First Busey (NASDAQ:BUSE) Posts Quarterly Earnings Results, Beats Estimates By $0.01 EPS

First Busey (NASDAQ:BUSE) issued its earnings results on Tuesday. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01, Zacks reports. First Busey had a net margin of 16.94% and a return on equity of 8.94%.

First Busey Trading Down 0.3 %

Shares of NASDAQ BUSE traded down $0.08 during midday trading on Tuesday, hitting $23.45. 591,070 shares of the company traded hands, compared to its average volume of 351,792. First Busey has a 12-month low of $21.59 and a 12-month high of $28.97. The firm has a market cap of $1.33 billion, a P/E ratio of 12.09 and a beta of 0.88. The stock has a 50-day moving average price of $24.75 and a 200 day moving average price of $25.56. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82.

First Busey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.26%. This is a boost from First Busey’s previous quarterly dividend of $0.24. The ex-dividend date is Friday, January 24th. First Busey’s dividend payout ratio (DPR) is currently 49.48%.

Analyst Ratings Changes

BUSE has been the subject of several recent research reports. Keefe, Bruyette & Woods boosted their price objective on First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th. Stephens cut shares of First Busey from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $28.00 to $27.00 in a research report on Monday, October 14th.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.