First United Co. Announces Quarterly Dividend of $0.22 (NASDAQ:FUNC)

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Friday, January 17th will be given a dividend of 0.22 per share by the bank on Monday, February 3rd. This represents a $0.88 annualized dividend and a yield of 2.55%. The ex-dividend date of this dividend is Friday, January 17th.

First United has increased its dividend payment by an average of 14.5% annually over the last three years. First United has a payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Analysts expect First United to earn $3.30 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 26.7%.

First United Stock Up 0.8 %

Shares of FUNC stock traded up $0.26 during trading hours on Thursday, hitting $34.46. 24,158 shares of the company’s stock traded hands, compared to its average volume of 22,783. The stock’s fifty day simple moving average is $31.33 and its two-hundred day simple moving average is $26.45. First United has a 12-month low of $18.01 and a 12-month high of $35.00. The stock has a market cap of $222.96 million, a price-to-earnings ratio of 14.01 and a beta of 0.78. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70.

First United (NASDAQ:FUNC) last released its quarterly earnings data on Monday, October 21st. The bank reported $0.89 EPS for the quarter, beating the consensus estimate of $0.79 by $0.10. The business had revenue of $28.17 million during the quarter, compared to the consensus estimate of $20.30 million. First United had a net margin of 14.70% and a return on equity of 12.20%. On average, analysts expect that First United will post 3.11 EPS for the current year.

Analyst Ratings Changes

Separately, StockNews.com upgraded shares of First United from a “hold” rating to a “buy” rating in a research report on Monday, October 7th.

First United Company Profile

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. It offers various deposit products, which includes checking, savings, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.