First United (NASDAQ:FUNC) Posts Earnings Results, Beats Estimates By $0.09 EPS

First United (NASDAQ:FUNC - Get Free Report) issued its earnings results on Monday. The bank reported $0.89 EPS for the quarter, topping the consensus estimate of $0.80 by $0.09, Zacks reports. First United had a return on equity of 12.51% and a net margin of 18.45%. The business had revenue of $20.84 million during the quarter, compared to analysts' expectations of $20.63 million.

First United Stock Performance

First United stock traded down $0.63 during trading hours on Friday, reaching $29.50. 12,611 shares of the company were exchanged, compared to its average volume of 23,953. First United has a 12 month low of $19.17 and a 12 month high of $42.50. The firm has a market cap of $190.95 million, a price-to-earnings ratio of 9.39 and a beta of 0.58. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.70. The stock has a 50-day moving average of $31.14 and a 200 day moving average of $32.95.

First United Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 1st. Investors of record on Thursday, April 17th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Thursday, April 17th. This represents a $0.88 annualized dividend and a yield of 2.98%. First United's dividend payout ratio (DPR) is currently 25.29%.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FUNC. StockNews.com downgraded shares of First United from a "buy" rating to a "hold" rating in a research report on Saturday, March 29th. Raymond James raised First United from a "market perform" rating to an "outperform" rating and set a $42.00 target price on the stock in a research report on Friday, February 7th.

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.