First United (NASDAQ:FUNC) Posts Earnings Results

First United (NASDAQ:FUNC) released its quarterly earnings results on Monday. The bank reported $0.89 EPS for the quarter, beating analysts’ consensus estimates of $0.79 by $0.10, Yahoo Finance reports. First United had a return on equity of 11.78% and a net margin of 13.84%. The firm had revenue of $28.17 million for the quarter, compared to analyst estimates of $20.30 million.

First United Stock Performance

NASDAQ FUNC traded up $0.11 on Tuesday, hitting $31.43. 425 shares of the stock traded hands, compared to its average volume of 23,061. First United has a 12 month low of $15.68 and a 12 month high of $31.93. The business’s fifty day moving average is $29.37 and its two-hundred day moving average is $24.85. 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 firm has a market capitalization of $208.98 million, a price-to-earnings ratio of 14.62 and a beta of 0.79.

First United Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.22 per share. This represents a $0.88 annualized dividend and a yield of 2.80%. This is a positive change from First United’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, October 18th. First United’s dividend payout ratio is 40.93%.

Insider Activity at First United

In other news, Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $27.52, for a total value of $55,040.00. Following the transaction, the director now owns 37,000 shares in the company, valued at approximately $1,018,240. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Over the last quarter, insiders acquired 188 shares of company stock valued at $5,254. Company insiders own 7.80% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com upgraded 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.