First Busey Co. (NASDAQ:BUSE) Raises Dividend to $0.23 Per Share


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First Busey Co. (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, January 12th, Zacks reports. Stockholders of record on Friday, January 22nd will be paid a dividend of 0.23 per share by the bank on Friday, January 29th. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.96%. The ex-dividend date of this dividend is Thursday, January 21st. This is a positive change from First Busey’s previous quarterly dividend of $0.22.

First Busey has raised its dividend payment by 22.2% over the last three years.

Shares of First Busey stock opened at $23.21 on Thursday. The stock has a market cap of $1.27 billion, a price-to-earnings ratio of 12.68 and a beta of 1.13. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.85 and a current ratio of 0.86. The stock has a 50 day moving average price of $21.60 and a 200-day moving average price of $18.75. First Busey has a one year low of $11.00 and a one year high of $27.76.

First Busey (NASDAQ:BUSE) last announced its earnings results on Sunday, November 1st. The bank reported $0.56 EPS for the quarter, topping the Zacks’ consensus estimate of $0.41 by $0.15. First Busey had a return on equity of 8.62% and a net margin of 22.18%. The firm had revenue of $102.04 million during the quarter, compared to analysts’ expectations of $99.48 million. Sell-side analysts predict that First Busey will post 1.93 earnings per share for the current fiscal year.

Several brokerages recently commented on BUSE. TheStreet upgraded First Busey from a “c+” rating to a “b-” rating in a research report on Friday, November 13th. Zacks Investment Research downgraded shares of First Busey from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 29th. B. Riley upped their price objective on shares of First Busey from $24.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, January 7th. ValuEngine downgraded shares of First Busey from a “hold” rating to a “sell” rating in a research note on Tuesday, January 5th. Finally, BidaskClub downgraded shares of First Busey from a “strong-buy” rating to a “buy” rating in a research note on Wednesday, December 23rd. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.33.

About First Busey

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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Dividend History for First Busey (NASDAQ:BUSE)

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