First Busey Corporation (BUSE) to Distribute Quarterly Dividend of $0.26 on October 30th

First Busey Corporation (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, October 13th. Shareholders of record on Friday, October 23rd will be paid a dividend of $0.26 per share by the bank on Friday, October 30th. This represents a $1.04 annualized dividend and a yield of 3.6%. The ex-dividend date of this dividend is Friday, October 23rd.

First Busey has a payout ratio of 38.1% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Busey to earn $2.74 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 38.0%.

First Busey Trading Down 0.6%

NASDAQ BUSE opened at $28.95 on Thursday. The business’s 50-day moving average price is $30.14 and its two-hundred day moving average price is $28.66. First Busey has a 12 month low of $22.00 and a 12 month high of $31.70. The firm has a market capitalization of $2.39 billion, a PE ratio of 11.96 and a beta of 0.75. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. First Busey had a return on equity of 10.48% and a net margin of 21.00%. The company had revenue of $194.27 million during the quarter, compared to analysts’ expectations of $197.59 million. On average, analysts expect that First Busey will post 2.68 EPS for the current year.

Insider Buying and Selling at First Busey

In related news, Director Michael Cassens sold 1,441 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $30.45, for a total transaction of $43,878.45. Following the transaction, the director owned 130,012 shares in the company, valued at $3,958,865.40. The trade was a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Busey

A number of large investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its holdings in First Busey by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,067,210 shares of the bank’s stock worth $128,046,000 after acquiring an additional 194,343 shares in the last quarter. Bank of New York Mellon Corp acquired a new stake in First Busey in the second quarter valued at approximately $32,712,000. Bridgeway Capital Management LLC increased its holdings in shares of First Busey by 5.4% during the fourth quarter. Bridgeway Capital Management LLC now owns 632,898 shares of the bank’s stock valued at $15,057,000 after acquiring an additional 32,308 shares in the last quarter. Rhino Investment Partners Inc increased its holdings in shares of First Busey by 101.3% during the first quarter. Rhino Investment Partners Inc now owns 492,113 shares of the bank’s stock valued at $12,436,000 after acquiring an additional 247,589 shares in the last quarter. Finally, Empowered Funds LLC increased its holdings in shares of First Busey by 16.0% during the first quarter. Empowered Funds LLC now owns 475,547 shares of the bank’s stock valued at $12,017,000 after acquiring an additional 65,745 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors and hedge funds.

First Busey Company Profile

First Busey Corporation is a financial holding company headquartered in Champaign, Illinois. Its principal subsidiary, Busey Bank, provides banking and financial services to individuals, families, businesses, institutions and municipalities.

Busey Bank offers consumer and commercial deposit accounts, residential and commercial real estate lending, business loans, treasury management, trust services and other financial solutions. Through Busey Wealth Management, the company also provides investment management, financial planning, private banking and fiduciary services.