First United (NASDAQ:FUNC) Stock Price Crosses Above Two Hundred Day Moving Average – Here’s Why

First United Corporation (NASDAQ:FUNC) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $33.66 and traded as high as $36.28. First United shares last traded at $36.21, with a volume of 18,299 shares.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reiterated a “buy (b-)” rating on shares of First United in a report on Wednesday, October 8th. Two equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $42.00.

First United Stock Up 1.3%

The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.63. The stock’s 50-day moving average price is $36.31 and its 200-day moving average price is $33.66. The company has a market cap of $235.26 million, a P/E ratio of 9.45 and a beta of 0.70.

First United (NASDAQ:FUNC) last issued its earnings results on Tuesday, October 21st. The bank reported $1.07 EPS for the quarter, beating analysts’ consensus estimates of $0.89 by $0.18. First United had a return on equity of 13.49% and a net margin of 21.02%.The business had revenue of $22.80 million during the quarter, compared to analyst estimates of $22.13 million. During the same period in the previous year, the company posted $0.89 EPS. As a group, research analysts forecast that First United Corporation will post 3.75 EPS for the current year.

First United Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Monday, November 3rd. Stockholders of record on Friday, October 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, October 17th. This is a positive change from First United’s previous quarterly dividend of $0.22. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.9%. First United’s payout ratio is currently 27.15%.

Insider Activity

In related news, Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction on Tuesday, August 26th. The shares were sold at an average price of $37.35, for a total value of $74,700.00. Following the completion of the sale, the director owned 37,500 shares of the company’s stock, valued at approximately $1,400,625. This trade represents a 5.06% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In the last quarter, insiders acquired 407 shares of company stock valued at $14,319. 7.90% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. TD Waterhouse Canada Inc. bought a new position in shares of First United in the second quarter valued at $31,000. Police & Firemen s Retirement System of New Jersey acquired a new stake in shares of First United in the 2nd quarter worth about $36,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new stake in shares of First United in the 2nd quarter worth about $102,000. New York State Common Retirement Fund bought a new position in First United in the 2nd quarter valued at about $105,000. Finally, JPMorgan Chase & Co. acquired a new position in First United during the 2nd quarter valued at about $148,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

About First United

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.