Insider Buying: First United Corp (FUNC) Director Purchases 1,500 Shares of Stock

First United Corp (NASDAQ:FUNC) Director Irvin Robert Rudy purchased 1,500 shares of the stock in a transaction on Wednesday, December 12th. The shares were acquired at an average cost of $17.60 per share, for a total transaction of $26,400.00. Following the transaction, the director now owns 29,008 shares of the company’s stock, valued at $510,540.80. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.

Shares of NASDAQ:FUNC traded down $0.48 during trading on Friday, reaching $16.52. 8,830 shares of the stock were exchanged, compared to its average volume of 10,848. First United Corp has a 12 month low of $16.60 and a 12 month high of $24.32. The stock has a market cap of $117.04 million, a PE ratio of 11.24 and a beta of 0.55. The company has a quick ratio of 0.89, a current ratio of 0.89 and a debt-to-equity ratio of 0.87.

First United (NASDAQ:FUNC) last issued its quarterly earnings data on Wednesday, November 7th. The bank reported $0.39 earnings per share (EPS) for the quarter. First United had a return on equity of 9.33% and a net margin of 11.12%. The company had revenue of $15.05 million during the quarter.

Several large investors have recently modified their holdings of FUNC. BlackRock Inc. boosted its holdings in shares of First United by 901.6% during the second quarter. BlackRock Inc. now owns 342,032 shares of the bank’s stock worth $6,994,000 after acquiring an additional 307,885 shares during the period. Northern Trust Corp boosted its holdings in shares of First United by 76.5% during the second quarter. Northern Trust Corp now owns 127,884 shares of the bank’s stock worth $2,615,000 after acquiring an additional 55,415 shares during the period. M3F Inc. boosted its holdings in shares of First United by 12.4% during the third quarter. M3F Inc. now owns 145,661 shares of the bank’s stock worth $2,738,000 after acquiring an additional 16,017 shares during the period. Bank of New York Mellon Corp boosted its holdings in shares of First United by 129.9% during the second quarter. Bank of New York Mellon Corp now owns 27,373 shares of the bank’s stock worth $560,000 after acquiring an additional 15,464 shares during the period. Finally, Schwab Charles Investment Management Inc. bought a new stake in shares of First United during the second quarter worth approximately $313,000. Institutional investors own 34.50% of the company’s stock.

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First United Company Profile

First United Corporation operates as the holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. The company offers various deposit products, including checking accounts, savings and money market accounts, regular and individual retirement accounts (IRA) certificates of deposit, Christmas savings accounts, college savings accounts, and health savings accounts; Certificate of Deposit Account Registry Service program and Insured Cash Sweep program to municipalities, businesses, and consumers; and commercial customers packages, which include treasury management, cash sweep, and various checking opportunities.

Further Reading: Dividend

Insider Buying and Selling by Quarter for First United (NASDAQ:FUNC)

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