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.
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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