First Busey Co. (BUSE) To Go Ex-Dividend on October 21st

First Busey Co. (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, October 12th, Zacks reports. Stockholders of record on Friday, October 22nd will be given a dividend of 0.23 per share by the bank on Friday, October 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.67%. The ex-dividend date is Thursday, October 21st.

First Busey has increased its dividend payment by 22.2% over the last three years and has increased its dividend every year for the last 5 years. First Busey has a payout ratio of 40.6% meaning its dividend is sufficiently covered by earnings. Equities research analysts expect First Busey to earn $2.05 per share next year, which means the company should continue to be able to cover its $0.91 annual dividend with an expected future payout ratio of 44.4%.

Shares of First Busey stock opened at $25.06 on Thursday. The company has a market capitalization of $1.41 billion, a PE ratio of 10.90 and a beta of 1.09. First Busey has a 12 month low of $16.62 and a 12 month high of $27.61. The company has a current ratio of 0.76, a quick ratio of 0.76 and a debt-to-equity ratio of 0.26. The stock’s fifty day simple moving average is $23.97 and its 200 day simple moving average is $24.74.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Monday, July 26th. The bank reported $0.55 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.56 by ($0.01). First Busey had a return on equity of 10.67% and a net margin of 29.33%. The business had revenue of $97.55 million for the quarter, compared to analyst estimates of $98.85 million. Analysts predict that First Busey will post 2.29 EPS for the current fiscal year.

BUSE has been the topic of several recent research reports. B. Riley dropped their price target on First Busey from $29.00 to $27.00 and set a “neutral” rating on the stock in a research note on Tuesday, August 3rd. Zacks Investment Research cut First Busey from a “buy” rating to a “hold” rating in a report on Friday, July 30th.

An institutional investor recently raised its position in First Busey stock. Morgan Stanley raised its position in shares of First Busey Co. (NASDAQ:BUSE) by 141.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 53,037 shares of the bank’s stock after acquiring an additional 31,069 shares during the period. Morgan Stanley owned approximately 0.09% of First Busey worth $1,307,000 at the end of the most recent quarter. Institutional investors and hedge funds own 46.55% of the company’s stock.

First Busey Company Profile

First Busey Corp. is a bank holding company, which engages in the provision of financial services through its wholly-owned bank subsidiary. It operates through the following segments: Banking, Remittance Processing, and Wealth Management. The Banking segment offers a range of banking services to individual and corporate customers through its banking center network.

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Dividend History for First Busey (NASDAQ:BUSE)

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