First Busey Co. Plans Dividend of $0.23 (NASDAQ:BUSE)

First Busey Co. (NASDAQ:BUSEGet Rating) declared a dividend on Thursday, April 14th, investing.com reports. Investors of record on Friday, April 22nd will be given a dividend of 0.23 per share by the bank on Friday, April 29th. This represents a dividend yield of 3.79%. The ex-dividend date of this dividend is Thursday, April 21st.

First Busey has a payout ratio of 39.0% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Busey to earn $2.33 per share next year, which means the company should continue to be able to cover its $0.92 annual dividend with an expected future payout ratio of 39.5%.

First Busey stock opened at $24.26 on Thursday. The stock’s 50 day moving average is $26.65 and its 200 day moving average is $26.76. The company has a debt-to-equity ratio of 0.26, a current ratio of 0.72 and a quick ratio of 0.72. The firm has a market cap of $1.34 billion, a P/E ratio of 10.98 and a beta of 0.92. First Busey has a one year low of $21.00 and a one year high of $29.73.

First Busey (NASDAQ:BUSEGet Rating) last issued its quarterly earnings results on Tuesday, January 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.06. First Busey had a return on equity of 10.42% and a net margin of 28.60%. The firm had revenue of $105.60 million for the quarter, compared to analyst estimates of $104.47 million. During the same period in the previous year, the firm earned $0.62 earnings per share. Equities analysts anticipate that First Busey will post 2.09 earnings per share for the current fiscal year.

Several equities analysts have issued reports on the company. Raymond James raised First Busey from a “market perform” rating to an “outperform” rating and set a $31.00 price target on the stock in a research note on Monday, January 31st. B. Riley dropped their price target on First Busey from $30.00 to $27.00 in a research note on Tuesday. StockNews.com initiated coverage on First Busey in a research report on Thursday, March 31st. They set a “hold” rating on the stock. Finally, Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $28.00 target price on the stock in a research report on Tuesday, April 5th.

Several large investors have recently modified their holdings of BUSE. Morgan Stanley raised its position in shares of First Busey by 141.4% during the second quarter. Morgan Stanley now owns 53,037 shares of the bank’s stock worth $1,307,000 after purchasing an additional 31,069 shares during the period. Royal Bank of Canada grew its holdings in First Busey by 33.8% during the third quarter. Royal Bank of Canada now owns 9,403 shares of the bank’s stock worth $232,000 after buying an additional 2,374 shares in the last quarter. BNP Paribas Arbitrage SA grew its holdings in First Busey by 102.8% during the third quarter. BNP Paribas Arbitrage SA now owns 14,012 shares of the bank’s stock worth $345,000 after buying an additional 7,104 shares in the last quarter. Bank of New York Mellon Corp grew its holdings in First Busey by 2.1% during the third quarter. Bank of New York Mellon Corp now owns 401,624 shares of the bank’s stock worth $9,892,000 after buying an additional 8,113 shares in the last quarter. Finally, Citigroup Inc. grew its holdings in First Busey by 17.3% during the fourth quarter. Citigroup Inc. now owns 14,263 shares of the bank’s stock worth $387,000 after buying an additional 2,105 shares in the last quarter. 45.62% of the stock is currently owned by institutional investors.

First Busey Company Profile (Get Rating)

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 through three segments: Banking, FirsTech, and Wealth Management.

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Dividend History for First Busey (NASDAQ:BUSE)

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