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

First United Corporation (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, September 23rd. Investors of record on Monday, October 19th will be paid 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 yield of 2.6%. 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 raised its dividend payment by an average of 0.1%per year over the last three years and has raised its dividend annually for the last 6 consecutive years. First United has a payout ratio of 26.3% indicating that 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 Stock Up 1.3%

FUNC stock opened at $43.30 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The firm has a market capitalization of $279.46 million, a PE ratio of 11.22 and a beta of 0.51. First United has a twelve month low of $33.54 and a twelve month high of $46.30. The stock has a 50-day simple moving average of $44.16 and a two-hundred day simple moving average of $41.01.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, July 20th. The bank reported $1.13 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.05 by $0.08. The firm had revenue of $65.27 million for the quarter, compared to the consensus estimate of $23.55 million. First United had a net margin of 20.05% and a return on equity of 13.69%. On average, equities analysts predict that First United will post 4.5 EPS for the current fiscal year.

About First United

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

First United Bank & Trust offers deposit products, residential and commercial real estate lending, consumer loans, business financing and other credit services. The bank also provides wealth management, trust, investment and insurance-related services through its banking and financial services operations.

Founded in 1900, First United serves communities in western Maryland and nearby areas of West Virginia and southwestern Pennsylvania through branch offices, digital banking services and other delivery channels.