First United (NASDAQ:FUNC) Posts Quarterly Earnings Results, Beats Expectations By $0.10 EPS
by Teresa Graham · The Cerbat GemFirst United (NASDAQ:FUNC – Get Free Report) announced its earnings results on Monday. The bank reported $1.02 EPS for the quarter, topping the consensus estimate of $0.92 by $0.10, Zacks reports. First United had a return on equity of 13.33% and a net margin of 20.19%.
First United Trading Down 0.4%
Shares of FUNC traded down $0.14 during trading hours on Monday, hitting $37.48. 6,741 shares of the stock traded hands, compared to its average volume of 14,213. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.47. First United has a 1-year low of $27.86 and a 1-year high of $41.94. The firm has a market capitalization of $243.62 million, a PE ratio of 9.94 and a beta of 0.53. The business has a fifty day moving average of $36.84 and a 200-day moving average of $37.25.
First United Dividend Announcement
The company also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Stockholders 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 dividend yield of 2.8%. The ex-dividend date of this dividend is Friday, April 17th. First United’s dividend payout ratio is 27.59%.
Hedge Funds Weigh In On First United
Large investors have recently made changes to their positions in the company. Wells Fargo & Company MN lifted its stake in shares of First United by 46.2% during the fourth quarter. Wells Fargo & Company MN now owns 6,750 shares of the bank’s stock valued at $253,000 after acquiring an additional 2,134 shares during the period. Qube Research & Technologies Ltd acquired a new position in shares of First United during the third quarter valued at $239,000. Osaic Holdings Inc. acquired a new position in shares of First United during the second quarter valued at $215,000. AQR Capital Management LLC acquired a new position in shares of First United during the fourth quarter valued at $215,000. Finally, Corient Private Wealth LLC acquired a new position in shares of First United during the fourth quarter valued at $205,000. Institutional investors and hedge funds own 33.27% of the company’s stock.
Analysts Set New Price Targets
Separately, Weiss Ratings restated a “buy (b-)” rating on shares of First United in a report on Thursday, January 22nd. One analyst has rated the stock with a Buy rating, According to MarketBeat, the company has an average rating of “Buy”.
Check Out Our Latest Analysis on FUNC
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.