First Busey Corporation (NASDAQ:BUSE) Short Interest Update

by · The Markets Daily

First Busey Corporation (NASDAQ:BUSEGet Free Report) was the target of a large growth in short interest in February. As of February 13th, there was short interest totaling 2,074,813 shares, a growth of 28.8% from the January 29th total of 1,610,775 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average trading volume of 755,772 shares, the short-interest ratio is presently 2.7 days. Based on an average trading volume of 755,772 shares, the short-interest ratio is presently 2.7 days. Approximately 2.4% of the company’s shares are short sold.

Institutional Trading of First Busey

A number of institutional investors have recently made changes to their positions in BUSE. Royal Bank of Canada increased its position in First Busey by 95.9% during the 1st quarter. Royal Bank of Canada now owns 18,143 shares of the bank’s stock valued at $392,000 after buying an additional 8,884 shares in the last quarter. AQR Capital Management LLC grew its stake in shares of First Busey by 16.8% during the first quarter. AQR Capital Management LLC now owns 198,945 shares of the bank’s stock worth $4,297,000 after acquiring an additional 28,605 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of First Busey by 64.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 19,431 shares in the last quarter. Goldman Sachs Group Inc. raised its position in shares of First Busey by 9.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 469,310 shares of the bank’s stock valued at $10,137,000 after purchasing an additional 38,773 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in shares of First Busey by 78.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank’s stock valued at $4,796,000 after purchasing an additional 97,560 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

First Busey Trading Down 0.5%

Shares of NASDAQ BUSE opened at $25.66 on Thursday. First Busey has a 1-year low of $18.40 and a 1-year high of $27.65. The business has a fifty day moving average price of $25.22 and a 200 day moving average price of $24.27. The stock has a market capitalization of $2.21 billion, a P/E ratio of 19.89 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91.

First Busey (NASDAQ:BUSEGet Free Report) last announced its earnings results on Tuesday, January 27th. The bank reported $0.68 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.07. First Busey had a net margin of 12.96% and a return on equity of 9.46%. The business had revenue of $201.78 million during the quarter, compared to the consensus estimate of $197.70 million. Equities research analysts expect that First Busey will post 2.61 EPS for the current fiscal year.

First Busey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 23rd were issued a $0.26 dividend. This is an increase from First Busey’s previous quarterly dividend of $0.25. This represents a $1.04 annualized dividend and a yield of 4.1%. The ex-dividend date of this dividend was Friday, January 23rd. First Busey’s dividend payout ratio is presently 80.62%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BUSE. Piper Sandler lifted their price target on shares of First Busey from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. DA Davidson reissued a “neutral” rating and set a $27.00 price target on shares of First Busey in a research report on Thursday, January 29th. Finally, Weiss Ratings upgraded First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $27.00.

View Our Latest Stock Analysis on BUSE

First Busey Company Profile

(Get Free Report)

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.

Featured Articles