First United Corporation (FUNC) To Go Ex-Dividend on October 19th

First United Corporation (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, September 23rd. Stockholders of record on Monday, October 19th will be given a dividend of $0.28 per share by the bank on Monday, November 2nd. This represents a $1.12 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, October 19th. This is a 7.7% increase from First United’s previous quarterly dividend of $0.26.

First United has increased its dividend payment by an average of 0.1% annually over the last three years and has increased its dividend annually for the last 6 consecutive years. First United has a payout ratio of 28.4% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First United to earn $4.80 per share next year, which means the company should continue to be able to cover its $1.12 annual dividend with an expected future payout ratio of 23.3%.

First United Stock Performance

FUNC stock traded up $0.32 on Friday, reaching $44.24. The company’s stock had a trading volume of 12,730 shares, compared to its average volume of 41,425. First United has a 52 week low of $33.54 and a 52 week high of $46.30. The company has a market capitalization of $285.35 million, a P/E ratio of 11.46 and a beta of 0.52. The firm has a fifty day moving average of $43.83 and a two-hundred day moving average of $41.80. The company has a debt-to-equity ratio of 0.15, a current ratio of 0.91 and a quick ratio of 0.91.

First United (NASDAQ:FUNC) last posted its earnings results on Monday, July 20th. The bank reported $1.13 EPS for the quarter, beating the consensus estimate of $1.05 by $0.08. First United had a return on equity of 13.69% and a net margin of 20.05%. The firm had revenue of $65.27 million for the quarter, compared to analysts’ expectations of $23.55 million. As a group, analysts predict that First United will post 4.50 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on FUNC shares. Weiss Ratings reiterated a “buy (b)” rating on shares of First United in a research report on Tuesday, October 6th. Raymond James Financial raised their target price on shares of First United from $44.00 to $50.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Hovde Group restated an “outperform” rating and set a $49.00 price target on shares of First United in a research report on Thursday, July 23rd. Finally, Wall Street Zen lowered shares of First United from a “buy” rating to a “hold” rating in a research note on Saturday, August 15th. Three research analysts have rated the stock with a Buy rating. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $49.50.

First United Company Profile

First United Corporation (NASDAQ: FUNC) is a bank holding company headquartered in Oakland, Maryland. Through its subsidiary, First United Bank & Trust, the company provides community banking services to individuals, families, businesses and organizations.

First United Bank & Trust offers a range of financial products, including checking and savings accounts, certificates of deposit, consumer and commercial loans, mortgage lending, online and mobile banking, and related treasury management services.