First United (NASDAQ:FUNC) Issues Earnings Results

First United (NASDAQ:FUNCGet Free Report) released its earnings results on Monday. The bank reported $0.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 during the quarter, compared to the consensus estimate of $20.30 million.

First United Stock Performance

NASDAQ:FUNC traded down $0.21 on Tuesday, reaching $31.32. 23,890 shares of the company’s stock were exchanged, compared to its average volume of 23,173. The stock has a fifty day simple moving average of $29.37 and a 200-day simple moving average of $24.85. First United has a 52 week low of $15.68 and a 52 week high of $31.93. 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 firm has a market cap of $208.25 million, a price-to-earnings ratio of 14.57 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. Investors of record on Friday, October 18th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, October 18th. This represents a $0.88 annualized dividend and a yield of 2.81%. This is a positive change from First United’s previous quarterly dividend of $0.20. First United’s dividend payout ratio (DPR) is 40.93%.

Wall Street Analysts Forecast Growth

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

Get Our Latest Report on FUNC

Insider Activity at First United

In related news, Director Irvin Robert Rudy sold 2,000 shares of First United stock in a transaction that occurred 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 completion of the transaction, the director now directly owns 37,000 shares in the company, valued at approximately $1,018,240. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last ninety days, insiders have acquired 188 shares of company stock worth $5,254. 7.80% of the stock is owned by corporate insiders.

About First United

(Get Free Report)

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.

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Earnings History for First United (NASDAQ:FUNC)

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