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

First United (NASDAQ:FUNC) posted its earnings results on Monday. The bank reported $0.75 EPS for the quarter, topping analysts’ consensus estimates of $0.66 by $0.09, Yahoo Finance reports. The firm had revenue of $27.95 million during the quarter, compared to analysts’ expectations of $19.34 million. First United had a net margin of 13.84% and a return on equity of 11.85%.

First United Trading Up 0.0 %

NASDAQ FUNC traded up $0.01 during trading hours on Wednesday, reaching $26.61. The company’s stock had a trading volume of 44,766 shares, compared to its average volume of 24,893. The firm has a fifty day simple moving average of $20.99 and a 200-day simple moving average of $21.84. The stock has a market cap of $176.96 million, a P/E ratio of 12.65 and a beta of 0.79. First United has a 52 week low of $15.68 and a 52 week high of $27.70. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.90 and a quick ratio of 0.90.

First United Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 1st. Investors of record on Thursday, July 18th will be issued a $0.20 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 3.01%. First United’s dividend payout ratio (DPR) is presently 37.21%.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of First United from a “buy” rating to a “hold” rating in a report on Monday.

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.