First United Co. (NASDAQ:FUNC – Get Free Report) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, October 18th will be paid a dividend of 0.22 per share by the bank on Friday, November 1st. This represents a $0.88 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, October 18th. This is a positive change from First United’s previous quarterly dividend of $0.20.
First United has raised its dividend payment by an average of 14.5% per year over the last three years. First United has a dividend payout ratio of 22.9% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First United to earn $3.50 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 22.9%.
First United Stock Performance
Shares of FUNC opened at $29.76 on Friday. The company has a market capitalization of $197.87 million, a price-to-earnings ratio of 13.84 and a beta of 0.79. First United has a 52-week low of $15.68 and a 52-week high of $30.93. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.43. The stock has a 50 day moving average price of $28.20 and a 200 day moving average price of $23.88.
Insider Buying and Selling
In other news, Director Irvin Robert Rudy sold 2,000 shares of the firm’s stock in a transaction that occurred on Thursday, July 25th. The shares were sold at an average price of $27.52, for a total transaction of $55,040.00. Following the transaction, the director now directly owns 37,000 shares in the company, valued at $1,018,240. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders have bought 188 shares of company stock worth $5,254 in the last quarter. 7.80% of the stock is owned by insiders.
Analyst Upgrades and Downgrades
Separately, StockNews.com lowered First United from a “buy” rating to a “hold” rating in a report on Thursday, August 29th.
Get Our Latest Stock Analysis on First United
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.
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