Vanguard Group Inc. reduced its stake in shares of First United Corporation (NASDAQ:FUNC) by 5.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 160,100 shares of the bank’s stock after selling 8,488 shares during the quarter. Vanguard Group Inc. owned about 2.27% of First United worth $2,393,000 at the end of the most recent quarter.
Separately, Northern Trust Corp boosted its stake in First United by 4.4% during the second quarter. Northern Trust Corp now owns 72,536 shares of the bank’s stock valued at $1,081,000 after buying an additional 3,050 shares in the last quarter. 34.58% of the stock is currently owned by institutional investors and hedge funds.
In other news, Director Irvin Robert Rudy sold 3,500 shares of the firm’s stock in a transaction dated Wednesday, November 29th. The stock was sold at an average price of $17.42, for a total transaction of $60,970.00. Following the completion of the sale, the director now directly owns 31,123 shares of the company’s stock, valued at approximately $542,162.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders have sold a total of 6,705 shares of company stock valued at $116,194 over the last ninety days. Company insiders own 4.00% of the company’s stock.
Shares of First United Corporation (NASDAQ FUNC) opened at $17.40 on Friday. The stock has a market capitalization of $125.13, a PE ratio of 18.39 and a beta of 0.42. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.89 and a quick ratio of 0.89. First United Corporation has a one year low of $13.00 and a one year high of $18.30.
First United (NASDAQ:FUNC) last announced its quarterly earnings data on Monday, November 13th. The bank reported $0.25 earnings per share (EPS) for the quarter. The firm had revenue of $13.76 million during the quarter. First United had a return on equity of 7.39% and a net margin of 12.80%.
FUNC has been the subject of several research reports. ValuEngine cut First United from a “buy” rating to a “hold” rating in a research note on Friday, December 1st. TheStreet downgraded First United from a “b-” rating to a “c+” rating in a report on Tuesday, December 5th.
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First United Profile
First United Corporation is a bank holding company. The Company’s primary business is serving as the parent company of First United Bank & Trust (the Bank), First United Statutory Trust I, First United Statutory Trust II and First United Statutory Trust III. It operates through community banking segment.
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