First United Co. (FUNC) To Go Ex-Dividend on October 18th

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, October 18th will be given 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 2.83%. 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 increased its dividend payment by an average of 14.5% annually over the last three years. First United has a dividend payout ratio of 25.9% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First United to earn $3.40 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 25.9%.

First United Stock Up 0.7 %

FUNC opened at $31.11 on Wednesday. First United has a 12 month low of $15.68 and a 12 month high of $31.66. The business has a 50-day moving average of $28.92 and a two-hundred day moving average of $24.55. The stock has a market capitalization of $206.85 million, a price-to-earnings ratio of 14.47 and a beta of 0.79. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.91.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, July 22nd. The bank reported $0.75 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.09. The company had revenue of $27.95 million for the quarter, compared to analyst estimates of $19.34 million. First United had a net margin of 13.84% and a return on equity of 11.78%. On average, research analysts expect that First United will post 2.98 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

Insider Transactions at First United

In related news, Director Irvin Robert Rudy sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $27.52, for a total transaction of $55,040.00. Following the sale, the director now directly owns 37,000 shares in the company, valued at approximately $1,018,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Insiders purchased 188 shares of company stock valued at $5,254 over the last quarter. Company insiders own 7.80% of the company’s stock.

About First United

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.