First United Corporation (FUNC) To Go Ex-Dividend on January 16th

First United Corporation (NASDAQ:FUNC) announced a quarterly dividend on Thursday, December 4th. Stockholders of record on Friday, January 16th will be paid a dividend of 0.26 per share by the bank on Monday, February 2nd. This represents a c) annualized dividend and a dividend yield of 2.7%. The ex-dividend date is Friday, January 16th.

First United has raised its dividend by an average of 0.2%per year over the last three years and has raised its dividend every year for the last 6 years. First United has a dividend payout ratio of 26.3% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First United to earn $4.20 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 24.8%.

First United Price Performance

NASDAQ:FUNC opened at $38.61 on Friday. The business’s 50-day moving average is $36.35 and its 200 day moving average is $34.42. First United has a 12 month low of $24.66 and a 12 month high of $42.50. The company has a market capitalization of $250.97 million, a P/E ratio of 10.08 and a beta of 0.53. The company has a current ratio of 0.93, a quick ratio of 0.93 and a debt-to-equity ratio of 0.48.

First United (NASDAQ:FUNC) last released its quarterly earnings data on Tuesday, October 21st. The bank reported $1.07 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.89 by $0.18. The business had revenue of $22.80 million for the quarter, compared to the consensus estimate of $22.13 million. First United had a return on equity of 13.24% and a net margin of 21.02%.During the same quarter in the previous year, the company posted $0.89 EPS. On average, equities research analysts forecast that First United will post 3.75 earnings per share for the current fiscal year.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of First United in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of “Buy” and an average target price of $42.00.

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.