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

First United Corporation (NASDAQ:FUNC)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $37.57 and traded as low as $37.46. First United shares last traded at $38.17, with a volume of 21,681 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Wall Street Zen upgraded shares of First United from a “hold” rating to a “buy” rating in a research note on Saturday, May 16th. One analyst has rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of “Buy”.

First United Trading Up 2.7%

The company’s 50 day simple moving average is $37.32 and its 200 day simple moving average is $37.57. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market cap of $246.20 million, a price-to-earnings ratio of 9.76 and a beta of 0.52.

First United (NASDAQ:FUNC) last released its earnings results on Tuesday, April 21st. The bank reported $1.02 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.92 by $0.10. First United had a return on equity of 13.39% and a net margin of 20.55%.The firm had revenue of $23.41 million during the quarter, compared to analyst estimates of $22.83 million. As a group, research analysts expect that First United Corporation will post 4.4 earnings per share for the current fiscal year.

First United Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 17th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, April 17th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. First United’s payout ratio is currently 26.60%.

Institutional Trading of First United

Several hedge funds have recently added to or reduced their stakes in the company. AdvisorNet Financial Inc lifted its stake in First United by 126.8% in the first quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock worth $33,000 after acquiring an additional 501 shares during the last quarter. Kestra Advisory Services LLC purchased a new stake in shares of First United in the 4th quarter valued at approximately $38,000. BNP Paribas Financial Markets raised its holdings in shares of First United by 102.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock valued at $56,000 after purchasing an additional 770 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new stake in shares of First United during the 2nd quarter worth $102,000. Finally, New York State Common Retirement Fund purchased a new stake in shares of First United during the 2nd quarter worth $105,000. Institutional investors and hedge funds own 33.27% of the company’s stock.

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.