First United (NASDAQ:FUNC) Stock Price Passes Below Two Hundred Day Moving Average - Time to Sell?

Key Points

• Shares of First United (FUNC) slipped below their 200-day moving average of $37.22, trading as low as $35.99 and last at $36.99, a potential bearish technical signal.
• The bank beat quarterly estimates with $1.10 EPS (vs. $0.96) and $23.5M revenue (vs. $22.8M), and shows a PE of 9.81, ROE of 13.33% and a net margin of 20.19%, indicating solid fundamentals.
• First United pays a $0.26 quarterly dividend (annualized yield 2.8%, payout ratio 27.6%); analysts have an average Buy rating (Weiss Ratings reiterated "buy (b-)") and institutional ownership is about 33%.

Shares of First United Corporation (NASDAQ:FUNC - Get Free Report) crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $37.22 and traded as low as $35.99. First United shares last traded at $36.99, with a volume of 22,745 shares trading hands.

Analysts Set New Price Targets

Separately, Weiss Ratings reiterated a "buy (b-)" rating on shares of First United in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, Based on data from MarketBeat, First United has an average rating of "Buy".

First United Stock Performance

The company has a debt-to-equity ratio of 0.47, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market cap of $240.44 million, a PE ratio of 9.81 and a beta of 0.54. The business has a fifty day simple moving average of $37.22 and a two-hundred day simple moving average of $37.22.

First United (NASDAQ:FUNC - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The bank reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.96 by $0.14. The business had revenue of $23.50 million for the quarter, compared to the consensus estimate of $22.80 million. First United had a return on equity of 13.33% and a net margin of 20.19%. Research analysts anticipate that First United Corporation will post 3.75 earnings per share for the current year.

First United Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 17th will be paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 2.8%. The ex-dividend date is Friday, April 17th. First United's payout ratio is 27.59%.

Hedge Funds Weigh In On First United

Large investors have recently added to or reduced their stakes in the company. TrueMark Investments LLC purchased a new position in shares of First United in the 3rd quarter worth approximately $1,282,000. De Lisle Partners LLP raised its stake in shares of First United by 7.9% during the 2nd quarter. De Lisle Partners LLP now owns 150,390 shares of the bank's stock worth $4,670,000 after acquiring an additional 11,016 shares in the last quarter. Fourthstone LLC purchased a new stake in First United during the second quarter valued at approximately $2,965,000. HoldCo Asset Management LP purchased a new stake in First United during the second quarter valued at approximately $645,000. Finally, SummerHaven Investment Management LLC acquired a new stake in First United in the third quarter valued at approximately $926,000. 33.27% of the stock is currently owned by institutional investors.

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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