First United (NASDAQ:FUNC) Stock Price Crosses Above 200-Day Moving Average - What's Next?

Key Points

• First United Corporation's stock price has crossed above the 200-day moving average, currently trading at $34.46, indicating a potential positive trend.
• Analysts have upgraded First United from a "hold" to a "buy" rating, with a consensus target price of $42.00.
• The company recently declared a quarterly dividend of $0.22 per share, representing an annualized dividend of $0.88 and a yield of 2.6%.

First United Corporation (NASDAQ:FUNC - Get Free Report)'s stock price passed above its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $32.02 and traded as high as $35.06. First United shares last traded at $34.46, with a volume of 12,498 shares changing hands.

Analyst Upgrades and Downgrades

Separately, Wall Street Zen upgraded shares of First United from a "hold" rating to a "buy" rating in a report on Tuesday, May 20th. One investment analyst has rated the stock with a Buy rating, Based on data from MarketBeat.com, the company has a consensus rating of "Buy" and a consensus target price of $42.00.

First United Stock Performance

The company has a debt-to-equity ratio of 0.63, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $242.27 million, a P/E ratio of 10.23 and a beta of 0.69. The firm's 50 day moving average is $33.34 and its 200 day moving average is $32.05.

First United (NASDAQ:FUNC - Get Free Report) last posted its quarterly earnings data on Monday, July 21st. The bank reported $0.92 EPS for the quarter, topping the consensus estimate of $0.84 by $0.08. The firm had revenue of $21.65 million during the quarter, compared to analyst estimates of $21.26 million. First United had a net margin of 20.53% and a return on equity of 13.05%. Analysts anticipate that First United Corporation will post 3.75 EPS for the current year.

First United Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 18th were given a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.4%. The ex-dividend date of this dividend was Friday, July 18th. First United's payout ratio is currently 24.11%.

Insiders Place Their Bets

In other First United news, Director Irvin Robert Rudy sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, August 26th. The shares were sold at an average price of $37.35, for a total transaction of $74,700.00. Following the sale, the director owned 37,500 shares of the company's stock, valued at approximately $1,400,625. The trade was a 5.06% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Over the last quarter, insiders have purchased 309 shares of company stock worth $10,113. 7.90% of the stock is currently owned by insiders.

Institutional Trading of First United

Large investors have recently bought and sold shares of the stock. Tower Research Capital LLC TRC grew 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 purchasing an additional 490 shares during the last quarter. TD Waterhouse Canada Inc. purchased a new stake in First United during the 2nd quarter worth approximately $31,000. Police & Firemen s Retirement System of New Jersey purchased a new stake in First United during the 2nd quarter worth approximately $36,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in First United during the 2nd quarter worth approximately $102,000. Finally, New York State Common Retirement Fund purchased a new stake in First United during the 2nd quarter worth approximately $105,000. Hedge funds and other institutional investors own 33.27% of the company's stock.

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.