First Busey Co. Announces Quarterly Dividend of $0.20 (BUSE)
First Busey Co. (NASDAQ:BUSE) announced a quarterly dividend on Tuesday, October 9th, NASDAQ reports. Investors of record on Friday, October 19th will be given a dividend of 0.20 per share by the bank on Friday, October 26th. This represents a $0.80 dividend on an annualized basis and a yield of 2.75%. The ex-dividend date of this dividend is Thursday, October 18th.
First Busey has increased its dividend by an average of 8.1% annually over the last three years and has raised its dividend every year for the last 4 years. First Busey has a payout ratio of 37.4% meaning its dividend is sufficiently covered by earnings. 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%.
NASDAQ BUSE opened at $29.12 on Friday. First Busey has a 52-week low of $28.34 and a 52-week high of $33.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market cap of $1.51 billion, a P/E ratio of 18.09, a price-to-earnings-growth ratio of 2.42 and a beta of 0.97.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of First Busey from a “sell” rating to a “hold” rating in a research note on Thursday. Zacks Investment Research raised shares of First Busey from a “sell” rating to a “hold” rating in a research note on Wednesday, October 3rd. FIG Partners reaffirmed an “outperform” rating on shares of First Busey in a research note on Wednesday, July 25th. Finally, B. Riley raised their price target on shares of First Busey from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, June 19th. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. First Busey has a consensus rating of “Hold” and a consensus target price 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.
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