First United Corporation (FUNC) To Go Ex-Dividend on July 20th

First United Corporation (NASDAQ:FUNCGet Free Report) announced a quarterly dividend on Wednesday, June 17th. Stockholders of record on Monday, July 20th will be given a dividend of 0.26 per share by the bank on Monday, August 3rd. This represents a c) annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Monday, July 20th.

First United has increased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend annually for the last 6 consecutive years. First United has a payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First United to earn $4.80 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 21.7%.

First United Stock Performance

Shares of NASDAQ FUNC opened at $45.35 on Friday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $292.51 million, a price-to-earnings ratio of 11.60 and a beta of 0.52. The stock’s fifty day simple moving average is $41.25 and its 200 day simple moving average is $38.72. First United has a 52-week low of $31.71 and a 52-week high of $46.30.

First United (NASDAQ:FUNCGet Free Report) last announced its earnings results on Tuesday, April 21st. The bank reported $1.02 EPS for the quarter, beating the consensus estimate of $0.92 by $0.10. First United had a return on equity of 13.39% and a net margin of 20.55%.The business had revenue of $23.41 million during the quarter, compared to the consensus estimate of $22.83 million. As a group, sell-side analysts forecast that First United will post 4.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms have commented on FUNC. Hovde Group started coverage on shares of First United in a research note on Friday, May 29th. They set an “outperform” rating and a $44.50 price objective for the company. Weiss Ratings reissued a “buy (b)” rating on shares of First United in a research report on Friday, July 10th. Raymond James Financial boosted their price target on shares of First United from $44.00 to $50.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Finally, Wall Street Zen downgraded shares of First United from a “buy” rating to a “hold” rating in a research report on Monday, June 15th. Three analysts have rated the stock with a Buy rating, According to MarketBeat, First United currently has an average rating of “Buy” and an average target price of $47.25.

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First United Company Profile

(Get Free Report)

First United Corporation is a bank holding company that, through its subsidiary First United Bank & Trust, provides a full suite of commercial and consumer banking services to individuals, businesses, and agricultural customers across central Oklahoma. The company offers deposit accounts such as checking, savings, money market and time deposits, alongside a variety of lending solutions covering commercial real estate, construction, agricultural and consumer loans.

In addition to traditional banking products, First United delivers treasury management and cash management solutions designed to streamline client operations, as well as online and mobile banking platforms for account access and payments.

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Dividend History for First United (NASDAQ:FUNC)

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