First Busey Co. (NASDAQ:BUSE) announced a quarterly dividend on Tuesday, October 8th, Zacks reports. Shareholders of record on Friday, October 18th will be paid a dividend of 0.21 per share by the bank on Friday, October 25th. This represents a $0.84 annualized dividend and a yield of 3.41%. The ex-dividend date is Thursday, October 17th.

First Busey has raised its dividend payment by an average of 8.9% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. First Busey has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Analysts expect First Busey to earn $2.15 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 39.1%.

Shares of BUSE stock opened at $24.62 on Thursday. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The business has a 50-day moving average price of $25.03 and a two-hundred day moving average price of $25.48. First Busey has a 12-month low of $23.13 and a 12-month high of $31.24. The firm has a market cap of $1.37 billion, a P/E ratio of 11.73, a price-to-earnings-growth ratio of 1.99 and a beta of 1.01.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.52 by $0.01. First Busey had a return on equity of 10.01% and a net margin of 24.14%. The firm had revenue of $101.32 million during the quarter, compared to analyst estimates of $102.67 million. As a group, research analysts expect that First Busey will post 2.07 EPS for the current fiscal year.

Several equities research analysts have issued reports on BUSE shares. ValuEngine raised First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. B. Riley lowered their target price on First Busey from $28.00 to $27.00 and set a “neutral” rating for the company in a research note on Friday, October 4th. BidaskClub lowered First Busey from a “hold” rating to a “sell” rating in a research note on Tuesday. Stephens lowered First Busey from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $30.00 to $29.00 in a research note on Tuesday, July 9th. Finally, Zacks Investment Research lowered First Busey from a “hold” rating to a “sell” rating in a research note on Monday. Two equities research analysts have rated the stock with a sell rating and four have assigned a hold rating to the company. First Busey has a consensus rating of “Hold” and a consensus target price of $29.00.

In related news, Director David J. Downey bought 7,500 shares of the stock in a transaction dated Tuesday, August 27th. The stock was bought at an average price of $24.06 per share, with a total value of $180,450.00. Following the purchase, the director now owns 189,949 shares in the company, valued at approximately $4,570,172.94. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 7.50% of the company’s stock.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.

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Dividend History for First Busey (NASDAQ:BUSE)

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