First United Co. (NASDAQ:FUNC) Announces Quarterly Dividend of $0.22

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Investors of record on Thursday, April 17th will be given a dividend of 0.22 per share by the bank on Thursday, May 1st. This represents a $0.88 annualized dividend and a yield of 2.62%.

First United has raised its dividend by an average of 11.9% per year over the last three years. First United has a payout ratio of 21.0% meaning its dividend is sufficiently covered by earnings. Analysts expect First United to earn $4.20 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 21.0%.

First United Stock Performance

NASDAQ FUNC opened at $33.59 on Thursday. The company has a fifty day simple moving average of $34.98 and a 200 day simple moving average of $32.94. First United has a 12-month low of $19.17 and a 12-month high of $42.50. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70. The company has a market cap of $217.29 million, a P/E ratio of 10.66 and a beta of 0.81.

First United (NASDAQ:FUNC) last posted its quarterly earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.86 by $0.09. First United had a net margin of 18.45% and a return on equity of 12.51%. Sell-side analysts predict that First United will post 3.75 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FUNC shares. StockNews.com raised shares of First United from a “hold” rating to a “buy” rating in a report on Monday, February 24th. Raymond James raised shares of First United from a “market perform” rating to an “outperform” rating and set a $42.00 price objective on the stock in a report on Friday, February 7th.

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.