First United (NASDAQ:FUNC) Announces Earnings Results

First United (NASDAQ:FUNC) announced its earnings results on Wednesday. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09, Zacks reports. First United had a return on equity of 12.20% and a net margin of 14.70%.

First United Stock Up 1.9 %

NASDAQ FUNC traded up $0.64 during trading on Wednesday, hitting $33.51. The company’s stock had a trading volume of 42,862 shares, compared to its average volume of 32,242. First United has a fifty-two week low of $19.17 and a fifty-two week high of $36.49. The company has a market cap of $216.81 million, a PE ratio of 13.62 and a beta of 0.81. The company has a debt-to-equity ratio of 0.70, a current ratio of 0.94 and a quick ratio of 0.94. The business’s 50 day simple moving average is $33.85 and its 200-day simple moving average is $31.40.

First United Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, February 3rd. Shareholders of record on Friday, January 17th were paid a $0.22 dividend. This represents a $0.88 dividend on an annualized basis and a yield of 2.63%. The ex-dividend date of this dividend was Friday, January 17th. First United’s dividend payout ratio (DPR) is presently 35.77%.

Analysts Set New Price Targets

Separately, StockNews.com lowered First United from a “buy” rating to a “hold” rating in a research note on Friday, January 31st.

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.