First United Co. (FUNC) To Go Ex-Dividend on October 18th

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, September 25th, Zacks reports. Stockholders of record on Friday, October 18th will be paid a dividend of 0.22 per share by the bank on Friday, November 1st. This represents a $0.88 annualized dividend and a dividend yield of 2.96%. The ex-dividend date is Friday, October 18th. This is an increase from First United’s previous quarterly dividend of $0.20.

First United has increased its dividend payment by an average of 14.5% annually over the last three years. First United has a dividend payout ratio of 22.9% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First United to earn $3.50 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 22.9%.

First United Trading Down 0.1 %

Shares of NASDAQ FUNC opened at $29.76 on Friday. First United has a 1-year low of $15.68 and a 1-year high of $30.93. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.91 and a quick ratio of 0.91. The business’s 50 day moving average is $28.20 and its two-hundred day moving average is $23.88. The stock has a market capitalization of $197.87 million, a P/E ratio of 13.84 and a beta of 0.79.

First United (NASDAQ:FUNC) last released its earnings results on Monday, July 22nd. The bank reported $0.75 earnings per share for the quarter, beating the consensus estimate of $0.66 by $0.09. The firm had revenue of $27.95 million for the quarter, compared to the consensus estimate of $19.34 million. First United had a return on equity of 11.78% and a net margin of 13.84%. As a group, research analysts expect that First United will post 3 EPS for the current year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of First United from a “buy” rating to a “hold” rating in a report on Thursday, August 29th.

Insider Buying and Selling

In other news, Director Irvin Robert Rudy sold 2,000 shares of the stock in a transaction that occurred on Thursday, July 25th. The stock was sold at an average price of $27.52, for a total value of $55,040.00. Following the sale, the director now directly owns 37,000 shares in the company, valued at $1,018,240. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders have bought 188 shares of company stock valued at $5,254 in the last ninety days. 7.80% of the stock is owned by company insiders.

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.