First United Co. (FUNC) To Go Ex-Dividend on April 17th

First United Co. (NASDAQ:FUNC) declared a quarterly dividend on Wednesday, March 5th, RTT News reports. Stockholders of record on Thursday, April 17th will be given a dividend of 0.22 per share by the bank on Thursday, May 1st. This represents a $0.88 annualized dividend and a dividend yield of 3.22%. The ex-dividend date is Thursday, April 17th.

First United has raised its dividend payment by an average of 11.9% per year over the last three years. First United has a payout ratio of 22.3% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect First United to earn $4.20 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 21.0%.

First United Trading Up 0.9 %

First United stock opened at $27.29 on Tuesday. First United has a 52-week low of $19.17 and a 52-week high of $42.50. The company has a market cap of $176.65 million, a P/E ratio of 8.66 and a beta of 0.58. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.70. The business has a 50-day simple moving average of $32.98 and a two-hundred day simple moving average of $33.05.

First United (NASDAQ:FUNC) last released its earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share for the quarter, beating the consensus estimate of $0.86 by $0.09. First United had a return on equity of 12.51% and a net margin of 18.45%. Analysts predict that First United will post 3.75 EPS for the current year.

Analysts Set New Price Targets

FUNC has been the subject of a number of research reports. Raymond James raised shares of First United from a “market perform” rating to an “outperform” rating and set a $42.00 price objective for the company in a research note on Friday, February 7th. StockNews.com cut shares of First United from a “buy” rating to a “hold” rating in a report on Saturday, March 29th.

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.