First United Corp. (FUNC)
NASDAQ:FUNC
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First United
(NASDAQ:FUNC)
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Rating:77Outperform
Price Target:
$44.00
â–²(19.66% Upside)
Action:Reiterated
Date:05/29/26
FUNC’s score is driven primarily by solid financial performance (strong revenue growth, improved leverage, and positive cash generation). Valuation is a notable support (low P/E with a dividend), while technicals are moderately positive with price above key moving averages. Corporate events add a smaller tailwind via governance continuity and dividend-related actions.
Positive Factors
Sustained multi-year revenue growth
Consistent, multi-year revenue growth indicates durable demand for First United’s banking products and an expanding franchise locally. This growth underpins recurring net interest and fee income, supports scale economies, and provides a stable base for reinvestment, dividends, and measured loan growth over the medium term.
Negative Factors
Margins normalized below peak levels
Normalization from elevated margin peaks means less structural upside from past cycles and suggests pressure on earnings if loan yields or funding conditions worsen. Sustainable profitability will depend on selective loan growth, expense discipline, and maintaining net interest margin amid competitive and rate-cycle dynamics.
Read all positive and negative factors
Positive Factors
Negative Factors
Sustained multi-year revenue growth
Consistent, multi-year revenue growth indicates durable demand for First United’s banking products and an expanding franchise locally. This growth underpins recurring net interest and fee income, supports scale economies, and provides a stable base for reinvestment, dividends, and measured loan growth over the medium term.
Read all positive factors
First United (FUNC) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$245.75M
Dividend Yield2.38%
Average Volume (3M)23.53K
Price to Earnings (P/E)10.1
Beta (1Y)0.84
Revenue Growth6.69%
EPS Growth11.73%
CountryUS
Employees291
SectorFinancial
Sector Strength70
IndustryBanks - Regional
Share Statistics
EPS (TTM)3.91
Shares Outstanding6,446,717
10 Day Avg. Volume39,325
30 Day Avg. Volume23,531
Financial Highlights & Ratios
PEG Ratio0.50
Price to Book (P/B)1.19
Price to Sales (P/S)2.04
P/FCF Ratio15.77
Enterprise Value/Market Cap0.88
Enterprise Value/Revenue1.78
Enterprise Value/Gross Profit2.51
Enterprise Value/Ebitda6.14
Forecast
1Y Price Target
$44.50Price Target Upside21.02% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)4.4
Revenue Forecast (FY)$95.96M
First United Business Overview & Revenue Model
Company Description
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 various deposit products, including checking...
How the Company Makes Money
FUNC makes money primarily through its banking subsidiary by earning interest income on loans and investment securities and paying interest on deposits and other funding sources; the difference is net interest income, which is typically the compan...
First United Financial Statement Overview
Summary
Income Statement
78
Positive
Balance Sheet
74
Positive
Cash Flow
71
Positive
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 121.46M | 119.18M | 111.80M | 95.61M | 80.44M | 78.61M |
| Gross Profit | 86.21M | 83.70M | 76.87M | 69.75M | 76.28M | 73.72M |
| EBITDA | 35.27M | 32.53M | 31.02M | 24.39M | 36.83M | 29.74M |
| Net Income | 25.37M | 24.52M | 20.57M | 15.06M | 25.05M | 19.77M |
Balance Sheet | ||||||
| Total Assets | 2.04B | 2.09B | 1.97B | 1.91B | 1.85B | 1.73B |
| Cash, Cash Equivalents and Short-Term Investments | 372.56M | 151.66M | 149.94M | 146.92M | 200.20M | 402.49M |
| Total Debt | 51.61M | 114.77M | 187.72M | 157.90M | 97.87M | 91.39M |
| Total Liabilities | 1.83B | 1.88B | 1.79B | 1.74B | 1.70B | 1.59B |
| Stockholders Equity | 205.26M | 203.63M | 179.29M | 161.87M | 151.79M | 141.90M |
Cash Flow | ||||||
| Free Cash Flow | 22.32M | 15.40M | 20.36M | 22.12M | 22.97M | 18.89M |
| Operating Cash Flow | 26.33M | 19.37M | 22.28M | 22.47M | 26.54M | 20.02M |
| Investing Cash Flow | -49.21M | -48.01M | -38.44M | -81.71M | -172.40M | -28.43M |
| Financing Cash Flow | 28.30M | 81.92M | 44.73M | 34.68M | 104.46M | -25.31M |
First United Technical Analysis
Positive
36.77
Price Trends
37.62
Positive
37.27
Positive
36.86
Positive
Market Momentum
0.46
Negative
62.25
Neutral
71.14
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For FUNC, the sentiment is Positive. The current price of 36.77 is below the 20-day moving average (MA) of 37.98, below the 50-day MA of 37.62, and below the 200-day MA of 36.86, indicating a bullish trend. The MACD of 0.46 indicates Negative momentum. The RSI at 62.25 is Neutral, neither overbought nor oversold. The STOCH value of 71.14 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for FUNC.
First United Risk Analysis
First United disclosed 39 risk factors in its most recent earnings report. First United reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
First United Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $245.75M | 10.15 | 12.70% | 2.38% | 6.69% | 11.73% | |
72 Outperform | $274.62M | 11.62 | 11.99% | 1.99% | 6.08% | -2.72% | |
69 Neutral | $281.83M | 12.35 | 9.25% | 0.87% | 4.74% | 24.29% | |
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
63 Neutral | $319.75M | 10.77 | 10.43% | 4.21% | 37.90% | 2989.42% | |
56 Neutral | $257.80M | 14.88 | 7.25% | 2.18% | 7.20% | 66.27% |
* Financial Sector Average
FUNC
First United
39.72
10.74
37.05%
NWFL
Norwood Financial
30.23
5.51
22.28%
OVLY
Oak Valley Bancorp [Ca]
33.66
7.51
28.72%
WNEB
Western New England Bancorp
13.20
4.09
44.86%
FVCB
FVCBankcorp
16.03
4.82
43.01%
FBLA
FB Bancorp, Inc.
13.95
2.90
26.24%
First United Corporate Events
Executive/Board ChangesShareholder Meetings
First United Elevates CEO Jason Rush to Chairman
Positive
May 28, 2026
On May 27, 2026, First United Corporation’s board appointed President and Chief Executive Officer Jason B. Rush as chairman, consolidating its top leadership roles under a veteran executive who has been with the organization since 1993. Rush...
Business Operations and StrategyExecutive/Board ChangesShareholder Meetings
First United Shareholders Back Board, Governance and Pay
Positive
May 11, 2026
At its annual meeting on May 7, 2026, First United Corporation’s shareholders elected 10 directors to serve on the board until the 2027 annual meeting, maintaining continuity in the company’s leadership. The meeting results underline b...
Business Operations and StrategyFinancial DisclosuresShareholder Meetings
First United Highlights Strategy and Strength at Annual Meeting
Positive
May 7, 2026
At its May 7, 2026 annual meeting of shareholders, First United Corporation highlighted its 125-year legacy of community banking, emphasizing relationship-based service, disciplined execution, and strategic investments in people, technology, and b...
Business Operations and StrategyDividendsFinancial Disclosures
First United Posts Strong First-Quarter 2026 Earnings Growth
Positive
Apr 21, 2026
On April 20, 2026, First United Corporation reported first-quarter 2026 GAAP net income of $6.7 million, or $1.03 per diluted share, up from $5.8 million, or $0.89 per share, a year earlier and in the prior quarter, while non-GAAP earnings were $6...
Dividends
First United Declares Second-Quarter 2026 Cash Dividend
Positive
Mar 6, 2026
On March 4, 2026, First United Corporation announced that its Board of Directors declared a second-quarter 2026 cash dividend of $0.26 per share. The dividend will be paid on May 1, 2026, to shareholders of record as of the close of business on Ap...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.