First United Corporation (FUNC) Fair Value & Analysis

Financial Services · US · Market cap $275M

A solid business, screening 11% undervalued on our models.

What matters now

• For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
• Our model range runs from $37.08 (bear) to $61.79 (bull), base $49.44. The closer the price sits to the lower half, the larger the margin of safety.
• Quality 56/100 (solid quality) with high evidence: the data supports the verdict.

Price vs Fair Value (5 years)

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 26, 2026.

How to read this chart

60‑month range $11.36 – $46.18 · fair‑value band $37.08 – $61.79 · the $44.74 price screens below the $49.44 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 26, 2026.

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Analysis

First United Corporation (FUNC) currently trades at $44.74, while our model-based Fair Value estimate is $49.44, implying the stock looks roughly 10.5% undervalued today. The Quality Score stands at 56/100 (solid quality), in the Financial Services sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, First United Corporation generated revenue of $88.2M at a net margin of 28.8%. Revenue grew 11.2% year over year. It earns a return on equity of 13.1%. The balance sheet holds a net cash position of $16.8M. Fundamentals as of Jul 26, 2026

Our scenario range runs from $37.08 (bear case) to $61.79 (bull case); at $44.74, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 64% above its 52-week low, currently above its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 42% fair-value upside, at 11%, FUNC screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Widest divergence: Multiples ($44.22) versus Dividend Discount ($8.54). Highest evidence: Residual Income (76).

Key figures & financial health

Quality Score breakdown

About the company

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 in the United States. It operates through Community Banking and Wealth Management segments.

Full 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 in the United States. It operates through Community Banking and Wealth Management segments. The company offers deposit products, such as checking, savings, money market, individual retirement (IRA), employee benefit, and health savings accounts; regular and IRA certificates of deposit (CD); and demand deposits. It also provides business and personal loans; commercial loans secured by real estate, commercial equipment, and vehicles or other assets of the borrower; residential mortgages; home equity lines of credit; real estate construction loans to builders and individuals for single-family dwellings; and consumer loans, including indirect and direct auto loans, student loans, and other secured and unsecured lines of credit and term loans. In addition, the company offers brokerage; certificate of deposit account registry and IntraFi cash services; treasury management, cash sweep, and various checking opportunities; trust services, such as personal trust, investment agency accounts, charitable trusts, estate administration, and estate planning, as well as retirement accounts, including IRA rollovers, 401(k) accounts, and defined benefit plans; safe deposit and night depository facilities; and insurance products. Further, it provides online, mobile, and digital banking; debit and credit cards; business support; merchant services; remote deposit capture; positive pay; sweep and escrow accounts; check recovery and ordering; equipment loans; floorplan lending; mobile wallet and deposit; credit insights; personal finance; bill pay; CD and trust secured loans; boat and RV loans; and retirement planning services. First United Corporation was founded in 1900 and is headquartered in Oakland, Maryland.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

First United Corporation reported revenue of $119M in FY2025 versus $78.6M in FY2021, a compound +11.0%/yr. Reported net income was $24.5M in FY2025, compounding +5.5%/yr from FY2021.

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Peer Group

Banks - Regional · 1083 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Valuation Multiples vs Banks - Regional median · lower = cheaper

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

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Frequently asked questions

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.