First United Corporation (NASDAQ:FUNC) Declares Quarterly Dividend of $0.26

First United Corporation (NASDAQ:FUNC) announced a quarterly dividend on Wednesday, June 17th. Shareholders 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 yield of 2.5%. The ex-dividend date of this dividend is Monday, July 20th.

First United has raised its dividend payment by an average of 0.1%annually over the last three years and has increased its dividend every year for the last 6 years. First United has a dividend payout ratio of 26.3% meaning its dividend is sufficiently covered by earnings. Research 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 Trading Down 1.2%

First United stock opened at $40.86 on Thursday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.15. First United has a 12 month low of $28.00 and a 12 month high of $42.83. The stock’s 50 day simple moving average is $38.47 and its two-hundred day simple moving average is $37.99. The firm has a market cap of $263.55 million, a PE ratio of 10.45 and a beta of 0.53.

First United (NASDAQ:FUNC) last released its quarterly earnings data on Tuesday, April 21st. The bank reported $1.02 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $22.83 million. Analysts anticipate that First United will post 4.4 earnings per share for the current year.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. AdvisorNet Financial Inc raised its stake in shares of First United by 126.8% during the 1st quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock worth $33,000 after buying an additional 501 shares during the period. Kestra Advisory Services LLC acquired a new position in shares of First United during the 4th quarter worth approximately $38,000. BNP Paribas Financial Markets raised its stake in shares of First United by 102.1% during the 3rd quarter. BNP Paribas Financial Markets now owns 1,524 shares of the bank’s stock worth $56,000 after buying an additional 770 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. acquired a new position in shares of First United during the 2nd quarter worth approximately $102,000. Finally, New York State Common Retirement Fund acquired a new position in shares of First United during the 2nd quarter worth approximately $105,000. 33.27% of the stock is owned by institutional investors and hedge funds.

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.