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

Key Points

• First United Corporation's stock has surpassed its 200-day moving average of $31.88, reaching a trading high of $34.90.
• The company reported earnings per share (EPS) of $0.92 for the last quarter, beating analysts' expectations of $0.84.
• Wall Street analysts recently upgraded First United from a "hold" to a "buy" rating, indicating bullish sentiment about the stock's performance.

First United Corporation (NASDAQ:FUNC - Get Free Report) passed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $31.88 and traded as high as $34.90. First United shares last traded at $34.30, with a volume of 17,732 shares.

Wall Street Analyst Weigh In

Separately, Wall Street Zen upgraded First United from a "hold" rating to a "buy" rating in a research report on Tuesday, May 20th.

First United Trading Up 0.6%

The firm's fifty day moving average price is $31.40 and its 200-day moving average price is $31.88. The company has a market cap of $222.26 million, a price-to-earnings ratio of 9.40 and a beta of 0.61. The company has a debt-to-equity ratio of 0.66, a current ratio of 0.94 and a quick ratio of 0.94.

First United (NASDAQ:FUNC - Get Free Report) last posted its earnings results on Monday, July 21st. The bank reported $0.92 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.84 by $0.08. First United had a net margin of 20.53% and a return on equity of 13.27%. The firm had revenue of $21.65 million during the quarter, compared to analyst estimates of $21.26 million. On average, equities analysts expect that First United Corporation will post 3.75 EPS for the current fiscal year.

First United Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be given a dividend of $0.22 per share. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.88 annualized dividend and a dividend yield of 2.57%. First United's dividend payout ratio is presently 24.11%.

Institutional Trading of First United

Large investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC boosted its position in First United by 194.4% during the 4th quarter. Tower Research Capital LLC TRC now owns 742 shares of the bank's stock worth $25,000 after acquiring an additional 490 shares during the period. Price T Rowe Associates Inc. MD acquired a new stake in First United in the fourth quarter worth about $237,000. Mackenzie Financial Corp acquired a new stake in First United in the first quarter worth about $236,000. Barclays PLC grew its position in First United by 122.2% in the 4th quarter. Barclays PLC now owns 9,374 shares of the bank's stock valued at $317,000 after buying an additional 5,156 shares in the last quarter. Finally, 683 Capital Management LLC acquired a new position in First United during the 4th quarter valued at about $339,000. 33.27% of the stock is currently owned by institutional investors and hedge funds.

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.

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