First Busey (NASDAQ:BUSE) Director Sells $19,582.50 in Stock

by · The Cerbat Gem

First Busey Corporation (NASDAQ:BUSE – Get Free Report) Director Michael David Cassens sold 750 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $26.11, for a total transaction of $19,582.50. Following the completion of the sale, the director directly owned 140,392 shares in the company, valued at approximately $3,665,635.12. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael David Cassens also recently made the following trade(s):

  • On Wednesday, April 15th, Michael David Cassens sold 750 shares of First Busey stock. The stock was sold at an average price of $26.75, for a total transaction of $20,062.50.
  • On Tuesday, February 17th, Michael David Cassens sold 750 shares of First Busey stock. The stock was sold at an average price of $26.61, for a total transaction of $19,957.50.

First Busey Price Performance

Shares of First Busey stock traded up $0.39 on Monday, reaching $26.20. The stock had a trading volume of 544,450 shares, compared to its average volume of 615,333. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $25.77 and its two-hundred day moving average is $24.95. The company has a market cap of $2.22 billion, a P/E ratio of 11.64 and a beta of 0.72. First Busey Corporation has a 1 year low of $21.41 and a 1 year high of $27.65.

First Busey (NASDAQ:BUSE – Get Free Report) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $197.17 million for the quarter, compared to analysts’ expectations of $197.15 million. First Busey had a net margin of 19.16% and a return on equity of 10.19%. As a group, research analysts anticipate that First Busey Corporation will post 2.57 EPS for the current year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 24th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, April 24th. First Busey’s dividend payout ratio is 46.22%.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Royal Bank of Canada grew its position in First Busey by 13.1% during the first quarter. Royal Bank of Canada now owns 8,373 shares of the bank’s stock valued at $212,000 after acquiring an additional 971 shares during the last quarter. Rhino Investment Partners Inc grew its position in First Busey by 101.3% during the first quarter. Rhino Investment Partners Inc now owns 492,113 shares of the bank’s stock valued at $12,436,000 after acquiring an additional 247,589 shares during the last quarter. Empowered Funds LLC grew its position in First Busey by 16.0% during the first quarter. Empowered Funds LLC now owns 475,547 shares of the bank’s stock valued at $12,017,000 after acquiring an additional 65,745 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in First Busey by 453.5% during the first quarter. The Manufacturers Life Insurance Company now owns 233,061 shares of the bank’s stock valued at $5,889,000 after acquiring an additional 190,957 shares during the last quarter. Finally, Quantinno Capital Management LP grew its position in First Busey by 45.5% during the first quarter. Quantinno Capital Management LP now owns 142,447 shares of the bank’s stock valued at $3,600,000 after acquiring an additional 44,551 shares during the last quarter. 56.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

BUSE has been the topic of several research analyst reports. Weiss Ratings upgraded shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Stephens upped their price objective on shares of First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. DA Davidson restated a “neutral” rating and issued a $27.00 price objective on shares of First Busey in a research report on Thursday, January 29th. Finally, Piper Sandler upped their price objective on shares of First Busey from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

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First Busey Company Profile

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First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.

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