Free Trial

First United (NASDAQ:FUNC) Announces Earnings Results

First United logo with Finance background

First United (NASDAQ:FUNC - Get Free Report) posted its quarterly earnings results on Monday. The bank reported $0.92 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.84 by $0.08, Zacks reports. The business had revenue of $21.65 million during the quarter, compared to analyst estimates of $21.26 million. First United had a net margin of 19.95% and a return on equity of 12.94%.

First United Trading Up 2.7%

Shares of NASDAQ:FUNC traded up $0.93 during trading on Monday, hitting $35.76. 40,712 shares of the company's stock were exchanged, compared to its average volume of 26,376. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.66. The firm has a market cap of $231.72 million, a P/E ratio of 10.28 and a beta of 0.61. The firm has a 50-day moving average price of $30.99 and a two-hundred day moving average price of $31.79. First United has a 1-year low of $23.77 and a 1-year high of $42.50.

First United Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, August 1st. Stockholders of record on Friday, July 18th will be issued a $0.22 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $0.88 dividend on an annualized basis and a dividend yield of 2.46%. First United's payout ratio is presently 25.29%.

Institutional Investors Weigh In On First United

Several institutional investors have recently added to or reduced their stakes in FUNC. Millennium Management LLC increased its position in First United by 349.9% during the 1st quarter. Millennium Management LLC now owns 140,586 shares of the bank's stock worth $4,220,000 after buying an additional 109,340 shares during the period. Goldman Sachs Group Inc. grew its position in shares of First United by 53.2% in the 1st quarter. Goldman Sachs Group Inc. now owns 58,718 shares of the bank's stock valued at $1,763,000 after buying an additional 20,387 shares during the last quarter. Empowered Funds LLC increased its position in shares of First United by 6.7% during the first quarter. Empowered Funds LLC now owns 26,549 shares of the bank's stock worth $797,000 after buying an additional 1,656 shares during the period. Finally, Jane Street Group LLC grew its holdings in shares of First United by 67.4% during the first quarter. Jane Street Group LLC now owns 26,035 shares of the bank's stock valued at $782,000 after buying an additional 10,483 shares during the last quarter. 33.27% of the stock is owned by institutional investors.

Analyst Ratings Changes

Separately, Wall Street Zen raised First United from a "hold" rating to a "buy" rating in a research note on Tuesday, May 20th.

View Our Latest Analysis on FUNC

About First United

(Get Free Report)

First United Corporation operates as the bank holding company for First United Bank & Trust that provides various retail and commercial banking services to businesses and individuals. It offers various deposit products, which includes checking, savings, money market deposit, and regular and individual retirement accounts (IRAs), as well as certificates of deposit.

Further Reading

Earnings History for First United (NASDAQ:FUNC)

Should You Invest $1,000 in First United Right Now?

Before you consider First United, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and First United wasn't on the list.

While First United currently has a Buy rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here

 The Best Nuclear Energy Stocks to Buy Cover

Nuclear energy stocks are roaring. It's the hottest energy sector of the year. Cameco Corp, Paladin Energy, and BWX Technologies were all up more than 40% in 2024. The biggest market moves could still be ahead of us, and there are seven nuclear energy stocks that could rise much higher in the next several months. To unlock these tickers, enter your email address below.

Get This Free Report
Like this article? Share it with a colleague.

Featured Articles and Offers

Recent Videos

Why Drone Stocks Are Skyrocketing Right Now!
Pelosi Makes Big Bet on Broadcom—Here’s Why It Matters
This Strategy Beat the S&P—And Most Investors Ignore It

Stock Lists

All Stock Lists

Investing Tools

Calendars and Tools

Search Headlines