First United (NASDAQ:FUNC) Announces Earnings Results, Beats Estimates By $0.14 EPS

First United (NASDAQ:FUNC) issued its quarterly earnings data on Wednesday. The bank reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.96 by $0.14, FiscalAI reports. First United had a net margin of 20.19% and a return on equity of 13.55%. The firm had revenue of $23.50 million during the quarter, compared to the consensus estimate of $22.80 million.

First United Stock Performance

NASDAQ:FUNC opened at $39.41 on Friday. The company has a market cap of $256.17 million, a price-to-earnings ratio of 10.45 and a beta of 0.54. First United has a fifty-two week low of $24.66 and a fifty-two week high of $42.50. The company has a debt-to-equity ratio of 0.48, a quick ratio of 0.93 and a current ratio of 0.93. The stock has a fifty day moving average price of $38.62 and a 200-day moving average price of $36.79.

First United Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, February 2nd. Shareholders of record on Friday, January 16th were issued a $0.26 dividend. The ex-dividend date of this dividend was Friday, January 16th. This represents a $1.04 annualized dividend and a yield of 2.6%. First United’s payout ratio is currently 27.15%.

Wall Street Analyst Weigh In

Separately, Weiss Ratings reissued a “buy (b-)” rating on shares of First United in a report on Thursday, January 22nd. Two analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $42.00.

Hedge Funds Weigh In On First United

Several hedge funds and other institutional investors have recently made changes to their positions in FUNC. Qube Research & Technologies Ltd bought a new position in First United in the third quarter valued at approximately $239,000. Arrowstreet Capital Limited Partnership increased its stake in shares of First United by 1.2% in the 3rd quarter. Arrowstreet Capital Limited Partnership now owns 101,118 shares of the bank’s stock valued at $3,718,000 after purchasing an additional 1,194 shares during the last quarter. BNP Paribas Financial Markets raised its holdings 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 in the last quarter. JPMorgan Chase & Co. lifted its position in shares of First United by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 5,208 shares of the bank’s stock worth $191,000 after buying an additional 431 shares during the last quarter. Finally, Osaic Holdings Inc. acquired a new stake in First United in the second quarter valued at about $215,000. 33.27% of the stock is currently owned by institutional investors and hedge funds.

First United Company Profile

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.