First United (NASDAQ:FUNC) Issues Quarterly Earnings Results, Beats Estimates By $0.10 EPS

First United (NASDAQ:FUNC) announced its 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 business had revenue of $28.17 million during the quarter, compared to analysts’ expectations of $20.30 million.

First United Stock Performance

Shares of FUNC stock opened at $31.21 on Wednesday. The stock has a market cap of $207.52 million, a P/E ratio of 14.52 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.91. The company has a fifty day moving average price of $29.45 and a two-hundred day moving average price of $24.91. First United has a one year low of $15.68 and a one year high of $31.93.

First United Increases Dividend

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

Insider Buying and Selling at First United

In other 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 transaction of $55,040.00. Following the completion of the sale, the director now owns 37,000 shares in the company, valued at approximately $1,018,240. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders bought a total of 188 shares of company stock worth $5,254 over the last quarter. 7.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

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

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.