First Busey (NASDAQ:BUSE) Announces Quarterly Earnings Results

First Busey (NASDAQ:BUSE) announced its earnings results on Tuesday. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01, Zacks reports. First Busey had a net margin of 16.94% and a return on equity of 8.94%.

First Busey Trading Down 0.3 %

NASDAQ BUSE opened at $23.45 on Wednesday. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. First Busey has a 1-year low of $21.59 and a 1-year high of $28.97. The firm’s fifty day simple moving average is $24.69 and its 200-day simple moving average is $25.54. The company has a market capitalization of $1.33 billion, a PE ratio of 12.09 and a beta of 0.88.

First Busey Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Shareholders of record on Friday, January 24th will be paid a dividend of $0.25 per share. The ex-dividend date of this dividend is Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.26%. This is a positive change from First Busey’s previous quarterly dividend of $0.24. First Busey’s dividend payout ratio (DPR) is 49.48%.

Wall Street Analyst Weigh In

Several brokerages recently commented on BUSE. Stephens downgraded shares of First Busey from an “overweight” rating to an “equal weight” rating and reduced their price target for the company from $28.00 to $27.00 in a research report on Monday, October 14th. Keefe, Bruyette & Woods increased their target price on First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th.

First Busey Company Profile

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.