First Busey Corporation (NASDAQ:BUSE) Plans $0.25 Quarterly Dividend

First Busey Corporation (NASDAQ:BUSE - Get Free Report) announced a quarterly dividend on Tuesday, July 8th, RTT News reports. Shareholders of record on Friday, July 18th will be paid a dividend of 0.25 per share by the bank on Friday, July 25th. This represents a $1.00 dividend on an annualized basis and a yield of 4.12%. The ex-dividend date is Friday, July 18th.

First Busey has a payout ratio of 36.6% meaning its dividend is sufficiently covered by earnings. Equities 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 Price Performance

Shares of BUSE stock traded up $0.01 on Thursday, reaching $24.26. The company had a trading volume of 314,452 shares, compared to its average volume of 411,716. The stock has a market capitalization of $2.17 billion, a PE ratio of 22.67 and a beta of 0.77. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. First Busey has a one year low of $18.40 and a one year high of $28.97. The business's 50-day moving average is $22.60 and its 200 day moving average is $22.56.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. The firm had revenue of $140.72 million during the quarter, compared to analysts' expectations of $140.15 million. First Busey had a net margin of 8.32% and a return on equity of 8.46%. Equities research analysts forecast that First Busey will post 2.61 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

BUSE has been the subject of several analyst reports. Piper Sandler initiated coverage on shares of First Busey in a report on Tuesday, July 1st. They set an "overweight" rating and a $30.00 price target for the company. Raymond James Financial raised their price target on shares of First Busey from $25.00 to $27.00 and gave the stock an "outperform" rating in a report on Tuesday. Wall Street Zen upgraded shares of First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Hovde Group initiated coverage on shares of First Busey in a research report on Monday, June 30th. They set a "market perform" rating and a $25.00 price objective for the company. Finally, Stephens reaffirmed an "equal weight" rating and set a $26.00 price objective on shares of First Busey in a research report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat.com, First Busey presently has a consensus rating of "Hold" and an average price target of $27.67.

Insider Buying and Selling at First Busey

In related news, Director Steven W. Caple acquired 1,175 shares of the company's stock in a transaction on Friday, May 23rd. The shares were acquired at an average cost of $21.60 per share, for a total transaction of $25,380.00. Following the purchase, the director owned 4,509 shares in the company, valued at approximately $97,394.40. The trade was a 35.24% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Karen M. Jensen bought 5,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were acquired at an average price of $21.70 per share, for a total transaction of $119,350.00. Following the completion of the purchase, the director directly owned 72,068 shares in the company, valued at approximately $1,563,875.60. This trade represents a 8.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have acquired 13,125 shares of company stock worth $286,148. Company insiders own 3.85% of the company's stock.

Institutional Investors Weigh In On First Busey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Jane Street Group LLC increased its position in shares of First Busey by 1,659.8% in the first quarter. Jane Street Group LLC now owns 172,810 shares of the bank's stock worth $3,733,000 after purchasing an additional 162,990 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in First Busey by 78.4% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank's stock worth $4,796,000 after buying an additional 97,560 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in First Busey by 9.0% in the first quarter. Goldman Sachs Group Inc. now owns 469,310 shares of the bank's stock worth $10,137,000 after buying an additional 38,773 shares in the last quarter. AQR Capital Management LLC boosted its stake in First Busey by 16.8% in the first quarter. AQR Capital Management LLC now owns 198,945 shares of the bank's stock worth $4,297,000 after buying an additional 28,605 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of First Busey by 64.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank's stock valued at $1,074,000 after purchasing an additional 19,431 shares during the period. 56.49% of the stock is currently owned by institutional investors.

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.