First Busey Co. (NASDAQ:BUSE) announced a quarterly dividend on Tuesday, October 13th, Zacks reports. Shareholders of record on Friday, October 23rd will be paid a dividend of 0.22 per share by the bank on Friday, October 30th. This represents a $0.88 dividend on an annualized basis and a yield of 4.91%. The ex-dividend date is Thursday, October 22nd.
First Busey has increased its dividend by 23.5% over the last three years and has increased its dividend every year for the last 1 years. First Busey has a payout ratio of 55.0% meaning its dividend is sufficiently covered by earnings. Analysts expect First Busey to earn $1.46 per share next year, which means the company should continue to be able to cover its $0.88 annual dividend with an expected future payout ratio of 60.3%.
Shares of First Busey stock opened at $17.91 on Wednesday. The firm has a market cap of $976.38 million, a PE ratio of 10.41 and a beta of 1.17. First Busey has a 12-month low of $11.00 and a 12-month high of $28.00. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The company’s fifty day simple moving average is $16.98 and its two-hundred day simple moving average is $17.35.
In other news, Director Stephen V. King acquired 27,058 shares of First Busey stock in a transaction on Friday, August 14th. The stock was acquired at an average cost of $18.44 per share, for a total transaction of $498,949.52. Following the purchase, the director now owns 12,936 shares in the company, valued at $238,539.84. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Stanley J. Bradshaw acquired 2,100 shares of First Busey stock in a transaction on Friday, July 31st. The shares were purchased at an average price of $16.80 per share, with a total value of $35,280.00. Following the completion of the purchase, the director now owns 9,491 shares in the company, valued at approximately $159,448.80. The disclosure for this purchase can be found here. Over the last three months, insiders have purchased 30,358 shares of company stock valued at $554,030. 7.50% of the stock is currently owned by corporate insiders.
BUSE has been the topic of a number of recent analyst reports. ValuEngine lowered shares of First Busey from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Raymond James reaffirmed a “hold” rating on shares of First Busey in a research report on Friday, August 14th. Zacks Investment Research raised shares of First Busey from a “sell” rating to a “hold” rating in a research report on Monday, October 12th. Finally, BidaskClub cut shares of First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday, September 15th. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.50.
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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