First United (NASDAQ:FUNC) Posts Quarterly Earnings Results, Beats Estimates By $0.10 EPS

First United (NASDAQ:FUNC) announced its quarterly earnings data on Monday. The bank reported $0.89 earnings per share for the quarter, topping the consensus estimate of $0.79 by $0.10, Yahoo Finance reports. The company had revenue of $28.17 million during the quarter, compared to analyst estimates of $20.30 million. First United had a return on equity of 11.78% and a net margin of 13.84%.

First United Price Performance

First United stock opened at $31.32 on Tuesday. The firm has a market capitalization of $208.25 million, a P/E ratio of 14.57 and a beta of 0.79. First United has a one year low of $15.68 and a one year high of $31.93. 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 has a fifty day moving average price of $29.37 and a 200-day moving average price of $24.85.

First United Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, November 1st. Shareholders of record on Friday, October 18th will be issued a dividend of $0.22 per share. This is a boost from First United’s previous quarterly dividend of $0.20. The ex-dividend date is Friday, October 18th. This represents a $0.88 dividend on an annualized basis and a yield of 2.81%. First United’s payout ratio is presently 40.93%.

Insider Activity at First United

In other First United news, Director Irvin Robert Rudy sold 2,000 shares of the firm’s stock in a transaction dated Thursday, July 25th. The stock was sold at an average price of $27.52, for a total value of $55,040.00. Following the completion of the transaction, the director now owns 37,000 shares in the company, valued at $1,018,240. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In the last three months, insiders have purchased 188 shares of company stock worth $5,254. 7.80% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, StockNews.com upgraded shares of First United from a “hold” rating to a “buy” rating in a research note on Monday, October 7th.

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.