NasdaqGS:FUNC

Stock Analysis Report

Executive Summary

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.

Snowflake

Fundamentals

Excellent balance sheet with acceptable track record.

Risks

  • First United is not covered by any analysts.

Similar Companies

Share Price & News

How has First United's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

-4.7%

NasdaqGS:FUNC

3.3%

US Banks

2.1%

US Market


1 Year Return

-1.9%

NasdaqGS:FUNC

-13.8%

US Banks

-0.04%

US Market

FUNC outperformed the Banks industry which returned -13.8% over the past year.

FUNC underperformed the Market in United States of America which returned -0% over the past year.


Share holder returns

FUNCIndustryMarket
7 Day-4.7%3.3%2.1%
30 Day0.9%-7.0%-3.2%
90 Day10.7%-2.3%2.8%
1 Year0.04%-1.9%-11.3%-13.8%2.2%-0.04%
3 Year98.1%92.4%42.5%32.7%41.5%32.3%
5 Year146.1%139.1%54.2%37.6%55.0%37.8%

Price Volatility Vs. Market

How volatile is First United's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First United undervalued based on future cash flows and its price relative to the stock market?

13.08x

Price to Earnings (PE) ratio


Intrinsic Value Based on Future Cash Flows

First United's share price is above the future cash flow value, it's not available at a moderate discount (< 20%).

First United's share price is above the future cash flow value, it's not available at a substantial discount (< 40%).


Price Based on Earnings

First United is overvalued based on earnings compared to the US Banks industry average.

First United is good value based on earnings compared to the United States of America market.


Price Based on Expected Growth

Unable to calculate PEG ratio for First United, we can't assess if its growth is good value.


Price Based on Value of Assets

First United is good value based on assets compared to the US Banks industry average.


Next Steps

Future Growth

How is First United expected to perform in the next 1 to 3 years based on estimates from 0 analysts?

7.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Estimates


Future Annual Growth Analysis

Unable to determine if First United is high growth as no revenue estimate data is available.

First United's earnings are expected to grow by 7.9% yearly, however this is not considered high growth (20% yearly).

Unable to compare First United's revenue growth to the United States of America market average as no estimate data is available.

First United's earnings growth is positive but not above the United States of America market average.

First United's earnings growth is expected to exceed the low risk savings rate of 2.7%.


Earnings per Share Growth Estimates


Future Return on Equity

Unable to establish if First United will efficiently use shareholders’ funds in the future without estimates of Return on Equity.


Next Steps

Past Performance

How has First United performed over the past 5 years?

17.1%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

First United's year on year earnings growth rate has been positive over the past 5 years.

First United's 1-year earnings growth exceeds its 5-year average (80.1% vs 17.1%)

First United's earnings growth has exceeded the US Banks industry average in the past year (80.1% vs 33.1%).


Return on Equity

First United has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).


Return on Assets

First United used its assets less efficiently than the US Banks industry average last year based on Return on Assets.


Return on Capital Employed

Unable to establish if First United improved its use of capital last year versus 3 years ago (Return on Capital Employed) due to insufficient past data.


Next Steps

Financial Health

How is First United's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Information is not available.

Information is not available.


Financial Institutions Analysis

First United has an acceptable proportion of non-loan assets held.

First United has a low allowance for bad loans.

First United's liabilities are made up of primarily low risk sources of funding.

First United's level of assets compared to its equity is moderate (i.e. an appropriate level of borrowing to fund lending).

Loans at First United are broadly funded by customer deposits.

First United has an acceptable level of bad loans (less than 2%).


Next Steps

Dividend

What is First United's current dividend yield, its reliability and sustainability?

1.79%

Current Dividend Yield


Dividend Yield and Payments Analysis

First United's pays a higher dividend yield than the bottom 25% of dividend payers in United States of America (1.49%).

First United's dividend is below the markets top 25% of dividend payers in United States of America (3.82%).

Dividends per share have been volatile in the past 10 years (annual drop of over 20%).

Dividends per share have fallen over the past 10 years.


Current Payout to Shareholders

Dividends paid are well covered by earnings (4.3x coverage).


Future Payout to Shareholders

Insufficient estimate data to determine if a dividend will be paid in 3 years and that it will be sustainable.


Next Steps

Management

What is the CEO of First United's salary, the management and board of directors tenure and is there insider trading?

4.3yrs

Average management tenure


CEO

Carissa Rodeheaver (53yo)

3.6yrs

Tenure

US$393,505

Compensation

Mrs. Carissa L. Rodeheaver, C.P.A., serves as the Chairman of the Board, President and Chief Executive Officer of First United Corporation and First United Bank & Trust. She has served as President since N ...


CEO Compensation Analysis

Carissa's remuneration is about average for companies of similar size in United States of America.

Carissa's compensation has been consistent with company performance over the past year, both up more than 20%.


Management Age and Tenure

4.3yrs

Average Tenure

51yo

Average Age

The tenure for the First United management team is about average.


Board Age and Tenure

14.9yrs

Average Tenure

68.5yo

Average Age

The average tenure for the First United board of directors is over 10 years, this suggests they are a seasoned and experienced board.


Insider Trading

More shares have been bought than sold by First United individual insiders in the past 3 months.


Recent Insider Transactions

BuyUS$1,48205 Aug 19
Marisa Shockley
EntityIndividual
Shares69.46
Max PriceUS$21.33
BuyUS$3,20205 Aug 19
Jason Rush
EntityIndividual
Role
Chief Operating Officer
Senior VP & COO
Shares171.68
Max PriceUS$21.88
BuyUS$19505 Aug 19
Irvin Rudy
EntityIndividual
Role
Member of the Board of Directors
Director
Shares8.9
Max PriceUS$21.88
BuyUS$11905 Aug 19
Gary Ruddell
EntityIndividual
Role
Member of the Board of Directors
Director
Shares5.44
Max PriceUS$21.88
BuyUS$51605 Aug 19
Carissa Rodeheaver
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares23.59
Max PriceUS$21.88
BuyUS$3,16805 Aug 19
John McCullough
EntityIndividual
Shares147.71
Max PriceUS$21.45
BuyUS$101,52619 Jul 19
Carissa Rodeheaver
EntityIndividual
Role
Chief Executive Officer
Chairman
Shares5,085.72
Max PriceUS$20.05
SellUS$9,00003 Jun 19
Robert Kurtz
EntityIndividual
Role
Member of the Board of Directors
Director
Shares500
Max PriceUS$18.00
BuyUS$57428 May 19
Irvin Rudy
EntityIndividual
Role
Member of the Board of Directors
Director
Shares32.35
Max PriceUS$18.80
BuyUS$58428 May 19
Gary Ruddell
EntityIndividual
Role
Member of the Board of Directors
Director
Shares31.91
Max PriceUS$19.40
BuyUS$628 May 19
Robert Kurtz
EntityIndividual
Role
Member of the Board of Directors
Director
Shares0.33
Max PriceUS$19.40
BuyUS$3,01503 May 19
John McCullough
EntityIndividual
Shares159.69
Max PriceUS$18.88
BuyUS$1,33602 May 19
Marisa Shockley
EntityIndividual
Shares70.35
Max PriceUS$18.99
BuyUS$1,32906 Feb 19
Marisa Shockley
EntityIndividual
Shares81.47
Max PriceUS$16.31
BuyUS$1,32206 Feb 19
Marisa Shockley
EntityIndividual
Shares73.86
Max PriceUS$17.90
BuyUS$2,99906 Feb 19
John McCullough
EntityIndividual
Shares181.52
Max PriceUS$16.52
BuyUS$6,38814 Dec 18
Elaine McDonald
EntityIndividual
Role
Member of the Board of Directors
Director
Shares365
Max PriceUS$17.50
BuyUS$26,40013 Dec 18
Irvin Rudy
EntityIndividual
Role
Member of the Board of Directors
Director
Shares1,500
Max PriceUS$17.60
BuyUS$2,98406 Nov 18
John McCullough
EntityIndividual
Shares162.36
Max PriceUS$18.38

Ownership Breakdown


Management Team

  • Carissa Rodeheaver (53yo)

    Chairman

    • Tenure: 3.6yrs
    • Compensation: US$393.51k
  • Jason Rush (48yo)

    Senior VP & COO

    • Tenure: 2.6yrs
    • Compensation: US$208.36k
  • Keith Sanders (49yo)

    Senior VP & Senior Trust Officer

    • Tenure: 7.8yrs
    • Compensation: US$217.83k
  • Robert Fisher (50yo)

    Senior VP & Chief Revenue Officer

    • Tenure: 0.0yrs
    • Compensation: US$277.15k
  • Beverly Sines (60yo)

    Senior VP & Chief Credit Officer

    • Tenure: 5.3yrs
  • Tonya Sturm (52yo)

    Senior VP

    • Tenure: 4.3yrs

Board Members

  • Robert Kurtz (72yo)

    Director

    • Tenure: 29.3yrs
    • Compensation: US$57.63k
  • Robert Stuck (72yo)

    Director

    • Tenure: 24.3yrs
    • Compensation: US$54.63k
  • Irvin Rudy (66yo)

    Director

    • Tenure: 27.3yrs
    • Compensation: US$57.13k
  • Elaine McDonald (70yo)

    Director

    • Tenure: 24.3yrs
    • Compensation: US$54.63k
  • John McCullough (69yo)

    Lead Director

    • Tenure: 0.0yrs
    • Compensation: US$59.13k
  • M. Burkey (68yo)

    Director

    • Tenure: 14.1yrs
    • Compensation: US$57.63k
  • Gary Ruddell (71yo)

    Director

    • Tenure: 14.9yrs
    • Compensation: US$57.13k
  • Carissa Rodeheaver (53yo)

    Chairman

    • Tenure: 3.6yrs
    • Compensation: US$393.51k
  • Andy Walls (58yo)

    Director

    • Tenure: 12.8yrs
    • Compensation: US$57.63k
  • Brian Boal (46yo)

    Director

    • Tenure: 5.3yrs
    • Compensation: US$57.13k

Company Information

First United Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First United Corporation
  • Ticker: FUNC
  • Exchange: NasdaqGS
  • Founded: 1900
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$142.897m
  • Shares outstanding: 7.11m
  • Website: https://www.mybank.com

Number of Employees


Location

  • First United Corporation
  • 19 South Second Street
  • Oakland
  • Maryland
  • 21550
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
FUNCNasdaqGS (Nasdaq Global Select)YesCommon SharesUSUSDOct 1990

Biography

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 ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/08/23 23:36
End of Day Share Price2019/08/23 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.