First Busey Co. (NASDAQ:BUSE) announced a quarterly dividend on Wednesday, April 10th, Fidelity reports. Stockholders of record on Friday, April 19th will be given a dividend of 0.21 per share by the bank on Friday, April 26th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.28%. The ex-dividend date of this dividend is Wednesday, April 17th.

First Busey has raised its dividend payment by an average of 8.9% per year over the last three years and has increased its dividend annually for the last 5 consecutive years. First Busey has a payout ratio of 39.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect First Busey to earn $2.42 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 34.7%.

BUSE opened at $25.61 on Thursday. The company has a market cap of $1.39 billion, a PE ratio of 12.20, a price-to-earnings-growth ratio of 1.86 and a beta of 1.01. The company has a current ratio of 0.90, a quick ratio of 0.89 and a debt-to-equity ratio of 0.22. First Busey has a twelve month low of $23.13 and a twelve month high of $33.25.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, January 29th. The bank reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). First Busey had a net margin of 26.31% and a return on equity of 10.70%. The business had revenue of $83.36 million for the quarter, compared to the consensus estimate of $84.54 million. As a group, analysts anticipate that First Busey will post 2.25 earnings per share for the current year.

BUSE has been the topic of several recent analyst reports. Stephens reissued a “buy” rating and set a $30.00 target price on shares of First Busey in a report on Wednesday, December 19th. BidaskClub cut First Busey from a “sell” rating to a “strong sell” rating in a report on Friday, December 21st. Finally, Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $29.00 target price on the stock in a report on Tuesday, January 15th. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have given a buy rating to the company’s stock. First Busey currently has an average rating of “Hold” and a consensus price target of $30.75.

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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.

Read More: Return on Investment (ROI)

Dividend History for First Busey (NASDAQ:BUSE)

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