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

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Thursday, April 17th will be paid a dividend of 0.22 per share by the bank on Thursday, May 1st. This represents a $0.88 dividend on an annualized basis and a yield of 2.62%.

First United has raised its dividend payment by an average of 11.9% per year over the last three years. First United has a payout ratio of 21.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect First United to earn $4.20 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 21.0%.

First United Trading Down 1.9 %

Shares of FUNC opened at $33.59 on Thursday. The business’s 50-day moving average price is $34.98 and its 200-day moving average price is $32.94. First United has a twelve month low of $19.17 and a twelve month high of $42.50. The stock has a market cap of $217.29 million, a PE ratio of 10.66 and a beta of 0.81. 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 announced its quarterly earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. On average, equities analysts forecast that First United will post 3.75 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. StockNews.com upgraded First United from a “hold” rating to a “buy” rating in a research report on Monday, February 24th. Raymond James raised First United from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a report on Friday, February 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.