First Busey Co. (NASDAQ:BUSE) announced a quarterly dividend on Tuesday, July 9th, Zacks reports. Shareholders of record on Friday, July 19th will be given a dividend of 0.21 per share by the bank on Friday, July 26th. This represents a $0.84 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend is Thursday, July 18th.
First Busey has raised its dividend payment by an average of 8.9% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. First Busey has a dividend payout ratio of 39.3% meaning its dividend is sufficiently covered by earnings. Research analysts expect First Busey to earn $2.34 per share next year, which means the company should continue to be able to cover its $0.84 annual dividend with an expected future payout ratio of 35.9%.
BUSE opened at $26.04 on Tuesday. The firm’s 50 day moving average is $25.73. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.48 billion, a P/E ratio of 12.63, a PEG ratio of 2.08 and a beta of 1.00. First Busey has a 52 week low of $23.13 and a 52 week high of $32.89.
BUSE has been the topic of a number of research reports. Stephens initiated coverage on LiqTech International in a report on Tuesday, July 9th. They issued an “overweight” rating and a $13.00 price target on the stock. B. Riley restated a “neutral” rating on shares of New York Community Bancorp in a report on Wednesday, April 10th. BidaskClub cut Weyco Group from a “sell” rating to a “strong sell” rating in a report on Saturday. Finally, Zacks Investment Research cut General Finance from a “buy” rating to a “hold” rating in a report on Monday. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and two have issued a buy rating to the stock. First Busey presently has an average rating of “Hold” and an average price target of $30.50.
In related news, Director Stanley J. Bradshaw bought 3,680 shares of the stock in a transaction on Friday, April 26th. The shares were purchased at an average price of $25.69 per share, for a total transaction of $94,539.20. Following the acquisition, the director now owns 4,195 shares in the company, valued at $107,769.55. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen V. King bought 48,910 shares of the stock in a transaction on Monday, May 6th. The shares were bought at an average price of $26.83 per share, for a total transaction of $1,312,255.30. Following the acquisition, the director now owns 7,357 shares in the company, valued at approximately $197,388.31. The disclosure for this purchase can be found here. In the last quarter, insiders have acquired 69,955 shares of company stock worth $1,859,546. 7.50% of the stock is owned by insiders.
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.
Further Reading: Ex-Dividend
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