First United (NASDAQ:FUNC) Posts Quarterly Earnings Results, Beats Expectations By $0.09 EPS

First United (NASDAQ:FUNC) released its quarterly earnings results on Wednesday. The bank reported $0.95 EPS for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09, Zacks reports. First United had a net margin of 14.70% and a return on equity of 12.20%.

First United Trading Up 1.9 %

Shares of FUNC traded up $0.64 during trading hours on Wednesday, reaching $33.51. 42,862 shares of the company traded hands, compared to its average volume of 32,242. The firm has a market cap of $216.81 million, a price-to-earnings ratio of 13.62 and a beta of 0.81. First United has a 12-month low of $19.17 and a 12-month high of $36.49. The stock’s fifty day moving average price is $33.85 and its 200 day moving average price is $31.40. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70.

First United Dividend Announcement

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

Analysts Set New Price Targets

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

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.