First United Co. Announces Quarterly Dividend of $0.20 (NASDAQ:FUNC)

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Thursday, June 20th, Zacks reports. Investors of record on Thursday, July 18th will be paid a dividend of 0.20 per share by the bank on Thursday, August 1st. This represents a $0.80 dividend on an annualized basis and a dividend yield of 4.11%. The ex-dividend date of this dividend is Thursday, July 18th.

First United has increased its dividend payment by an average of 14.5% annually over the last three years. First United has a payout ratio of 25.4% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First United to earn $3.15 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 25.4%.

First United Stock Performance

Shares of First United stock opened at $19.48 on Friday. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $129.54 million, a P/E ratio of 9.06 and a beta of 0.80. The firm has a 50 day simple moving average of $21.39 and a 200 day simple moving average of $21.99. First United has a fifty-two week low of $13.36 and a fifty-two week high of $24.28.

First United (NASDAQ:FUNC) last issued its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.62 earnings per share for the quarter, beating analysts’ consensus estimates of $0.56 by $0.06. The business had revenue of $18.61 million during the quarter, compared to analyst estimates of $18.75 million. First United had a net margin of 13.82% and a return on equity of 11.64%. Sell-side analysts predict that First United will post 2.75 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com raised shares of First United from a “hold” rating to a “buy” rating in a report on Tuesday, June 4th.

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.