First Busey Corp. Announces Quarterly Dividend of $0.17 (buse)
First Busey Corp. (NASDAQ:buse) declared a quarterly dividend on Wednesday, October 12th. Shareholders of record on Friday, October 21st will be paid a dividend of 0.17 per share on Friday, October 28th. This represents a $0.68 dividend on an annualized basis and a yield of 3.06%. The ex-dividend date of this dividend is Wednesday, October 19th.
First Busey Corp. (NASDAQ:BUSE) opened at 22.25 on Thursday. The firm’s 50-day moving average price is $22.94 and its 200-day moving average price is $21.95. First Busey Corp. has a one year low of $17.68 and a one year high of $24.02. The company has a market cap of $850.04 million, a PE ratio of 15.46 and a beta of 0.92.
First Busey Corp. (NASDAQ:BUSE) last released its earnings results on Thursday, July 28th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.02. First Busey Corp. had a net margin of 22.23% and a return on equity of 10.66%. On average, equities research analysts forecast that First Busey Corp. will post $1.52 earnings per share for the current fiscal year.
In other news, Director Stanley J. Bradshaw bought 1,603 shares of the stock in a transaction on Friday, July 29th. The stock was acquired at an average price of $22.97 per share, with a total value of $36,820.91. Following the acquisition, the director now directly owns 1,250 shares in the company, valued at $28,712.50. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 11.50% of the stock is owned by company insiders.
A number of institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of First Busey Corp. by 35.1% in the second quarter. Vanguard Group Inc. now owns 1,259,063 shares of the company’s stock worth $26,931,000 after buying an additional 327,130 shares during the last quarter. BlackRock Institutional Trust Company N.A. boosted its position in shares of First Busey Corp. by 3.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 954,306 shares of the company’s stock worth $20,413,000 after buying an additional 33,590 shares during the last quarter. BlackRock Fund Advisors boosted its position in shares of First Busey Corp. by 31.8% in the second quarter. BlackRock Fund Advisors now owns 804,479 shares of the company’s stock worth $17,208,000 after buying an additional 194,299 shares during the last quarter. Columbia Wanger Asset Management LLC boosted its position in shares of First Busey Corp. by 71.6% in the second quarter. Columbia Wanger Asset Management LLC now owns 603,813 shares of the company’s stock worth $12,916,000 after buying an additional 251,974 shares during the last quarter. Finally, State Street Corp boosted its position in shares of First Busey Corp. by 19.1% in the second quarter. State Street Corp now owns 471,734 shares of the company’s stock worth $10,091,000 after buying an additional 75,678 shares during the last quarter. 46.21% of the stock is owned by institutional investors and hedge funds.
A number of analysts have recently weighed in on BUSE shares. Keefe, Bruyette & Woods upped their target price on First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Zacks Investment Research raised First Busey Corp. from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a report on Tuesday, August 2nd. One research analyst has rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. First Busey Corp. currently has a consensus rating of “Hold” and a consensus price target of $22.83.
About First Busey Corp.
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.
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