of $49.50. The company also exceeded quarterly EPS expectations, reporting $1.13 versus the $1.05 consensus.
• First United declared a quarterly dividend of $0.26, equivalent to an annualized $1.04 payout and a 2.3% yield. However, insiders sold 11,250 shares worth about $500,752 over the past 90 days.

First United Corporation (NASDAQ:FUNC - Get Free Report) shares passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $39.50 and traded as high as $44.95. First United shares last traded at $44.46, with a volume of 14,141 shares trading hands.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FUNC. Weiss Ratings reiterated a "buy (b)" rating on shares of First United in a research report on Friday, July 10th. Hovde Group restated an "outperform" rating and set a $49.00 price objective on shares of First United in a research report on Thursday, July 23rd. Raymond James Financial lifted their price objective on shares of First United from $44.00 to $50.00 and gave the stock an "outperform" rating in a report on Wednesday, July 1st. Finally, Wall Street Zen upgraded shares of First United from a "hold" rating to a "buy" rating in a research report on Saturday, July 25th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of "Buy" and a consensus target price of $49.50.

First United Trading Down 0.6%

The stock has a fifty day moving average of $43.44 and a two-hundred day moving average of $39.50. The company has a market capitalization of $286.63 million, a PE ratio of 11.52 and a beta of 0.52. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15.

First United (NASDAQ:FUNC - Get Free Report) last issued its earnings results on Monday, July 20th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.05 by $0.08. First United had a return on equity of 13.85% and a net margin of 20.05%.The business had revenue of $65.27 million during the quarter, compared to analyst estimates of $23.55 million. As a group, sell-side analysts anticipate that First United Corporation will post 4.5 earnings per share for the current fiscal year.

First United Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, August 3rd. Stockholders of record on Monday, July 20th were paid a $0.26 dividend. The ex-dividend date of this dividend was Monday, July 20th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.3%. First United's dividend payout ratio is 26.94%.

Insider Activity at First United

In other First United news, EVP Robert L. Fisher II sold 5,250 shares of the business's stock in a transaction on Tuesday, July 28th. The shares were sold at an average price of $45.29, for a total value of $237,772.50. Following the completion of the sale, the executive vice president directly owned 9,105 shares of the company's stock, valued at $412,365.45. The trade was a 36.57% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Keith Sanders sold 5,000 shares of the company's stock in a transaction dated Thursday, July 23rd. The shares were sold at an average price of $43.68, for a total transaction of $218,400.00. Following the sale, the executive vice president owned 10,342 shares of the company's stock, valued at approximately $451,738.56. The trade was a 32.59% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have acquired 280 shares of company stock valued at $12,816 and have sold 11,250 shares valued at $500,752. 8.10% of the stock is owned by insiders.

Institutional Investors Weigh In On First United

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. AdvisorNet Financial Inc boosted its holdings in First United by 126.8% during the 1st quarter. AdvisorNet Financial Inc now owns 896 shares of the bank's stock valued at $33,000 after acquiring an additional 501 shares during the period. Kestra Advisory Services LLC purchased a new position in First United in the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets lifted its position in First United by 102.1% in the third quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank's stock valued at $56,000 after purchasing an additional 770 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in First United in the second quarter valued at approximately $102,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of First United during the second quarter valued at approximately $105,000. Institutional investors own 33.27% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

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