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

First United Co. (NASDAQ:FUNC) declared a quarterly dividend on Wednesday, September 25th, Zacks reports. Shareholders of record on Friday, October 18th will be paid a dividend of 0.22 per share by the bank on Friday, November 1st. This represents a $0.88 annualized dividend and a yield of 2.78%. The ex-dividend date is Friday, October 18th. This is an increase from First United’s previous quarterly dividend of $0.20.

First United has raised its dividend by an average of 14.5% per year over the last three years. First United has a dividend payout ratio of 25.9% indicating that its dividend is sufficiently covered by earnings. Analysts expect First United to earn $3.40 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 25.9%.

First United Stock Up 1.9 %

FUNC stock opened at $31.70 on Thursday. First United has a one year low of $15.68 and a one year high of $31.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.91 and a current ratio of 0.91. The company has a fifty day moving average of $29.01 and a 200-day moving average of $24.60. The stock has a market capitalization of $210.77 million, a PE ratio of 14.74 and a beta of 0.79.

First United (NASDAQ:FUNC) last announced its quarterly earnings data on Monday, July 22nd. The bank reported $0.75 EPS for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. First United had a net margin of 13.84% and a return on equity of 11.78%. The firm had revenue of $27.95 million during the quarter, compared to the consensus estimate of $19.34 million. As a group, analysts expect that First United will post 2.98 EPS for the current year.

Analyst Ratings Changes

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

Insider Transactions at First United

In related news, Director Irvin Robert Rudy sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The shares were sold at an average price of $27.52, for a total value of $55,040.00. Following the completion of the sale, the director now owns 37,000 shares in the company, valued at $1,018,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Insiders have purchased a total of 188 shares of company stock valued at $5,254 in the last ninety days. 7.80% of the stock is currently owned by company insiders.

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.