Fri. Feb 21st, 2020

Stock in News Spotlight: First United Corporation (NASDAQ:FUNC)

First United Corporation (NASDAQ:FUNC) stock experienced trading -4.32% off 52-week high price. On the other end, the stock has been noted 44.56% away from low price over the last 52-weeks. The stock disclosed a move of -0.76% away from 50 day moving average and 9.91% away from 200 day moving average. Moving closer, we can see that shares have been trading -0.53% off 20-day moving average. It has market cap of $170.48M and dividend yield of 2.17%.

On Feb.11, 2020, First United Corporation (NASDAQ:FUNC) a bank holding company and the parent company of First United Bank & Trust (the Company or First United), released that its Board of Directors (the Board) has concluded its most recent strategic review, the third in the past eight months. All of the reviews were conducted by independent third-party financial advisors at the Board’s request, and the findings were reviewed by all Board members upon completion of each review, taking into account shareholder feedback and in consultation with the Board’s advisors.

The Board’s Annually Engaged Independent Financial Advisor Conducted the First of Three Recent Strategic Reviews

Since 2013, the Board has annually engaged FinPro Capital Advisors (the FinPro) to review the Company’s current strategy relative to various alternatives that may improve long-term shareholder value.  FinPro typically conducts a strategic review over the summer, after the annual meeting of shareholders, as part of the Company’s ongoing strategic planning process.

FinPro conducted its most recent strategic review in July 2019 (the First Strategic Review). This review included an analysis of the Company’s current strategy versus various strategic alternatives available to the Company, including a potential sale.  In accordance with its fiduciary duties and with the help of its independent advisors, the Board thoroughly considered the results of the First Strategic Review, as well as shareholder input, and unanimously determined that continuing to execute on the Company’s current strategy of remaining independent was in the shareholders’ best interest.

 The USA based company First United Corporation moved with change of -0.04% to $23.91 with the total traded volume of 6757 shares in recent session versus to an average volume of 20.29K. The stock was observed in the 5 days activity at -0.13%. The one month performance of stock was -1.20%. FUNC’s shares are at 1.61% for the quarter and driving a 42.07% return over the course of the past year and is now at -0.75% since this point in 2018.  Right now the stock beta is 0.74. The average volatility for the week and month was at 0.92% and 1.05% respectively. There are 7.13M shares outstanding and 6.42M shares are floated in market.

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