First United (NASDAQ:FUNC) Issues Earnings Results

First United (NASDAQ:FUNC) issued its earnings results on Monday. The bank reported $0.89 earnings per share for the quarter, topping analysts’ consensus estimates of $0.79 by $0.10, Yahoo Finance reports. The firm had revenue of $28.17 million during the quarter, compared to analyst estimates of $20.30 million. First United had a net margin of 13.84% and a return on equity of 11.78%.

First United Price Performance

Shares of FUNC stock traded down $0.05 during trading hours on Wednesday, reaching $31.16. The stock had a trading volume of 18,357 shares, compared to its average volume of 23,087. The stock’s fifty day simple moving average is $29.45 and its 200 day simple moving average is $24.91. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.43. First United has a 12 month low of $15.68 and a 12 month high of $31.93. The firm has a market capitalization of $207.15 million, a PE ratio of 14.47 and a beta of 0.79.

First United Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 1st. Stockholders of record on Friday, October 18th will be given a $0.22 dividend. This is a positive change from First United’s previous quarterly dividend of $0.20. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.82%. The ex-dividend date of this dividend is Friday, October 18th. First United’s dividend payout ratio (DPR) is 40.93%.

Analyst Ratings Changes

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

Insider Activity

In related 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 value of $55,040.00. Following the sale, the director now directly owns 37,000 shares of the company’s stock, valued at $1,018,240. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Over the last ninety days, insiders bought 188 shares of company stock worth $5,254. 7.80% of the stock is owned by company insiders.

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.