First United Corporation

NasdaqGS:FUNC Stock Report

Market Cap: US$229.6m

First United Valuation

Is FUNC undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of FUNC when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FUNC ($35.53) is trading below our estimate of fair value ($63.9)

Significantly Below Fair Value: FUNC is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FUNC?

Key metric: As FUNC is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for FUNC. This is calculated by dividing FUNC's market cap by their current earnings.
What is FUNC's PE Ratio?
PE Ratio14.2x
EarningsUS$16.14m
Market CapUS$229.57m

Price to Earnings Ratio vs Peers

How does FUNC's PE Ratio compare to its peers?

The above table shows the PE ratio for FUNC vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.6x
VABK Virginia National Bankshares
14.4xn/aUS$228.3m
BCBP BCB Bancorp
11.5x18.1%US$231.0m
LCNB LCNB
34.6x50.9%US$248.8m
FINW FinWise Bancorp
18.1x11.4%US$238.5m
FUNC First United
14.2x15.1%US$229.6m

Price-To-Earnings vs Peers: FUNC is good value based on its Price-To-Earnings Ratio (14.2x) compared to the peer average (19.6x).

Price to Earnings Ratio vs Industry

How does FUNC's PE Ratio compare vs other companies in the US Banks Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
FRCB First Republic Bank
0.02xn/aUS$27.98m
BKGM BankGuam Holding
1xn/aUS$18.48m
SBNY Signature Bank
0.002xn/aUS$2.18m
BCBH.F Caribbean Investment Holdings
0.00001xn/aUS$132.00
No more companies available in this PE range
FUNC 14.2xIndustry Avg. 13.3xNo. of Companies94PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: FUNC is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the US Banks industry average (13.3x).

Price to Earnings Ratio vs Fair Ratio

What is FUNC's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FUNC PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio14.2x
Fair PE Ratio13x

Price-To-Earnings vs Fair Ratio: FUNC is expensive based on its Price-To-Earnings Ratio (14.2x) compared to the estimated Fair Price-To-Earnings Ratio (13x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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