First Busey Corporation (BUSE) to Issue Quarterly Dividend of $0.26 on May 1st

First Busey Corporation (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, April 14th. Investors of record on Friday, April 24th will be paid a dividend of 0.26 per share by the bank on Friday, May 1st. This represents a c) annualized dividend and a yield of 4.0%. The ex-dividend date is Friday, April 24th.

First Busey has raised its dividend by an average of 0.0%annually over the last three years and has increased its dividend annually for the last 10 consecutive years. First Busey has a dividend payout ratio of 38.1% meaning its dividend is sufficiently covered by earnings. Analysts expect First Busey to earn $2.71 per share next year, which means the company should continue to be able to cover its $1.04 annual dividend with an expected future payout ratio of 38.4%.

First Busey Stock Performance

Shares of NASDAQ BUSE opened at $26.30 on Wednesday. The stock has a 50 day moving average price of $25.69 and a 200 day moving average price of $24.59. First Busey has a 52 week low of $19.91 and a 52 week high of $27.65. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $2.25 billion, a PE ratio of 20.39 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. First Busey had a return on equity of 9.46% and a net margin of 12.96%.The firm had revenue of $201.78 million during the quarter, compared to analysts’ expectations of $197.70 million. Analysts predict that First Busey will post 2.52 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on BUSE shares. Weiss Ratings raised First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. DA Davidson reissued a “neutral” rating and set a $27.00 price target on shares of First Busey in a research report on Thursday, January 29th. Stephens assumed coverage on First Busey in a research report on Friday, March 27th. They set an “equal weight” rating and a $27.00 price target for the company. Finally, Piper Sandler upped their price objective on First Busey from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, First Busey has an average rating of “Moderate Buy” and a consensus price target of $27.17.

First Busey Company Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.