First United Corporation Declares Quarterly Dividend of $0.26 (NASDAQ:FUNC)

First United Corporation (NASDAQ:FUNC) declared a quarterly dividend on Wednesday, June 17th. Shareholders of record on Monday, July 20th will be paid a dividend of 0.26 per share by the bank on Monday, August 3rd. This represents a c) dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Monday, July 20th.

First United has raised its dividend by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 6 years. First United has a dividend payout ratio of 26.3% 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 $1.04 annual dividend with an expected future payout ratio of 21.7%.

First United Price Performance

FUNC stock opened at $40.86 on Thursday. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91. The firm has a 50 day moving average price of $38.47 and a 200-day moving average price of $37.99. First United has a 52-week low of $28.00 and a 52-week high of $42.83. The firm has a market capitalization of $263.55 million, a price-to-earnings ratio of 10.45 and a beta of 0.53.

First United (NASDAQ:FUNC) last posted its quarterly earnings results on Tuesday, April 21st. The bank reported $1.02 earnings per share for the quarter, topping the consensus estimate of $0.92 by $0.10. The company had revenue of $23.41 million for the quarter, compared to the consensus estimate of $22.83 million. First United had a return on equity of 13.39% and a net margin of 20.55%. Equities research analysts forecast that First United will post 4.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

FUNC has been the topic of a number of recent research reports. Hovde Group assumed coverage on First United in a research note on Friday, May 29th. They issued an “outperform” rating and a $44.50 target price on the stock. Wall Street Zen cut shares of First United from a “buy” rating to a “hold” rating in a research note on Monday. Two investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $44.50.

First United Company Profile

First United Corporation is a bank holding company that, through its subsidiary First United Bank & Trust, provides a full suite of commercial and consumer banking services to individuals, businesses, and agricultural customers across central Oklahoma. The company offers deposit accounts such as checking, savings, money market and time deposits, alongside a variety of lending solutions covering commercial real estate, construction, agricultural and consumer loans.

In addition to traditional banking products, First United delivers treasury management and cash management solutions designed to streamline client operations, as well as online and mobile banking platforms for account access and payments.