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

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

First United Trading Up 10.8 %

Shares of NASDAQ:FUNC opened at $26.60 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $176.89 million, a price-to-earnings ratio of 12.37 and a beta of 0.79. First United has a 1-year low of $15.68 and a 1-year high of $26.60. The company has a 50 day moving average price of $20.99 and a 200 day moving average price of $21.84.

First United Dividend Announcement

The firm also recently announced 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 dividend yield of 3.01%. First United’s payout ratio is currently 37.21%.

Analyst Upgrades and Downgrades

Separately, StockNews.com cut First United from a “buy” rating to a “hold” rating in a research note on Monday.

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.