In a recent transaction, Brian R. Boal, a director at First United Corp (NASDAQ:FUNC), has increased his stake in the company through the purchase of additional shares. The transaction, which took place on May 2, 2024, involved the acquisition of 68.07 shares of common stock at a price of $22.83 per share, amounting to a total investment of over $1,500.
This purchase was made as part of a dividend reinvestment program offered through a brokerage account maintained by Boal. Following this transaction, Boal now holds a total of 17,175.273 shares in First United Corp.
First United Corp, with its headquarters located at 19 S. Second Street, Oakland, Maryland, operates within the national commercial banks sector. The company's actions, particularly those of its directors and significant shareholders, are closely watched by investors for indications of confidence in the bank's performance and prospects.
Investors often view the buying and selling activities of company insiders as a valuable indicator of the company's financial health and future performance. The recent purchase by Boal demonstrates a commitment to the company and may be interpreted as a positive sign by the market.
The details of the transaction were disclosed in a Form 4 filing with the Securities and Exchange Commission, as required by law for insider trades. The filing provides transparency and allows the public to see the trading activities of company insiders.
For investors monitoring insider activity, the purchase by Boal at First United Corp could be a point of interest when considering their investment strategies.
InvestingPro Insights
As investors analyze Brian R. Boal's recent share purchase in First United Corp (NASDAQ:FUNC), it's essential to consider the company's financial metrics and performance indicators. According to real-time data from InvestingPro, First United Corp boasts a market capitalization of $150.33 million, reflecting its size and market value within the banking sector.
One notable InvestingPro Tip for First United Corp is its track record of consistently raising dividends, with an increase for six consecutive years. This could signal the company's financial stability and commitment to returning value to shareholders. In line with this, the company's current dividend yield stands at 3.53%, which is compelling for income-focused investors.
Another InvestingPro Tip highlights the company's profitability over the last twelve months, with a P/E ratio of 10.47. This metric suggests that investors have been willing to pay about $10.47 for every dollar of earnings, which can be an indicator of the company's perceived value and potential for growth. Additionally, First United Corp has experienced a significant price uptick of 35.11% over the last six months, an optimistic sign for investors looking at the company's share price momentum.
For those interested in diving deeper into First United Corp's financials and future prospects, InvestingPro offers additional tips and metrics. To explore these insights further and to help refine your investment strategies, consider using the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription at InvestingPro.
Lastly, it's worth noting that First United Corp is predicted by analysts to be profitable this year, which could be a contributing factor to the recent insider buying activity. Investors can find more details on these predictions and other valuable metrics on the InvestingPro platform, which lists a total of 6 additional tips for First United Corp.
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