First Busey Corporation (NASDAQ:BUSE) Stock to Pay Quarterly Dividend of $0.26

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

First Busey has a dividend payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Research 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 Price Performance

First Busey stock traded down $0.14 during midday trading on Wednesday, reaching $28.99. The company’s stock had a trading volume of 340,091 shares, compared to its average volume of 707,811. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. First Busey has a fifty-two week low of $22.00 and a fifty-two week high of $31.70. The firm has a market capitalization of $2.39 billion, a PE ratio of 11.98 and a beta of 0.75. The stock’s 50 day simple moving average is $30.19 and its 200 day simple moving average is $28.64.

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

Insiders Place Their Bets

In other First Busey news, Director Michael Cassens sold 1,441 shares of the firm’s stock in a transaction dated Tuesday, September 15th. The shares were sold at an average price of $30.45, for a total transaction of $43,878.45. Following the completion of the transaction, the director directly owned 130,012 shares in the company, valued at approximately $3,958,865.40. This trade represents a 1.10% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Company insiders own 3.77% of the company’s stock.

Institutional Trading of First Busey

Large investors have recently modified their holdings of the business. Allworth Financial LP lifted its holdings in First Busey by 61.4% in the 2nd quarter. Allworth Financial LP now owns 881 shares of the bank’s stock valued at $26,000 after purchasing an additional 335 shares in the last quarter. Public Employees Retirement System of Ohio purchased a new stake in shares of First Busey during the second quarter worth about $29,000. Integrated Wealth Concepts LLC purchased a new stake in shares of First Busey during the second quarter worth about $34,000. Compass Financial Management LLC purchased a new stake in shares of First Busey during the second quarter worth about $45,000. Finally, Fifth Third Bancorp acquired a new position in shares of First Busey in the first quarter valued at approximately $124,000. 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.