The average one-year price target for First Busey (NASDAQ:BUSE) has been revised to 26.52 / share. This is an increase of 14.71% from the prior estimate of 23.12 dated November 26, 2023.
The price target is an average of many targets provided by analysts. The latest targets range from a low of 24.24 to a high of 28.35 / share. The average price target represents an increase of 8.78% from the latest reported closing price of 24.38 / share.
First Busey Declares $0.24 Dividend
On October 10, 2023 the company declared a regular quarterly dividend of $0.24 per share ($0.96 annualized). Shareholders of record as of October 20, 2023 received the payment on October 27, 2023. Previously, the company paid $0.24 per share.
At the current share price of $24.38 / share, the stock's dividend yield is 3.94%.
Looking back five years and taking a sample every week, the average dividend yield has been 3.98%, the lowest has been 3.05%, and the highest has been 6.12%. The standard deviation of yields is 0.70 (n=236).
The current dividend yield is 0.06 standard deviations below the historical average.
Additionally, the company's dividend payout ratio is 0.40. The payout ratio tells us how much of a company's income is paid out in dividends. A payout ratio of one (1.0) means 100% of the company's income is paid in a dividend. A payout ratio greater than one means the company is dipping into savings in order to maintain its dividend - not a healthy situation. Companies with few growth prospects are expected to pay out most of their income in dividends, which typically means a payout ratio between 0.5 and 1.0. Companies with good growth prospects are expected to retain some earnings in order to invest in those growth prospects, which translates to a payout ratio of zero to 0.5.
The company's 3-Year dividend growth rate is 0.09%, demonstrating that it has increased its dividend over time.
What is the Fund Sentiment?
There are 353 funds or institutions reporting positions in First Busey. This is an increase of 2 owner(s) or 0.57% in the last quarter. Average portfolio weight of all funds dedicated to BUSE is 0.10%, a decrease of 1.28%. Total shares owned by institutions increased in the last three months by 2.71% to 36,256K shares. 
The put/call ratio of BUSE is 0.00, indicating a bullish outlook.
What are Other Shareholders Doing?
Alliancebernstein holds 2,017K shares representing 3.65% ownership of the company. In it's prior filing, the firm reported owning 1,525K shares, representing an increase of 24.37%. The firm increased its portfolio allocation in BUSE by 12.87% over the last quarter.
VTSMX - Vanguard Total Stock Market Index Fund Investor Shares holds 1,657K shares representing 3.00% ownership of the company. No change in the last quarter.
Wellington Management Group Llp holds 1,495K shares representing 2.71% ownership of the company. In it's prior filing, the firm reported owning 1,576K shares, representing a decrease of 5.37%. The firm decreased its portfolio allocation in BUSE by 4.00% over the last quarter.
Plancorp holds 1,320K shares representing 2.39% ownership of the company. In it's prior filing, the firm reported owning 157K shares, representing an increase of 88.14%. The firm increased its portfolio allocation in BUSE by 699.77% over the last quarter.
Lsv Asset Management holds 1,315K shares representing 2.38% ownership of the company. In it's prior filing, the firm reported owning 1,327K shares, representing a decrease of 0.93%. The firm decreased its portfolio allocation in BUSE by 0.04% over the last quarter.
First Busey Background Information
(This description is provided by the company.)
Cummins-American Corp. is the holding company for Glenview State Bank, a privately held, locally owned and operated bank established in 1921 - currently with nearly 150 associates and seven branch locations in the Chicago-Naperville-Elgin, IL-IN-WI Metropolitan Statistical Area (MSA). Glenview State Bank is committed to personal service and honest solutions, by being actively involved in the communities it serves.
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