First United Corporation (FUNC) To Go Ex-Dividend on October 17th

First United Corporation (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, September 24th, RTT News reports. Shareholders of record on Friday, October 17th will be given a dividend of 0.26 per share by the bank on Monday, November 3rd. This represents a c) annualized dividend and a yield of 2.7%. The ex-dividend date is Friday, October 17th. This is a 18.2% increase from First United’s previous quarterly dividend of $0.22.

First United has a payout ratio of 22.3% meaning its dividend is sufficiently covered by earnings. 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 Price Performance

NASDAQ FUNC opened at $37.89 on Friday. The firm’s 50-day simple moving average is $35.52 and its two-hundred day simple moving average is $32.04. First United has a 52 week low of $24.66 and a 52 week high of $42.50. The company has a market cap of $245.91 million, a PE ratio of 10.38 and a beta of 0.70. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.63.

First United (NASDAQ:FUNC) last announced its quarterly earnings results on Monday, July 21st. The bank reported $0.92 earnings per share for the quarter, beating the consensus estimate of $0.84 by $0.08. First United had a return on equity of 13.05% and a net margin of 20.53%.The firm had revenue of $21.65 million for the quarter, compared to analysts’ expectations of $21.26 million. Research analysts predict that First United will post 3.75 earnings per share for the current year.

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.