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

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Thursday, November 21st,Wall Street Journal reports. Shareholders of record on Friday, January 17th will be given a dividend of 0.22 per share by the bank on Monday, February 3rd. This represents a $0.88 annualized dividend and a dividend yield of 2.56%. The ex-dividend date of this dividend is Friday, January 17th.

First United has raised its dividend payment by an average of 14.5% annually over the last three years. First United has a dividend payout ratio of 26.7% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First United to earn $3.30 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 26.7%.

First United Trading Up 0.6 %

NASDAQ FUNC opened at $34.41 on Friday. First United has a 52 week low of $18.01 and a 52 week high of $35.00. The company has a 50 day moving average price of $31.33 and a 200 day moving average price of $26.45. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. The firm has a market cap of $222.60 million, a PE ratio of 13.99 and a beta of 0.78.

First United (NASDAQ:FUNC) last released its quarterly earnings results on Monday, October 21st. The bank reported $0.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.79 by $0.10. First United had a net margin of 14.70% and a return on equity of 12.20%. The business had revenue of $28.17 million for the quarter, compared to analyst estimates of $20.30 million. As a group, sell-side analysts forecast that First United will post 3.11 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Separately, StockNews.com raised 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.