First United Corp director sells $55k in company stock

In a recent transaction on July 25th, Irvin Robert Rudy, a director at First United Corp (NASDAQ:FUNC), sold 2,000 shares of the company’s common stock at an average price of $27.52 per share, totaling approximately $55,037. Following the sale, Rudy’s direct holdings in the company amounted to 37,000 shares.

Investors tracking insider transactions may note that this sale represents a recent shift in Rudy’s stake in the Maryland-based national commercial bank. The transaction details, publicly filed on July 26th, indicate that the shares were sold outright, reducing Rudy’s direct ownership but still leaving him with a substantial position in the company.

In addition to the direct holdings, Rudy has indirect ownership of 1,500 shares through the I.R. Rudy Business Trust, showcasing a diversified approach to his investment in First United Corp. The sale was executed at a single price point, simplifying the transaction’s assessment for market observers.

The reported transactions provide current and potential investors with insight into the actions of company insiders, which can be a valuable piece of information when making investment decisions. While the reasons behind Rudy’s sale are not disclosed in the filing, such transactions are routinely monitored by the market as they may reflect the insiders’ perspective on the company’s current valuation and future prospects.

First United Corp has not issued any statements regarding the transaction, and it remains an individual financial decision by the director. Shareholders and potential investors in First United Corp continue to monitor such insider activity for indications of the company’s internal confidence and direction.

InvestingPro Insights

As investors evaluate the recent insider sale by Irvin Robert Rudy at First United Corp (NASDAQ:FUNC), it’s worth considering the broader financial context of the company. According to InvestingPro data, First United Corp boasts a market capitalization of approximately $178.71 million USD, reflecting its position in the market. The company has a P/E ratio of 12.34, which may attract value-focused investors looking for potentially undervalued stocks.

Adding to the company’s investment appeal, First United Corp has demonstrated a consistent commitment to returning value to its shareholders. An InvestingPro Tip highlights that the company has raised its dividend for 6 consecutive years, signifying financial stability and a shareholder-friendly policy. This is complemented by a dividend yield of 2.89%, which is an attractive figure for income-seeking investors, especially considering the ex-date of the last dividend was on July 18, 2024.

While the revenue growth over the last twelve months as of Q2 2024 has seen a slight decline of 9.67%, the company’s stock has experienced a significant return over the last week, with a 15.29% price total return. This short-term performance, coupled with a strong return of 65.9% over the last year, underscores the stock’s robust growth trajectory, an aspect that might interest growth-oriented investors. Furthermore, the stock is trading near its 52-week high, at 98.75% of this peak, which could indicate strong market confidence in the company’s prospects.

For investors seeking additional insights and metrics on First United Corp, InvestingPro offers numerous other tips to aid in a comprehensive analysis. Make sure to use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription, providing access to these valuable resources. Currently, there are 11 more InvestingPro Tips available that could further inform your investment decisions regarding First United Corp.

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