First United Co. (NASDAQ:FUNC) Announces $0.22 Quarterly Dividend

First United Co. (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, March 5th, RTT News reports. Shareholders of record on Thursday, April 17th will be paid a dividend of 0.22 per share by the bank on Thursday, May 1st. This represents a $0.88 dividend on an annualized basis and a yield of 2.66%. The ex-dividend date of this dividend is Thursday, April 17th.

First United has raised its dividend by an average of 11.9% annually over the last three years. First United has a payout ratio of 21.0% meaning 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 Stock Performance

Shares of NASDAQ FUNC opened at $33.10 on Friday. The company has a debt-to-equity ratio of 0.70, a quick ratio of 0.94 and a current ratio of 0.94. The company has a market cap of $214.12 million, a P/E ratio of 10.51 and a beta of 0.81. The firm’s fifty day moving average is $34.97 and its two-hundred day moving average is $32.95. First United has a 52-week low of $19.17 and a 52-week high of $42.50.

First United (NASDAQ:FUNC) last posted its earnings results on Wednesday, February 5th. The bank reported $0.95 earnings per share for the quarter, topping analysts’ consensus estimates of $0.86 by $0.09. First United had a net margin of 18.45% and a return on equity of 12.51%. As a group, analysts anticipate that First United will post 3.75 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the stock. Raymond James upgraded shares of First United from a “market perform” rating to an “outperform” rating and set a $42.00 target price on the stock in a report on Friday, February 7th. StockNews.com upgraded shares of First United from a “hold” rating to a “buy” rating in a report on Monday, February 24th.

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.