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First Busey Corporation (NASDAQ:BUSE) announced Tuesday that its Board of Directors has declared a quarterly cash dividend of $0.25 per share on the company’s common stock. According to a press release statement, the dividend will be paid on July 25 to shareholders of record as of July 18. The dividend represents a 4.17% yield, reflecting the company’s 37-year track record of consistent dividend payments, according to InvestingPro data.
The announcement was made as part of a filing with the Securities and Exchange Commission. First Busey Corporation, a $2.18 billion market cap financial institution trading at 25.5 times earnings, is incorporated in Nevada and is listed on the Nasdaq Stock Market. InvestingPro analysis indicates the stock is currently trading above its Fair Value.
No additional details regarding the dividend or company operations were provided in the filing. For deeper insights into First Busey’s dividend sustainability and growth prospects, InvestingPro subscribers can access additional financial health metrics and expert analysis.
In other recent news, First Busey Corporation has announced its quarterly cash dividend of $0.25 per common share, scheduled for payment on April 25, 2025, to shareholders on record as of April 18, 2025. Additionally, the company has priced its public offering of 8 million depositary shares, each with an 8.25% annual dividend, aimed at raising funds for general corporate purposes and redeeming 5.25% Subordinated Notes due 2030. This offering is expected to close around May 20, 2025. Piper Sandler has maintained an Overweight rating on First Busey, with a price target of $26.00, following the closure of a $215 million preferred offering. The firm has adjusted its earnings per share estimates for 2025 and 2026, citing higher peer multiples.
In another development, Keefe, Bruyette & Woods reiterated their Outperform rating on First Busey, maintaining a $30 price target. This follows the bank’s recent share repurchase program amendment and redemption of $125 million in subordinated notes. Piper Sandler also initiated coverage on First Busey with an Overweight rating, highlighting potential growth from its CrossFirst Bancshares acquisition. The firm’s analysis points to First Busey’s proactive capital management and attractive valuation as key strengths. These recent developments provide investors with insights into First Busey’s strategic financial maneuvers and growth prospects.
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