First Busey Corporation (BUSE) To Go Ex-Dividend on July 24th

First Busey Corporation (NASDAQ:BUSE) announced a quarterly dividend on Tuesday, July 14th. Shareholders of record on Friday, July 24th will be paid a dividend of 0.26 per share by the bank on Friday, July 31st. This represents a c) dividend on an annualized basis and a yield of 3.5%. The ex-dividend date is Friday, July 24th.

First Busey has increased 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. Research analysts expect First Busey to earn $2.67 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 39.0%.

First Busey Stock Performance

Shares of NASDAQ:BUSE opened at $29.89 on Wednesday. The company has a market cap of $2.53 billion, a price-to-earnings ratio of 13.28 and a beta of 0.72. The company has a 50-day moving average price of $28.28 and a 200-day moving average price of $26.51. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. First Busey has a 12 month low of $21.63 and a 12 month high of $30.51.

First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. First Busey had a net margin of 19.16% and a return on equity of 10.19%. The company had revenue of $197.17 million during the quarter, compared to analyst estimates of $197.15 million. As a group, equities analysts anticipate that First Busey will post 2.6 EPS for the current year.

Insider Buying and Selling at First Busey

In other news, CAO Scott A. Phillips purchased 5,000 shares of First Busey stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average cost of $25.90 per share, with a total value of $129,500.00. Following the completion of the purchase, the chief accounting officer directly owned 8,350 shares in the company, valued at approximately $216,265. This trade represents a 149.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 3.77% of the stock is owned by corporate insiders.

Institutional Trading of First Busey

A number of hedge funds have recently modified their holdings of the business. Everhart Financial Group Inc. increased its stake in shares of First Busey by 11.8% in the 2nd quarter. Everhart Financial Group Inc. now owns 41,689 shares of the bank’s stock worth $1,230,000 after acquiring an additional 4,409 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its stake in First Busey by 6.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,972 shares of the bank’s stock worth $265,000 after acquiring an additional 571 shares in the last quarter. Lexington Hill Partners LLC purchased a new stake in First Busey in the second quarter worth about $335,000. Assenagon Asset Management S.A. grew its holdings in First Busey by 37.0% in the second quarter. Assenagon Asset Management S.A. now owns 94,464 shares of the bank’s stock worth $2,787,000 after purchasing an additional 25,490 shares during the period. Finally, Bank of America Corp DE increased its stake in shares of First Busey by 37.0% during the first quarter. Bank of America Corp DE now owns 169,641 shares of the bank’s stock valued at $4,287,000 after purchasing an additional 45,793 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.

About First Busey

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.