First Busey Corporation (NASDAQ:BUSE) Raises Dividend to $0.26 Per Share

First Busey Corporation (NASDAQ:BUSE) declared a quarterly dividend on Tuesday, January 13th. Stockholders of record on Friday, January 23rd will be given a dividend of 0.26 per share by the bank on Friday, January 30th. This represents a c) dividend on an annualized basis and a dividend yield of 4.3%. The ex-dividend date is Friday, January 23rd. This is a 4.0% increase from First Busey’s previous quarterly dividend of $0.25.

First Busey has decreased its dividend payment by an average of 0.0%annually over the last three years and has raised its dividend annually for the last 10 consecutive years. First Busey has a dividend payout ratio of 36.6% indicating that its dividend is sufficiently covered by earnings. Research analysts expect First Busey to earn $2.82 per share next year, which means the company should continue to be able to cover its $1.00 annual dividend with an expected future payout ratio of 35.5%.

First Busey Trading Up 1.9%

BUSE stock traded up $0.46 during midday trading on Wednesday, reaching $24.16. 292,743 shares of the company’s stock traded hands, compared to its average volume of 426,828. The business has a 50-day moving average price of $23.89 and a two-hundred day moving average price of $23.71. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. First Busey has a fifty-two week low of $18.40 and a fifty-two week high of $25.62. The company has a market capitalization of $2.14 billion, a P/E ratio of 21.00 and a beta of 0.79.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, October 28th. The bank reported $0.64 EPS for the quarter, beating the consensus estimate of $0.62 by $0.02. First Busey had a return on equity of 9.05% and a net margin of 11.00%.The company had revenue of $197.46 million for the quarter, compared to analyst estimates of $196.07 million. Equities research analysts forecast that First Busey will post 2.61 EPS for the current fiscal year.

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.