First United (NASDAQ:FUNC) Releases Quarterly Earnings Results, Beats Expectations By $0.10 EPS

First United (NASDAQ:FUNC) posted its quarterly earnings data on Monday. The bank reported $1.02 EPS for the quarter, topping the consensus estimate of $0.92 by $0.10, Zacks reports. The firm had revenue of $23.41 million during the quarter, compared to analyst estimates of $22.83 million. First United had a return on equity of 13.51% and a net margin of 20.55%.

First United Stock Performance

Shares of NASDAQ FUNC opened at $37.91 on Wednesday. The company has a market cap of $246.42 million, a P/E ratio of 9.70 and a beta of 0.53. First United has a 52-week low of $28.00 and a 52-week high of $41.94. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.94 and a current ratio of 0.94. The firm’s fifty day moving average is $36.80 and its two-hundred day moving average is $37.28.

First United Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 17th will be paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Friday, April 17th. First United’s dividend payout ratio (DPR) is presently 27.59%.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Kestra Advisory Services LLC bought a new stake in shares of First United in the fourth quarter worth about $38,000. BNP Paribas Financial Markets grew its holdings in First United by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock valued at $56,000 after buying an additional 770 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. purchased a new position in First United during the 2nd quarter valued at approximately $102,000. New York State Common Retirement Fund bought a new stake in First United in the 2nd quarter worth approximately $105,000. Finally, JPMorgan Chase & Co. bought a new stake in First United in the 2nd quarter worth approximately $148,000. Hedge funds and other institutional investors own 33.27% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “buy (b-)” rating on shares of First United in a research report on Thursday, January 22nd. One investment analyst has rated the stock with a Buy rating, According to data from MarketBeat, the company has a consensus rating of “Buy”.

About First United

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.