First Busey Co. (NASDAQ:BUSE) announced a quarterly dividend on Tuesday, July 9th, Zacks reports. Shareholders of record on Friday, July 19th will be paid a dividend of 0.21 per share by the bank on Friday, July 26th. This represents a $0.84 annualized dividend and a yield of 3.23%. The ex-dividend date is Thursday, July 18th.
First Busey has increased its dividend payment by an average of 8.9% per year over the last three years and has increased 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. Equities analysts expect First Busey to earn $2.34 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 35.9%.
Shares of NASDAQ BUSE opened at $25.99 on Wednesday. The company’s 50 day moving average price is $25.75. First Busey has a 52-week low of $23.13 and a 52-week high of $32.89. The firm has a market capitalization of $1.45 billion, a PE ratio of 12.38, a P/E/G ratio of 2.04 and a beta of 0.99. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.85 and a quick ratio of 0.85.
First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The company had revenue of $94.33 million for the quarter, compared to analyst estimates of $96.24 million. First Busey had a return on equity of 10.23% and a net margin of 25.94%. As a group, research analysts anticipate that First Busey will post 2.12 EPS for the current fiscal year.
A number of equities analysts have issued reports on the company. Zacks Investment Research lowered General Finance from a “buy” rating to a “hold” rating in a research note on Monday. Stephens assumed coverage on LiqTech International in a research note on Tuesday, July 9th. They set an “overweight” rating and a $13.00 price target for the company. BidaskClub lowered Weyco Group from a “sell” rating to a “strong sell” rating in a research note on Saturday. Finally, B. Riley reiterated a “neutral” rating on shares of New York Community Bancorp in a research report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $30.50.
In other First Busey news, Director Stephen V. King purchased 48,910 shares of the stock in a transaction dated Monday, May 6th. The shares were bought at an average cost of $26.83 per share, with a total value of $1,312,255.30. Following the completion of the transaction, the director now owns 7,357 shares in the company, valued at approximately $197,388.31. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley J. Bradshaw bought 1,183 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $24.95 per share, for a total transaction of $29,515.85. Following the completion of the transaction, the director now owns 4,195 shares of the company’s stock, valued at $104,665.25. The disclosure for this purchase can be found here. Insiders have acquired 69,955 shares of company stock worth $1,859,546 over the last three months. Company insiders own 7.50% of the company’s stock.
About First Busey
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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