First United Corp director Boal acquires shares worth $1.9k

In a recent transaction on August 2, 2024, Brian R. Boal, a director at First United Corp (NASDAQ:FUNC), acquired 68.073 shares of the company’s common stock at a price of $27.97 per share, amounting to a total investment of approximately $1,904. This purchase was made as part of a dividend reinvestment program.

First United Corp, headquartered in Oakland, Maryland, operates in the national commercial banking industry and is known for its community banking services. The acquisition of shares by a director often signals confidence in the company’s future prospects and financial health.

The shares were purchased through a dividend reinvestment plan, which allows shareholders to use their cash dividends to purchase additional shares of the company’s stock. This method of investment is a common way for company insiders to increase their holdings in a cost-effective manner.

Following this transaction, Boal’s ownership in First United Corp has increased, reflecting a positive stance towards the bank’s ongoing performance and growth. Investors typically keep a close eye on insider transactions, as they can provide insights into the company’s internal perspective and potential future direction.

Boal’s transaction was officially filed with the Securities and Exchange Commission on August 5, 2024, and the details of the purchase are now publicly available. It is worth noting that such filings are standard procedure for transactions by company insiders and provide transparency for investors and the broader market.

InvestingPro Insights

As investors digest the news of Director Brian R. Boal’s recent share acquisition in First United Corp, several metrics from InvestingPro provide a broader financial context for the company’s current market position. With a market capitalization of $172.76 million and a P/E ratio standing at 11.94, First United Corp presents an interesting case for value-oriented investors. The company’s commitment to shareholder returns is evident, with a dividend yield of 2.91% as of mid-July 2024, and a history of raising its dividend for 6 consecutive years. This consistent increase in dividends could be a sign of the company’s stable cash flow and management’s confidence in the future.

InvestingPro data also shows a robust one-year price total return of 70.31%, indicating that the stock has performed well over the past year. This aligns with one of the InvestingPro Tips highlighting the company’s high return over the last year, which could be a testament to First United Corp’s resilience and strategic initiatives in the competitive banking sector. Additionally, the recent one-month price total return of 35.35% underscores a strong short-term performance, potentially reflecting market optimism about the company’s prospects.

For those interested in further analysis and tips, there are additional InvestingPro Tips available that delve into various aspects of First United Corp’s financial health and market performance. These tips can provide investors with a more nuanced understanding of the company’s position and potential investment opportunities.

With a focus on insightful data and actionable tips, InvestingPro offers a comprehensive suite of tools and analysis for investors looking to make informed decisions. For more detailed tips and metrics on First United Corp, visit https://www.investing.com/pro/FUNC.

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