First United Co. Declares Quarterly Dividend of $0.20 (NASDAQ:FUNC)

First United Co. (NASDAQ:FUNC) declared a quarterly dividend on Thursday, June 20th, Zacks reports. Investors of record on Thursday, July 18th will be given a dividend of 0.20 per share by the bank on Thursday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.45%. The ex-dividend date of this dividend is Thursday, July 18th.

First United has raised its dividend payment by an average of 14.5% per year over the last three years. First United has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First United to earn $3.15 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.4%.

First United Trading Up 3.4 %

FUNC opened at $23.20 on Wednesday. First United has a 52 week low of $15.01 and a 52 week high of $24.28. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.43. The business has a fifty day simple moving average of $20.78 and a 200-day simple moving average of $21.81. The firm has a market cap of $154.28 million, a P/E ratio of 10.79 and a beta of 0.79.

First United (NASDAQ:FUNC) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.62 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.56 by $0.06. The firm had revenue of $18.61 million for the quarter, compared to analyst estimates of $18.75 million. First United had a return on equity of 11.64% and a net margin of 13.82%. On average, equities analysts expect that First United will post 2.75 earnings per share for the current year.

Wall Street Analyst Weigh In

Separately, StockNews.com upgraded shares of First United from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th.

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.