First United (NASDAQ:FUNC) Releases Quarterly Earnings Results, Beats Estimates By $0.14 EPS

First United (NASDAQ:FUNC) released its quarterly earnings data on Wednesday. The bank reported $1.10 EPS for the quarter, topping the consensus estimate of $0.96 by $0.14, FiscalAI reports. First United had a return on equity of 13.24% and a net margin of 21.02%.The company had revenue of $23.50 million during the quarter, compared to the consensus estimate of $22.80 million.

First United Price Performance

Shares of First United stock traded down $0.50 during trading hours on Wednesday, reaching $39.22. The company’s stock had a trading volume of 14,488 shares, compared to its average volume of 19,586. The stock has a market cap of $254.93 million, a P/E ratio of 10.24 and a beta of 0.54. First United has a one year low of $24.66 and a one year high of $42.50. The company has a debt-to-equity ratio of 0.48, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a 50 day moving average price of $38.57 and a 200-day moving average price of $36.75.

First United Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 16th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 2.7%. The ex-dividend date of this dividend was Friday, January 16th. First United’s dividend payout ratio (DPR) is presently 27.15%.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets lifted its holdings in shares of First United by 102.1% in the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock worth $56,000 after acquiring an additional 770 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in shares of First United during the second quarter valued at approximately $102,000. New York State Common Retirement Fund bought a new position in shares of First United during the second quarter valued at approximately $105,000. JPMorgan Chase & Co. bought a new position in shares of First United during the second quarter valued at approximately $148,000. Finally, Bank of America Corp DE lifted its stake in shares of First United by 154.5% during the 2nd quarter. Bank of America Corp DE now owns 5,217 shares of the bank’s stock worth $162,000 after acquiring an additional 3,167 shares during the last quarter. 33.27% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of First United in a research report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock presently has an average rating of “Buy” and an average target price of $42.00.

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.