First Busey Co. Plans Quarterly Dividend of $0.20 (BUSE)

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First Busey Co. (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, October 9th, NASDAQ reports. Shareholders of record on Friday, October 19th will be given a dividend of 0.20 per share by the bank on Friday, October 26th. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, October 18th.

First Busey has increased its dividend by an average of 8.1% per year over the last three years and has increased its dividend annually for the last 4 consecutive years. First Busey has a dividend payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. Equities analysts expect First Busey to earn $2.28 per share next year, which means the company should continue to be able to cover its $0.80 annual dividend with an expected future payout ratio of 35.1%.

First Busey stock opened at $29.12 on Friday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The firm has a market capitalization of $1.51 billion, a price-to-earnings ratio of 18.41, a price-to-earnings-growth ratio of 2.42 and a beta of 0.97. First Busey has a 52 week low of $28.34 and a 52 week high of $33.25.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, July 24th. The bank reported $0.51 EPS for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). The business had revenue of $83.17 million during the quarter, compared to analyst estimates of $84.85 million. First Busey had a return on equity of 9.97% and a net margin of 21.51%. Research analysts anticipate that First Busey will post 2.14 earnings per share for the current year.

A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded First Busey from a “buy” rating to a “hold” rating in a research report on Saturday, June 30th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a research report on Wednesday, October 3rd. B. Riley boosted their target price on First Busey from $35.00 to $36.00 and gave the stock a “buy” rating in a research report on Tuesday, June 19th. Finally, FIG Partners restated an “outperform” rating on shares of First Busey in a research report on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $33.80.

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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