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

First United Corporation (NASDAQ:FUNC) declared a quarterly dividend on Wednesday, June 17th. Shareholders of record on Monday, July 20th will be paid 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 is Monday, July 20th.

First United has increased its dividend by an average of 0.1%per year over the last three years and has increased 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. 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%

Shares of NASDAQ:FUNC opened at $40.86 on Thursday. The stock’s 50-day simple moving average is $38.47 and its two-hundred day simple moving average is $37.99. The stock has a market capitalization of $263.55 million, a price-to-earnings ratio of 10.45 and a beta of 0.53. First United has a 52-week low of $28.00 and a 52-week high of $42.83. The company has a debt-to-equity ratio of 0.15, a quick ratio of 0.91 and a current ratio of 0.91.

First United (NASDAQ:FUNC) last released its quarterly 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 net margin of 20.55% and a return on equity of 13.39%. The firm had revenue of $23.41 million during the quarter, compared to analyst estimates of $22.83 million. Analysts expect that First United will post 4.4 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the company. AdvisorNet Financial Inc lifted its holdings in First United by 126.8% in the 1st quarter. AdvisorNet Financial Inc now owns 896 shares of the bank’s stock worth $33,000 after purchasing an additional 501 shares in the last quarter. Kestra Advisory Services LLC purchased a new stake in First United during the 4th quarter valued at approximately $38,000. BNP Paribas Financial Markets raised its position in shares of First United by 102.1% during the third 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 during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. bought a new stake in shares of First United during the second quarter valued at approximately $102,000. Finally, New York State Common Retirement Fund purchased a new position in shares of First United in the second quarter worth $105,000. Institutional investors own 33.27% of the company’s stock.

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.