Vanguard Group Inc. reduced its stake in shares of First United Corporation (NASDAQ:FUNC) by 5.0% during the 2nd quarter, according to its most recent filing with the SEC. The firm owned 160,100 shares of the bank’s stock after selling 8,488 shares during the period. Vanguard Group Inc. owned approximately 2.27% of First United worth $2,393,000 at the end of the most recent quarter.
Separately, Northern Trust Corp grew its position in First United by 4.4% during the 2nd quarter. Northern Trust Corp now owns 72,536 shares of the bank’s stock worth $1,081,000 after purchasing an additional 3,050 shares during the period. 34.58% of the stock is currently owned by hedge funds and other institutional investors.
Separately, ValuEngine downgraded First United from a “buy” rating to a “hold” rating in a research report on Friday, December 1st.
First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, November 13th. The bank reported $0.25 earnings per share for the quarter. The company had revenue of $13.76 million for the quarter. First United had a return on equity of 7.39% and a net margin of 12.80%.
In other First United news, Director Irvin Robert Rudy sold 3,500 shares of the 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 sale, the director now directly owns 31,123 shares of the company’s stock, valued at approximately $542,162.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders have sold a total of 6,505 shares of company stock worth $112,808 over the last ninety days. 4.00% of the stock is owned by insiders.
First United Company 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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