First United Co. (NASDAQ:FUNC) declared a quarterly dividend on Monday, September 27th, Zacks reports. Investors of record on Monday, October 18th will be paid a dividend of 0.15 per share by the bank on Monday, November 1st. This represents a $0.60 annualized dividend and a yield of 3.33%. The ex-dividend date of this dividend is Friday, October 15th.
First United has a payout ratio of 15.4% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First United to earn $2.40 per share next year, which means the company should continue to be able to cover its $0.43 annual dividend with an expected future payout ratio of 17.9%.
FUNC opened at $18.00 on Thursday. The company has a fifty day moving average price of $18.18 and a two-hundred day moving average price of $17.92. The firm has a market capitalization of $119.07 million, a PE ratio of 7.00 and a beta of 1.04. First United has a 52 week low of $11.51 and a 52 week high of $20.48. The company has a debt-to-equity ratio of 0.77, a quick ratio of 0.88 and a current ratio of 0.88.
In other news, Director Christy Dipietro purchased 3,000 shares of First United stock in a transaction dated Thursday, August 12th. The shares were bought 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 Securities & Exchange Commission, which can be accessed through this link. Over the last quarter, insiders acquired 4,577 shares of company stock worth $82,235. Company insiders own 4.60% of the company’s stock.
A hedge fund recently raised its stake in First United stock. Royal Bank of Canada increased its holdings in shares of First United Co. (NASDAQ:FUNC) by 660.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 4,113 shares of the bank’s stock after purchasing an additional 3,572 shares during the period. Royal Bank of Canada owned approximately 0.06% of First United worth $72,000 at the end of the most recent quarter. 30.72% of the stock is owned by institutional investors.
Separately, Zacks Investment Research cut First United from a “buy” rating to a “hold” rating in a research note on Thursday, September 30th.
First United Company Profile
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.
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