Reported Earnings • Apr 21
First quarter 2026 earnings: EPS and revenues exceed analyst expectations First quarter 2026 results: EPS: US$1.03 (up from US$0.90 in 1Q 2025). Revenue: US$22.5m (up 11% from 1Q 2025). Net income: US$6.66m (up 15% from 1Q 2025). Profit margin: 30% (up from 29% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.6%. Earnings per share (EPS) also surpassed analyst estimates by 12%. Revenue is forecast to grow 8.2% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year but the company’s share price has increased by 33% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 21
First United Corporation Announces Net Charge-Offs for the First Quarter Ended March 31, 2026 First United Corporation announced net charge-offs for the first quarter ended March 31, 2026. The company announced Total Net Charge Offs of $198,000 against $360,000 a year ago. Upcoming Dividend • Apr 10
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 17 April 2026. Payment date: 01 May 2026. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of American dividend payers (4.2%). Higher than average of industry peers (2.4%). Aankondiging • Mar 26
First United Corporation Announces Retirement of Ms. Carissa L. Rodeheaver as Director, Effective May 7, 2026 First United Corporation announced Carissa L. Rodeheaver, a current director, is retiring from the Board and will not stand for reelection at the 2026 Annual Meeting. Mr. Rush has been nominated to fill the vacancy that will be created upon Ms. Rodeheaver’s retirement. 2026 Annual Meeting of the Shareholders will be held on May 7, 2026. Reported Earnings • Mar 12
Full year 2025 earnings: EPS misses analyst expectations Full year 2025 results: EPS: US$3.78 (up from US$3.15 in FY 2024). Revenue: US$85.9m (up 12% from FY 2024). Net income: US$24.5m (up 19% from FY 2024). Profit margin: 28% (up from 27% in FY 2024). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.67% (up from 3.38% in FY 2024). Non-performing loans: 0.31% (down from 0.39% in FY 2024). Revenue was in line with analyst estimates. Earnings per share (EPS) missed analyst estimates by 1.8%. Revenue is forecast to grow 8.3% p.a. on average during the next 2 years, compared to a 8.8% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has increased by 29% per year, which means it is tracking significantly ahead of earnings growth. Declared Dividend • Mar 08
Fourth quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 17th April 2026 Payment date: 1st May 2026 Dividend yield will be 2.8%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (25% payout ratio) and is expected to be well covered in 3 years' time (24% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 23% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Mar 05
First United Corporation Announces Dividend for the Second Quarter of 2026, Payable on May 1, 2026 First United Corporation announced that its Board of Directors declared a second quarter 2026 cash dividend of $0.26 per share that will be payable on May 1, 2026, to holders of record of the Corporation's common stock as of the close of business on April 17, 2026. Aankondiging • Feb 05
First United Corporation Reports Unaudited Net Charge Offs for the Fourth Quarter Ended December 31, 2025 First United Corporation reported unaudited net charge offs for the fourth quarter ended December 31, 2025. for the quarter, the company reported net charge offs of $99,000 against $362,000 a year ago. Aankondiging • Feb 03
First United Corporation and First United Bank & Trust Appoints Anthony Tasker as Senior Vice President and Chief Operating Officer, Effective January 28, 2026 First United Corporation appointed Anthony "AJ" Tasker to serve as Senior Vice President and Chief Operating Officer, effective January 28, 2026. From September 2024 until his appointment as COO, Mr. Tasker served as the Managing Director of Operations of the Bank. Between June 2023 and August 2024, he served as the Managing Director of Information Technology of the Bank. Between May 2018 and June 2023, he served as the Director of Information Technology of the Bank. Between September 2015 and May 2018, he served as the Information Technology Manager of the Bank. Between April 2014 and August 2015, he served as the Assistant Information Technology Manager of the Bank. Between February 2011 and March 2014, he served as the Network and Server Administrator of the Bank. Between November 2008 and January 2011, he served as the Wide Area Network Administrator of the Bank. Upcoming Dividend • Jan 09
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 16 January 2026. Payment date: 02 February 2026. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (2.3%). Declared Dividend • Dec 08
Third quarter dividend of US$0.26 announced Shareholders will receive a dividend of US$0.26. Ex-date: 16th January 2026 Payment date: 2nd February 2026 Dividend yield will be 2.5%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (24% payout ratio) and is expected to be well covered in 3 years' time (23% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 8 years and payments have been stable during that time. EPS is expected to grow by 18% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Dec 05
First United Corporation Announces Dividend for the First Quarter of 2026, Payable on February 2, 2026 First United Corporation announced that its Board of Directors declared a cash dividend of $0.26 per share that will be payable on February 2, 2026, to holders of record of the Corporation's common stock as of the close of business on January 16, 2026. Aankondiging • Nov 17
First United Corporation, Annual General Meeting, May 07, 2026 First United Corporation, Annual General Meeting, May 07, 2026. Reported Earnings • Oct 21
Third quarter 2025 earnings: EPS and revenues exceed analyst expectations Third quarter 2025 results: EPS: US$1.07 (up from US$0.89 in 3Q 2024). Revenue: US$22.2m (up 11% from 3Q 2024). Net income: US$6.95m (up 20% from 3Q 2024). Profit margin: 31% (up from 29% in 3Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.7%. Earnings per share (EPS) also surpassed analyst estimates by 20%. Revenue is forecast to grow 7.7% p.a. on average during the next 2 years, compared to a 8.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 2% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Aankondiging • Oct 21
First United Corporation Reports Net Charge-Offs for the Third Quarter Ended September 30, 2025 First United Corporation reported net charge-offs for the third quarter ended September 30, 2025. For the quarter, the company reported net charge-offs of $435,000 against $109,000 a year ago. Upcoming Dividend • Oct 12
Upcoming dividend of US$0.26 per share Eligible shareholders must have bought the stock before 17 October 2025. Payment date: 03 November 2025. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.0%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (2.5%). Declared Dividend • Sep 28
Second quarter dividend increased to US$0.26 Dividend of US$0.26 is 18% higher than last year. Ex-date: 17th October 2025 Payment date: 3rd November 2025 Dividend yield will be 2.4%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 14% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 8.2% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • Sep 25
First United Corporation Announces Dividend for the Fourth Quarter 2025, Payable on November 3, 2025 First United Corporation announced that its Board of Directors declared a cash dividend of $0.26 per share that will be payable on November 3, 2025, to holders of record of the Corporation's common stock as of the close of business on October 17, 2025. Recent Insider Transactions • Aug 28
Independent Director recently sold US$75k worth of stock On the 26th of August, Irvin Rudy sold around 2k shares on-market at roughly US$37.35 per share. This transaction amounted to 5.1% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$39k more than they bought in the last 12 months. Reported Earnings • Jul 22
Second quarter 2025 earnings: EPS and revenues exceed analyst expectations Second quarter 2025 results: EPS: US$0.92 (up from US$0.75 in 2Q 2024). Revenue: US$20.9m (up 11% from 2Q 2024). Net income: US$5.98m (up 22% from 2Q 2024). Profit margin: 29% (up from 26% in 2Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 2.5%. Earnings per share (EPS) also surpassed analyst estimates by 9.5%. Revenue is forecast to grow 8.0% p.a. on average during the next 2 years, compared to a 7.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 7% per year but the company’s share price has increased by 26% per year, which means it is well ahead of earnings. Upcoming Dividend • Jul 11
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 18 July 2025. Payment date: 01 August 2025. Payout ratio is a comfortable 25% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of American dividend payers (4.5%). In line with average of industry peers (2.5%). Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to US$33.24, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 107% over the past three years. Declared Dividend • Jun 23
First quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 18th July 2025 Payment date: 1st August 2025 Dividend yield will be 3.1%, which is about the same as the industry average. Sustainability & Growth The dividend has increased by an average of 14% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 7.4% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 19
First United Corporation Declares Cash Dividend for the Third Quarter of 2025, Payable on August 1, 2025 First United Corporation announced that its Board of Directors declared a cash dividend of $0.22 per share for the third quarter of 2025, that will be payable on August 1, 2025, to holders of record of the Corporation's common stock as of the close of business on July 18, 2025. Aankondiging • Apr 22
First United Corporation Reports Net Charge-Offs for the First Quarter Ended March 31, 2025 First United Corporation reported net charge-offs for the first quarter ended March 31, 2025. Net charge-offs of $0.4 million were recorded for the quarter ended March 31, 2025 compared to net charge-offs of $0.5 million for the quarter ended March 31, 2024. Reported Earnings • Apr 21
First quarter 2025 earnings: EPS and revenues exceed analyst expectations First quarter 2025 results: EPS: US$0.90 (up from US$0.56 in 1Q 2024). Revenue: US$20.3m (up 14% from 1Q 2024). Net income: US$5.81m (up 57% from 1Q 2024). Profit margin: 29% (up from 21% in 1Q 2024). The increase in margin was driven by higher revenue. Revenue exceeded analyst estimates by 1.6%. Earnings per share (EPS) also surpassed analyst estimates by 11%. Revenue is forecast to grow 9.0% p.a. on average during the next 2 years, compared to a 7.1% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Upcoming Dividend • Apr 10
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 17 April 2025. Payment date: 01 May 2025. Payout ratio is a comfortable 27% and this is well supported by cash flows. Trailing yield: 3.1%. Lower than top quartile of American dividend payers (4.9%). In line with average of industry peers (3.0%). Aankondiging • Mar 29
First United Corporation, Annual General Meeting, May 07, 2025 First United Corporation, Annual General Meeting, May 07, 2025. Location: the wisp hotel crawford room, 290 marsh hill road, mchenry, maryland 21541., United States Reported Earnings • Mar 23
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$3.15 (up from US$2.25 in FY 2023). Revenue: US$76.9m (up 10% from FY 2023). Net income: US$20.6m (up 37% from FY 2023). Profit margin: 27% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.38% (up from 3.26% in FY 2023). Non-performing loans: 0.39% (up from 0.32% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 7.3% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to US$29.82, the stock trades at a forward P/E ratio of 8x. Average forward P/E is 11x in the Banks industry in the US. Total returns to shareholders of 58% over the past three years. Declared Dividend • Mar 10
Fourth quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 17th April 2025 Payment date: 1st May 2025 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (27% payout ratio) and is expected to be well covered in 3 years' time (24% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 30% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Mar 06
First United Corporation Announces Second Quarter 2025 Dividend, Payable on May 1, 2025 First United Corporation announced that its Board of Directors declared a cash dividend of $0.22 per share that will be payable on May 1, 2025, to holders of record of the Corporation's common stock as of the close of business on April 17, 2025. Valuation Update With 7 Day Price Move • Feb 12
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to US$41.61, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 12x in the Banks industry in the US. Total returns to shareholders of 95% over the past three years. Price Target Changed • Feb 07
Price target increased by 62% to US$42.00 Up from US$26.00, the current price target is provided by 1 analyst. New target price is approximately in line with last closing price of US$40.10. Stock is up 82% over the past year. The company is forecast to post earnings per share of US$3.75 for next year compared to US$3.15 last year. Reported Earnings • Feb 06
Full year 2024 earnings: EPS exceeds analyst expectations Full year 2024 results: EPS: US$3.15 (up from US$2.25 in FY 2023). Revenue: US$76.9m (up 10% from FY 2023). Net income: US$20.6m (up 37% from FY 2023). Profit margin: 27% (up from 22% in FY 2023). The increase in margin was driven by higher revenue. Net interest margin (NIM): 3.38% (up from 3.26% in FY 2023). Non-performing loans: 0.39% (up from 0.32% in FY 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 2.9%. Revenue is forecast to grow 9.5% p.a. on average during the next 2 years, compared to a 7.4% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 17% per year, which means it is well ahead of earnings. Aankondiging • Feb 06
First United Corporation Reports Net Charge Off for the Fourth Quarter Ended December 31, 2024 First United Corporation reported net charge off for the fourth quarter ended December 31, 2024. For the quarter, the company reported net charge off of $362,000 against $195,000 a year ago. Upcoming Dividend • Jan 10
Upcoming dividend of US$0.22 per share Eligible shareholders must have bought the stock before 17 January 2025. Payment date: 03 February 2025. Payout ratio is a comfortable 33% and this is well supported by cash flows. Trailing yield: 2.7%. Lower than top quartile of American dividend payers (4.6%). In line with average of industry peers (2.6%). Declared Dividend • Nov 25
Third quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 17th January 2025 Payment date: 3rd February 2025 Dividend yield will be 2.4%, which is lower than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (33% payout ratio) and is expected to be well covered in 3 years' time (27% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 7 years and payments have been stable during that time. EPS is expected to grow by 33% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Nov 21
First United Corporation Announces First Quarter 2025 Dividend, Payable on February 3, 2025 First United Corporation announced that its Board of Directors declared a cash dividend of $0.22 per share that will be payable on February 3, 2025, to holders of record of the Corporation's common stock as of the close of business on January 17, 2025. Reported Earnings • Oct 21
Third quarter 2024 earnings: EPS exceeds analyst expectations Third quarter 2024 results: EPS: US$0.89 (up from US$0.67 in 3Q 2023). Revenue: US$20.0m (up 7.5% from 3Q 2023). Net income: US$5.77m (up 28% from 3Q 2023). Profit margin: 29% (up from 24% in 3Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 13%. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 6.6% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 10% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Declared Dividend • Sep 30
Second quarter dividend of US$0.22 announced Shareholders will receive a dividend of US$0.22. Ex-date: 18th October 2024 Payment date: 1st November 2024 Dividend yield will be 2.7%, which is lower than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 14% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 27% over the next year, which should provide support to the dividend and adequate earnings cover. Recent Insider Transactions • Jul 28
Independent Director recently sold US$55k worth of stock On the 25th of July, Irvin Rudy sold around 2k shares on-market at roughly US$27.52 per share. This transaction amounted to 4.9% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of US$17k more than they bought in the last 12 months. Reported Earnings • Jul 23
Second quarter 2024 earnings: EPS and revenues exceed analyst expectations Second quarter 2024 results: EPS: US$0.75 (up from US$0.66 in 2Q 2023). Revenue: US$18.9m (up 2.9% from 2Q 2023). Net income: US$4.91m (up 11% from 2Q 2023). Profit margin: 26% (up from 24% in 2Q 2023). Revenue exceeded analyst estimates by 3.8%. Earnings per share (EPS) also surpassed analyst estimates by 14%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has fallen by 5% per year but the company’s share price has increased by 15% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Jul 17
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$24.07, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 12x in the Banks industry in the US. Total returns to shareholders of 55% over the past three years. Upcoming Dividend • Jul 11
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 18 July 2024. Payment date: 01 August 2024. Payout ratio is a comfortable 37% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (2.9%). Declared Dividend • Jun 23
First quarter dividend of US$0.20 announced Dividend of US$0.20 is the same as last year. Ex-date: 18th July 2024 Payment date: 1st August 2024 Dividend yield will be 4.1%, which is higher than the industry average of 3.2%. Sustainability & Growth The dividend has increased by an average of 14% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 21% over the next year, which should provide support to the dividend and adequate earnings cover. Aankondiging • Jun 20
First United Corporation Announces Cash Dividend for the Third Quarter of 2024, Payable on August 1, 2024 First United Corporation announced that its Board of Directors declared a cash dividend of $0.20 per share that will be payable on August 1, 2024, to holders of record of the Corporation's common stock as of July 18, 2024. Reported Earnings • Apr 24
First quarter 2024 earnings: EPS exceeds analyst expectations First quarter 2024 results: EPS: US$0.56 (down from US$0.66 in 1Q 2023). Revenue: US$17.7m (down 3.4% from 1Q 2023). Net income: US$3.70m (down 16% from 1Q 2023). Profit margin: 21% (down from 24% in 1Q 2023). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 22%. Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 2% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. Aankondiging • Apr 24
First United Corporation Reports Net Charge-Offs for the First Quarter Ended March 31, 2024 First United Corporation reported net charge-offs for the first quarter ended March 31, 2024. Net charge-offs of $0.5 million were recorded for the quarter ended March 31, 2024 compared to net charge-offs of $0.2 million for the quarter ended March 31, 2023. Upcoming Dividend • Apr 09
Upcoming dividend of US$0.20 per share Eligible shareholders must have bought the stock before 16 April 2024. Payment date: 01 May 2024. Payout ratio is a comfortable 35% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of American dividend payers (4.7%). Higher than average of industry peers (3.0%). Aankondiging • Mar 20
First United Corporation, Annual General Meeting, May 09, 2024 First United Corporation, Annual General Meeting, May 09, 2024, at 09:00 US Eastern Standard Time. Location: The Wisp Hotel – Crawford Room, 290 Marsh Hill Road, McHenry, Maryland 21541 Maryland United States Agenda: To consider vote on the election of the eleven nominees named in the Board’s Proxy Statement and accompanying form of Proxy to serve on the Board, each until the 2025 Annual Meeting of Shareholders and until his or her successor is duly elected and qualified; to discuss an amendment to the Corporation’s charter (the “Charter”) to reduce the votes required to approve certain shareholder actions, from two-thirds of all votes entitled to be cast on the matter to a majority of all votes entitled to be cast on the matter; to approve, by a non-binding advisory vote, the compensation paid to the Corporation’s named executive officers for 2023; to ratify the appointment of Crowe LLP as the Corporation’s independent registered public accounting firm for 2024; and to discuss other matters. Reported Earnings • Mar 19
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: US$2.25 (down from US$3.77 in FY 2022). Revenue: US$69.7m (down 8.6% from FY 2022). Net income: US$15.1m (down 40% from FY 2022). Profit margin: 22% (down from 33% in FY 2022). The decrease in margin was primarily driven by lower revenue. Net interest margin (NIM): 3.26% (down from 3.56% in FY 2022). Non-performing loans: 0.32% (up from 0.30% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.3%. Revenue is forecast to grow 10% p.a. on average during the next 2 years, compared to a 5.9% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 6% per year. Declared Dividend • Mar 10
Fourth quarter dividend of US$0.20 announced Dividend of US$0.20 is the same as last year. Ex-date: 16th April 2024 Payment date: 1st May 2024 Dividend yield will be 3.6%, which is higher than the industry average of 3.2%. Sustainability & Growth Dividend is well covered by earnings (35% payout ratio) and is expected to be well covered in 3 years' time (25% forecast payout ratio). The dividend has increased by an average of 14% per year over the past 6 years and payments have been stable during that time. EPS is expected to grow by 38% over the next 2 years, which should provide support to the dividend and adequate earnings cover. Aankondiging • Mar 07
First United Corporation Declares a Cash Dividend, Payable on May 1, 2024 First United Corporation announced that its Board of Directors declared a cash dividend of $0.20 per share that will be payable on May 1, 2024, to holders of record of the Corporation's common stock as of April 17, 2024. Reported Earnings • Feb 07
Full year 2023 earnings: EPS exceeds analyst expectations Full year 2023 results: EPS: US$2.25 (down from US$3.77 in FY 2022). Revenue: US$69.7m (down 8.7% from FY 2022). Net income: US$15.1m (down 40% from FY 2022). Profit margin: 22% (down from 33% in FY 2022). The decrease in margin was primarily driven by lower revenue. Net interest margin (NIM): 3.26% (down from 3.56% in FY 2022). Non-performing loans: 0.32% (up from 0.30% in FY 2022). Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 9.3%. Revenue is forecast to grow 6.4% p.a. on average during the next 2 years, compared to a 5.7% growth forecast for the Banks industry in the US. Over the last 3 years on average, earnings per share has increased by 11% per year whereas the company’s share price has increased by 10% per year. Aankondiging • Feb 06
First United Corporation Reports Net Charge Off for the Fourth Quarter Ended December 31, 2023 First United Corporation reported net charge off for the fourth quarter ended December 31, 2023. For the quarter, the company reported net charge off of $195,000 against $164,000 a year ago. Upcoming Dividend • Jan 10
Upcoming dividend of US$0.20 per share at 3.6% yield Eligible shareholders must have bought the stock before 17 January 2024. Payment date: 01 February 2024. Payout ratio is a comfortable 24% and this is well supported by cash flows. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.6%). Higher than average of industry peers (3.2%). Valuation Update With 7 Day Price Move • Dec 05
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$21.06, the stock trades at a forward P/E ratio of 9x. Average forward P/E is 10x in the Banks industry in the US. Total returns to shareholders of 43% over the past three years. Aankondiging • Nov 30
First United Corporation Announces First Quarter 2024 Dividend, Payable on February 1, 2024 First United Corporation announced that its Board of Directors declared a cash dividend of $0.20 per share that will be payable on February 1, 2024, to holders of record of the Corporation's common stock as of January 18, 2024. Reported Earnings • Oct 26
Third quarter 2023 earnings: EPS exceeds analyst expectations Third quarter 2023 results: EPS: US$0.67 (down from US$1.04 in 3Q 2022). Revenue: US$18.6m (down 6.7% from 3Q 2022). Net income: US$4.51m (down 35% from 3Q 2022). Profit margin: 24% (down from 35% in 3Q 2022). The decrease in margin was primarily driven by higher expenses. Revenue was in line with analyst estimates. Earnings per share (EPS) surpassed analyst estimates by 6.3%. Revenue is expected to decline by 1.1% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 4.3%. Over the last 3 years on average, earnings per share has increased by 20% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Oct 10
Upcoming dividend of US$0.20 per share at 4.9% yield Eligible shareholders must have bought the stock before 17 October 2023. Payment date: 01 November 2023. Payout ratio is a comfortable 20% and this is well supported by cash flows. Trailing yield: 4.9%. Lower than top quartile of American dividend payers (5.2%). Higher than average of industry peers (3.9%). Aankondiging • Sep 28
First United Corporation Announces Fourth Quarter 2023 Dividend, Payable on November 1, 2023 First United Corporation announced that its Board of Directors declared a cash dividend of $0.20 per share that will be payable on November 1, 2023, to holders of record of the Corporation's common stock as of October 18, 2023. Reported Earnings • Jul 25
Second quarter 2023 earnings: EPS and revenues miss analyst expectations Second quarter 2023 results: EPS: US$0.66 (down from US$0.82 in 2Q 2022). Revenue: US$18.3m (up 3.2% from 2Q 2022). Net income: US$4.41m (down 19% from 2Q 2022). Profit margin: 24% (down from 31% in 2Q 2022). The decrease in margin was driven by higher expenses. Revenue missed analyst estimates by 1.4%. Earnings per share (EPS) also missed analyst estimates by 8.3%. Revenue is expected to decline by 2.2% p.a. on average during the next 2 years, while revenues in the Banks industry in the US are expected to grow by 4.4%. Over the last 3 years on average, earnings per share has increased by 27% per year but the company’s share price has only increased by 14% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jul 14
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to US$16.30, the stock trades at a forward P/E ratio of 6x. Average forward P/E is 9x in the Banks industry in the US. Total returns to shareholders of 60% over the past three years. Upcoming Dividend • Jul 10
Upcoming dividend of US$0.20 per share at 5.7% yield Eligible shareholders must have bought the stock before 17 July 2023. Payment date: 01 August 2023. Payout ratio is a comfortable 18% and this is well supported by cash flows. Trailing yield: 5.7%. Within top quartile of American dividend payers (5.0%). Higher than average of industry peers (3.6%). New Risk • Jul 07
New major risk - Revenue and earnings growth Earnings are forecast to decline by an average of 23% per year for the foreseeable future. This is considered a major risk. Ultimately, shareholders want to see a good return on their investment and that generally comes from sharing in the company's profits. If profits are expected to decline, then in most cases the share price will decline over time as well. In addition, if the company pays dividends it will also likely need to reduce or cut them, striking a dual blow to total shareholder returns. Currently, the following risks have been identified for the company: Major Risk Earnings are forecast to decline by an average of 23% per year for the foreseeable future. Minor Risks Unstable dividend paying track record with dividend experiencing an annual drop of over 20% in the past. Market cap is less than US$100m (US$91.6m market cap). Aankondiging • Jun 29
First United Corporation Announces Third Quarter 2023 Dividend, Payable on August 1, 2023 First United Corporation announced that its Board of Directors declared a cash dividend of $0.20 per share that will be payable on August 1, 2023, to holders of record of the Corporation's common stock as of July 18, 2023. Valuation Update With 7 Day Price Move • Jun 08
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to US$15.16, the stock trades at a trailing P/E ratio of 4.3x. Average trailing P/E is 8x in the Banks industry in the US. Total returns to shareholders of 16% over the past three years. Valuation Update With 7 Day Price Move • May 04
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$13.06, the stock trades at a trailing P/E ratio of 3.7x. Average trailing P/E is 8x in the Banks industry in the US. Negligible returns to shareholders over past three years. Upcoming Dividend • Apr 08
Upcoming dividend of US$0.20 per share at 4.8% yield Eligible shareholders must have bought the stock before 14 April 2023. Payment date: 01 May 2023. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 4.8%. Lower than top quartile of American dividend payers (4.9%). Higher than average of industry peers (3.7%). Reported Earnings • Mar 26
Full year 2022 earnings released: EPS: US$3.77 (vs US$2.95 in FY 2021) Full year 2022 results: EPS: US$3.77 (up from US$2.95 in FY 2021). Revenue: US$76.3m (up 4.9% from FY 2021). Net income: US$25.0m (up 27% from FY 2021). Profit margin: 33% (up from 27% in FY 2021). The increase in margin was primarily driven by higher revenue. Net interest margin (NIM): 3.56% (up from 3.28% in FY 2021). Non-performing loans: 0.30% (up from 0.24% in FY 2021). Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Feb 10
Full year 2022 earnings released: EPS: US$3.77 (vs US$2.95 in FY 2021) Full year 2022 results: EPS: US$3.77 (up from US$2.95 in FY 2021). Revenue: US$76.3m (up 5.0% from FY 2021). Net income: US$25.0m (up 27% from FY 2021). Profit margin: 33% (up from 27% in FY 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Aankondiging • Feb 10
First United Corporation Reports Net Charge-Offs for the Fourth Quarter Ended December 31, 2022 First United Corporation reported net charge-offs for the fourth quarter ended December 31, 2022. For the quarter, the company reported net charge-offs of $0.164 million compared to net charge-offs of $0.67 million for the quarter ended December 31, 2021. Upcoming Dividend • Jan 05
Upcoming dividend of US$0.18 per share Eligible shareholders must have bought the stock before 12 January 2023. Payment date: 01 February 2023. Payout ratio is a comfortable 16% and this is well supported by cash flows. Trailing yield: 3.7%. Lower than top quartile of American dividend payers (4.4%). Higher than average of industry peers (3.1%). Aankondiging • Dec 02
First United Corporation Declares Cash Dividend, Payable on February 1, 2023 First United Corporation announced that its Board of Directors declared a cash dividend of $0.18 per share that will be payable on February 1, 2023, to holders of record of the Corporation's common stock as of January 13, 2023. Reported Earnings • Oct 22
Third quarter 2022 earnings released: EPS: US$1.04 (vs US$0.66 in 3Q 2021) Third quarter 2022 results: EPS: US$1.04 (up from US$0.66 in 3Q 2021). Revenue: US$19.9m (up 6.0% from 3Q 2021). Net income: US$6.94m (up 58% from 3Q 2021). Profit margin: 35% (up from 23% in 3Q 2021). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Aankondiging • Oct 21
First United Corporation Reports Net Charge-Offs of for the Third Quarter Ended September 30, 2022 First United Corporation reported net charge-offs of for the third quarter ended September 30, 2022. For the quarter, the company reported net charge-offs of $89,000 were recorded for the quarter ended September 30, 2022, compared to net recoveries of $0.4 million for 2021. Upcoming Dividend • Oct 10
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 17 October 2022. Payment date: 01 November 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 3.5%. Lower than top quartile of American dividend payers (4.7%). In line with average of industry peers (3.4%). Aankondiging • Sep 29
First United Corporation Announces Fourth Quarter Dividend of 2022, Payable on November 1, 2022 First United Corporation announced that its Board of Directors declared a cash dividend of $0.15 per share that will be payable on November 1, 2022, to holders of record of the Corporation's common stock as of October 18, 2022. Aankondiging • Jul 27
First United Corporation Announces Net Charge-Offs for the Second Quarter Ended June 30, 2022 First United Corporation announced net charge-offs for the second quarter ended June 30, 2022. Net charge-offs of $179,000 were recorded for the second quarter ended June 30, 2022, compared to net charge offs of $67,000 for 2021. Reported Earnings • Jul 26
Second quarter 2022 earnings released: EPS: US$0.82 (vs US$0.67 in 2Q 2021) Second quarter 2022 results: EPS: US$0.82 (up from US$0.67 in 2Q 2021). Revenue: US$17.8m (up 4.7% from 2Q 2021). Net income: US$5.43m (up 23% from 2Q 2021). Profit margin: 31% (up from 26% in 2Q 2021). The increase in margin was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Upcoming Dividend • Jul 08
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 15 July 2022. Payment date: 01 August 2022. Payout ratio is a comfortable 17% and this is well supported by cash flows. Trailing yield: 3.3%. Lower than top quartile of American dividend payers (4.3%). In line with average of industry peers (3.2%). Aankondiging • Jun 30
First United Corporation Announces Third Quarter Dividend of 2022, Payable on August 1, 2022 First United Corporation announced that its Board of Directors declared a cash dividend of $0.15 per share that will be payable on August 1, 2022, to holders of record of the Corporation's common stock as of July 18, 2022.