First United (NASDAQ:FUNC) Posts Quarterly Earnings Results

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

First United Trading Down 0.2 %

Shares of NASDAQ FUNC traded down $0.05 during mid-day trading on Wednesday, hitting $31.16. The stock had a trading volume of 18,357 shares, compared to its average volume of 23,087. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.91 and a current ratio of 0.91. First United has a 1 year low of $15.68 and a 1 year high of $31.93. The business has a 50 day moving average price of $29.45 and a two-hundred day moving average price of $24.91. The firm has a market cap of $207.15 million, a P/E ratio of 14.47 and a beta of 0.79.

First United Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Investors of record on Friday, October 18th will be paid a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.82%. This is an increase from First United’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend is Friday, October 18th. First United’s payout ratio is presently 40.93%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction on Thursday, July 25th. The shares were sold at an average price of $27.52, for a total value of $55,040.00. Following the transaction, the director now directly owns 37,000 shares of the company’s stock, valued at $1,018,240. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders have bought a total of 188 shares of company stock valued at $5,254 over the last three months. 7.80% of the stock is owned by company insiders.

About First United

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.