First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. More Details
Flawless balance sheet and undervalued.
Share Price & News
How has First United's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: FUNC's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: FUNC underperformed the US Banks industry which returned -25.9% over the past year.
Return vs Market: FUNC underperformed the US Market which returned 14.2% over the past year.
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
5 days ago | Simply Wall StFirst United Corporation (NASDAQ:FUNC) Is An Attractive Dividend Stock - Here's Why
1 month ago | Simply Wall StTrade Alert: John McCullough At First United Corporation (NASDAQ:FUNC), Has Just Spent US$70k Buying 15% More Shares
2 months ago | Simply Wall StIs It Smart To Buy First United Corporation (NASDAQ:FUNC) Before It Goes Ex-Dividend?
Is First United undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: FUNC ($11.32) is trading below our estimate of fair value ($16.07)
Significantly Below Fair Value: FUNC is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: FUNC is good value based on its PE Ratio (6.8x) compared to the US Banks industry average (9.8x).
PE vs Market: FUNC is good value based on its PE Ratio (6.8x) compared to the US market (18.6x).
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate FUNC's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: FUNC is good value based on its PB Ratio (0.6x) compared to the US Banks industry average (0.8x).
How is First United forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?
Forecasted Banks industry annual growth in earnings
In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as First United has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.
This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.
How has First United performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: FUNC has high quality earnings.
Growing Profit Margin: FUNC's current net profit margins (19.9%) are higher than last year (18.6%).
Past Earnings Growth Analysis
Earnings Trend: FUNC's earnings have grown by 13.1% per year over the past 5 years.
Accelerating Growth: FUNC's earnings growth over the past year (7.2%) is below its 5-year average (13.1% per year).
Earnings vs Industry: FUNC earnings growth over the past year (7.2%) exceeded the Banks industry -3.1%.
Return on Equity
High ROE: FUNC's Return on Equity (9.4%) is considered low.
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
Financial Institutions Analysis
Asset Level: FUNC's Assets to Equity ratio (13.2x) is moderate.
Allowance for Bad Loans: FUNC has a sufficient allowance for bad loans (154%).
Low Risk Liabilities: 89% of FUNC's liabilities are made up of primarily low risk sources of funding.
Loan Level: FUNC has an appropriate level of Loans to Assets ratio (71%).
Low Risk Deposits: FUNC's Loans to Deposits ratio (86%) is appropriate.
Level of Bad Loans: FUNC has an appropriate level of bad loans (0.9%).
What is First United current dividend yield, its reliability and sustainability?
Current Dividend Yield
Dividend Yield vs Market
Notable Dividend: FUNC's dividend (4.59%) is higher than the bottom 25% of dividend payers in the US market (1.66%).
High Dividend: FUNC's dividend (4.59%) is low compared to the top 25% of dividend payers in the US market (4.65%).
Stability and Growth of Payments
Stable Dividend: FUNC's dividend payments have been volatile in the past 10 years.
Growing Dividend: FUNC's dividend payments have fallen over the past 10 years.
Current Payout to Shareholders
Dividend Coverage: With its reasonably low payout ratio (31.4%), FUNC's dividend payments are well covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Carissa Rodeheaver (54 yo)
Ms. Carissa L. Rodeheaver, C.P.A., has been the Chairman of the Board and Chief Executive Officer of First United Corporation and First United Bank & Trust since January 1, 2016 and their President since N ...
CEO Compensation Analysis
Compensation vs Market: Carissa's total compensation ($USD399.98K) is below average for companies of similar size in the US market ($USD594.44K).
Compensation vs Earnings: Carissa's compensation has been consistent with company performance over the past year.
|Senior VP & COO||3.67yrs||US$211.25k||0.16% |
|Senior VP & Chief Revenue Officer||no data||US$279.33k||0.045% |
|Senior VP||5.33yrs||no data||0.013% |
|Senior VP||8.83yrs||US$217.83k||0.095% |
Experienced Management: FUNC's management team is seasoned and experienced (5 years average tenure).
|Independent Director||28.33yrs||US$53.65k||0.52% |
|Lead Independent Director||6.33yrs||US$51.60k||no data|
|Independent Director||15.33yrs||US$54.70k||0.66% |
|Independent Director||16.33yrs||US$52.20k||0.29% |
|Independent Director||14.33yrs||US$53.65k||0.61% |
|Independent Director||6.33yrs||US$52.20k||0.28% |
|Independent Director||6.33yrs||US$54.90k||0.14% |
|Independent Director||6.33yrs||US$49.60k||0.26% |
|Director||0.17yr||no data||0.013% |
Experienced Board: FUNC's board of directors are considered experienced (6.3 years average tenure).
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: FUNC insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
First United Corporation's company bio, employee growth, exchange listings and data sources
- Name: First United Corporation
- Ticker: FUNC
- Exchange: NasdaqGS
- Founded: 1900
- Industry: Regional Banks
- Sector: Banks
- Market Cap: US$79.067m
- Shares outstanding: 6.98m
- Website: https://www.mybank.com
Number of Employees
- First United Corporation
- 19 South Second Street
- United States
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|FUNC||NasdaqGS (Nasdaq Global Select)||Yes||Common Shares||US||USD||Oct 1990|
First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. The company offers va ...
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/09/18 06:00|
|End of Day Share Price||2020/09/17 00:00|
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.