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

First United Corporation (NASDAQ:FUNC)’s share price crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $36.27 and traded as high as $38.03. First United shares last traded at $38.03, with a volume of 31,176 shares.

Wall Street Analysts Forecast Growth

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

First United Trading Up 1.5%

The firm has a 50 day moving average of $38.01 and a 200 day moving average of $36.27. The firm has a market cap of $247.08 million, a PE ratio of 9.93 and a beta of 0.54. The company has a quick ratio of 0.93, a current ratio of 0.93 and a debt-to-equity ratio of 0.48.

First United (NASDAQ:FUNC) last issued its earnings results on Tuesday, October 21st. The bank reported $1.07 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.89 by $0.18. First United had a return on equity of 13.24% and a net margin of 21.02%.The firm had revenue of $22.80 million for the quarter, compared to analyst estimates of $22.13 million. During the same period in the previous year, the company posted $0.89 earnings per share. Equities analysts anticipate that First United Corporation will post 3.75 earnings per share for the current year.

First United Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Monday, February 2nd. Stockholders of record on Friday, January 16th will be given a $0.26 dividend. The ex-dividend date of this dividend is Friday, January 16th. This represents a $1.04 annualized dividend and a dividend yield of 2.7%. First United’s payout ratio is 27.15%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Millennium Management LLC raised its holdings in First United by 349.9% during the 1st quarter. Millennium Management LLC now owns 140,586 shares of the bank’s stock valued at $4,220,000 after acquiring an additional 109,340 shares during the period. Fourthstone LLC purchased a new position in shares of First United in the second quarter valued at $2,965,000. Geode Capital Management LLC grew its position in shares of First United by 112.3% in the second quarter. Geode Capital Management LLC now owns 139,939 shares of the bank’s stock valued at $4,340,000 after purchasing an additional 74,032 shares in the last quarter. Hillsdale Investment Management Inc. raised its stake in shares of First United by 29,055.6% during the 2nd quarter. Hillsdale Investment Management Inc. now owns 52,480 shares of the bank’s stock valued at $1,627,000 after purchasing an additional 52,300 shares during the period. Finally, TrueMark Investments LLC purchased a new stake in First United during the 3rd quarter worth about $1,282,000. 33.27% of the stock is owned by institutional investors.

About First United

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.