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

First Busey Corporation (NASDAQ:BUSE) announced a quarterly dividend on Tuesday, July 14th. Shareholders of record on Friday, July 24th will be paid a dividend of 0.26 per share by the bank on Friday, July 31st. This represents a c) annualized dividend and a yield of 3.5%. The ex-dividend date is Friday, July 24th.

First Busey has raised its dividend by an average of 0.0%per year over the last three years and has increased its dividend every year for the last 10 years. First Busey has a payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Busey to earn $2.67 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 39.0%.

First Busey Stock Up 0.2%

Shares of BUSE stock traded up $0.06 during trading hours on Wednesday, reaching $29.37. 1,197,449 shares of the company’s stock were exchanged, compared to its average volume of 683,061. First Busey has a fifty-two week low of $21.63 and a fifty-two week high of $30.51. The stock’s 50 day moving average is $27.94 and its 200-day moving average is $26.31. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The company has a market cap of $2.48 billion, a price-to-earnings ratio of 13.05 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. First Busey had a return on equity of 10.19% and a net margin of 19.16%.The firm had revenue of $197.17 million during the quarter, compared to analysts’ expectations of $197.15 million. Analysts predict that First Busey will post 2.6 earnings per share for the current fiscal year.

First Busey Company Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.