First United (NASDAQ:FUNC) Announces Earnings Results

First United (NASDAQ:FUNC) posted its quarterly earnings results on Monday. The bank reported $0.93 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.38 by $0.55, MarketWatch Earnings reports. First United had a return on equity of 15.61% and a net margin of 23.63%.

Shares of NASDAQ:FUNC opened at $19.11 on Thursday. The stock has a market capitalization of $126.41 million, a P/E ratio of 7.44 and a beta of 1.04. The business has a 50-day moving average of $18.21 and a two-hundred day moving average of $17.92. First United has a fifty-two week low of $11.51 and a fifty-two week high of $20.48. The company has a debt-to-equity ratio of 0.77, a current ratio of 0.88 and a quick ratio of 0.88.

The business also recently announced a quarterly dividend, which will be paid on Monday, November 1st. Shareholders of record on Monday, October 18th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Friday, October 15th. This represents a $0.60 annualized dividend and a yield of 3.14%. First United’s dividend payout ratio (DPR) is currently 29.56%.

In related news, Director Christy Dipietro acquired 3,000 shares of the business’s stock in a transaction that occurred on Thursday, August 12th. The shares were acquired at an average cost of $17.95 per share, with a total value of $53,850.00. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In the last three months, insiders have bought 4,795 shares of company stock worth $86,218. 4.60% of the stock is currently owned by insiders.

A hedge fund recently raised its stake in First United stock. Royal Bank of Canada boosted its position in shares of First United Co. (NASDAQ:FUNC) by 660.3% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,113 shares of the bank’s stock after acquiring an additional 3,572 shares during the period. Royal Bank of Canada owned 0.06% of First United worth $72,000 at the end of the most recent quarter. Institutional investors and hedge funds own 30.72% of the company’s stock.

Separately, Zacks Investment Research lowered shares of First United from a “buy” rating to a “hold” rating in a research report on Thursday, September 30th.

About First United

First United Corp. is a bank holding company, which engages in community banking services. It offers checking, savings, money market deposit accounts, and certificates of deposit, business loans, personal loans, mortgage loans, lines of credit, and consumer-oriented retirement accounts including individual retirement accounts, and employee benefit accounts through its subsidiary.

Further Reading: Why does a company issue an IPO?

Earnings History for First United (NASDAQ:FUNC)

Receive News & Ratings for First United Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First United and related companies with MarketBeat.com's FREE daily email newsletter.