First United (NASDAQ:FUNC) Issues Earnings Results, Beats Expectations By $0.09 EPS

First United (NASDAQ:FUNC) issued its earnings results on Wednesday. The bank reported $0.95 EPS for the quarter, topping the consensus estimate of $0.86 by $0.09, Zacks reports. First United had a return on equity of 12.20% and a net margin of 14.70%.

First United Stock Performance

First United stock opened at $38.99 on Friday. The firm’s fifty day moving average price is $33.83 and its 200-day moving average price is $31.45. First United has a fifty-two week low of $19.17 and a fifty-two week high of $37.00. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The stock has a market cap of $252.27 million, a P/E ratio of 15.58 and a beta of 0.81.

First United Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 3rd. Investors of record on Friday, January 17th were given a $0.22 dividend. This represents a $0.88 annualized dividend and a dividend yield of 2.26%. The ex-dividend date of this dividend was Friday, January 17th. First United’s dividend payout ratio (DPR) is 35.77%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on FUNC shares. Raymond James raised shares of First United from a “market perform” rating to an “outperform” rating and set a $42.00 price target on the stock in a report on Friday. StockNews.com cut shares of First United from a “buy” rating to a “hold” rating in a research note on Friday, January 31st.

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.