First Busey Co. (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, October 9th, NASDAQ reports. Investors of record on Friday, October 19th will be paid a dividend of 0.20 per share by the bank on Friday, October 26th. This represents a $0.80 annualized dividend and a yield of 2.75%. The ex-dividend date is Thursday, October 18th.
First Busey has raised its dividend payment by an average of 8.1% annually over the last three years and has raised its dividend annually for the last 4 consecutive years. First Busey has a payout ratio of 37.4% indicating that its dividend is sufficiently covered by earnings. Research 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%.
Shares of NASDAQ BUSE opened at $29.12 on Friday. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.51 billion, a P/E ratio of 18.41, a P/E/G 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 released its quarterly earnings data on Tuesday, July 24th. The bank reported $0.51 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.53 by ($0.02). The business had revenue of $83.17 million during the quarter, compared to the consensus estimate of $84.85 million. First Busey had a net margin of 21.51% and a return on equity of 9.97%. As a group, equities research analysts anticipate that First Busey will post 2.14 EPS for the current year.
A number of equities analysts have recently weighed in on BUSE shares. BidaskClub upgraded First Busey from a “hold” rating to a “buy” rating in a research note on Thursday, June 21st. B. Riley increased their target price on First Busey from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, June 19th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, FIG Partners reiterated an “outperform” rating on shares of First Busey in a research note on Wednesday, July 25th. Five analysts have rated the stock with a hold rating and three have issued a buy rating to the company. The stock currently has an average 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.
See Also: Book Value Per Share – BVPS
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