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

First United Co. (NASDAQ:FUNC - Get Free Report) announced 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 dividend on an annualized basis and a dividend yield of 2.76%. The ex-dividend date 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. Research 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 Down 3.7 %

Shares of FUNC traded down $1.23 on Friday, hitting $31.87. The company's stock had a trading volume of 18,895 shares, compared to its average volume of 23,731. The firm's fifty day moving average price is $34.91 and its 200-day moving average price is $32.97. First United has a fifty-two week low of $19.17 and a fifty-two week high of $42.50. 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 firm has a market capitalization of $206.17 million, a price-to-earnings ratio of 10.12 and a beta of 0.77.

First United (NASDAQ:FUNC - Get Free Report) last released its quarterly 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 net margin of 18.45% and a return on equity of 12.51%. On average, equities research analysts expect that First United will post 3.75 EPS for the current year.

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Wall Street Analyst Weigh In

Several research firms have issued reports on FUNC. Raymond James raised First United from a "market perform" rating to an "outperform" rating and set a $42.00 price target on the stock in a research note on Friday, February 7th. StockNews.com raised First United from a "hold" rating to a "buy" rating in a research 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.