Insider Selling: First United Co. (NASDAQ:FUNC) Director Sells $55,040.00 in Stock

First United Co. (NASDAQ:FUNC) Director Irvin Robert Rudy sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $27.52, for a total value of $55,040.00. Following the completion of the transaction, the director now owns 37,000 shares in the company, valued at approximately $1,018,240. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First United Trading Down 0.1 %

Shares of NASDAQ:FUNC opened at $27.66 on Monday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.43. The stock has a market capitalization of $183.91 million, a PE ratio of 12.87 and a beta of 0.79. First United Co. has a 1 year low of $15.68 and a 1 year high of $27.99. The firm has a fifty day moving average price of $21.29 and a 200 day moving average price of $21.94.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.75 earnings per share for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $27.95 million during the quarter, compared to analysts’ expectations of $19.34 million. First United had a return on equity of 11.85% and a net margin of 13.84%. Analysts expect that First United Co. will post 3 EPS for the current fiscal year.

First United Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, August 1st. Shareholders of record on Thursday, July 18th will be given a dividend of $0.20 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 2.89%. First United’s payout ratio is currently 37.21%.

Analyst Ratings Changes

Separately, StockNews.com downgraded shares of First United from a “buy” rating to a “hold” rating in a research report on Monday, July 22nd.

Hedge Funds Weigh In On First United

Several hedge funds and other institutional investors have recently added to or reduced their stakes in FUNC. AJOVista LLC bought a new stake in shares of First United during the 4th quarter worth $49,000. Empowered Funds LLC lifted its position in First United by 8.0% during the 1st quarter. Empowered Funds LLC now owns 16,136 shares of the bank’s stock worth $370,000 after acquiring an additional 1,192 shares during the last quarter. Acadian Asset Management LLC boosted its holdings in First United by 283.2% during the first quarter. Acadian Asset Management LLC now owns 38,725 shares of the bank’s stock valued at $886,000 after acquiring an additional 28,619 shares during the period. Gendell Jeffrey L boosted its holdings in First United by 4.4% during the fourth quarter. Gendell Jeffrey L now owns 167,704 shares of the bank’s stock valued at $3,943,000 after acquiring an additional 7,064 shares during the period. Finally, Hillsdale Investment Management Inc. acquired a new stake in shares of First United in the first quarter valued at about $111,000. 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.