First United Co. (FUNC) to Issue Quarterly Dividend of $0.20 on August 1st

First United Co. (NASDAQ:FUNC) declared 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 annualized dividend and a dividend yield of 3.57%. The ex-dividend date is Thursday, July 18th.

First United has raised its dividend by an average of 14.5% annually over the last three years. First United has a payout ratio of 25.4% meaning its dividend is sufficiently covered by earnings. Equities research 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

NASDAQ FUNC opened at $22.43 on Tuesday. The company has a fifty day moving average price of $20.77 and a 200-day moving average price of $21.81. The firm has a market cap of $149.16 million, a price-to-earnings ratio of 10.43 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90. First United has a 1 year low of $15.01 and a 1 year high of $24.28.

First United (NASDAQ:FUNC) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.62 EPS for the quarter, beating the consensus estimate of $0.56 by $0.06. The firm 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%. As a group, equities research analysts predict that First United will post 2.75 EPS for the current fiscal year.

Analyst Ratings Changes

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.