First Busey Co. (NASDAQ:BUSE) Director Purchases $88,000.00 in Stock

by · The Cerbat Gem

First Busey Co. (NASDAQ:BUSE – Get Free Report) Director Karen M. Jensen purchased 4,000 shares of the stock in a transaction that occurred on Friday, May 30th. The stock was purchased at an average cost of $22.00 per share, with a total value of $88,000.00. Following the purchase, the director now owns 76,068 shares in the company, valued at $1,673,496. This represents a 5.55% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

First Busey Stock Down 1.7%

Shares of BUSE stock opened at $22.30 on Thursday. First Busey Co. has a 12 month low of $18.40 and a 12 month high of $28.97. The firm has a market cap of $2.00 billion, a PE ratio of 11.32 and a beta of 0.78. The stock has a 50 day moving average of $21.18 and a 200-day moving average of $23.12. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

First Busey (NASDAQ:BUSE – Get Free Report) last issued its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. First Busey had a return on equity of 8.94% and a net margin of 17.14%. The company had revenue of $140.72 million during the quarter, compared to analyst estimates of $140.15 million. On average, equities analysts predict that First Busey Co. will post 2.61 EPS for the current year.

First Busey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 18th were paid a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.48%. First Busey’s payout ratio is 93.46%.

Analysts Set New Price Targets

Several brokerages recently commented on BUSE. Raymond James lowered their price target on First Busey from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. DA Davidson reaffirmed a “neutral” rating and set a $25.00 target price on shares of First Busey in a research report on Tuesday, February 25th. Stephens reaffirmed an “equal weight” rating and set a $26.00 target price on shares of First Busey in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Three equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Busey presently has a consensus rating of “Moderate Buy” and a consensus price target of $27.80.

Get Our Latest Analysis on BUSE

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Millennium Management LLC raised its stake in shares of First Busey by 121.0% in the fourth quarter. Millennium Management LLC now owns 565,001 shares of the bank’s stock valued at $13,317,000 after purchasing an additional 309,301 shares in the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Busey by 39.2% in the fourth quarter. JPMorgan Chase & Co. now owns 671,402 shares of the bank’s stock valued at $15,825,000 after purchasing an additional 189,115 shares in the last quarter. Swiss National Bank raised its stake in shares of First Busey by 0.9% in the fourth quarter. Swiss National Bank now owns 111,799 shares of the bank’s stock valued at $2,635,000 after purchasing an additional 1,000 shares in the last quarter. Deutsche Bank AG raised its stake in shares of First Busey by 58.4% in the fourth quarter. Deutsche Bank AG now owns 45,976 shares of the bank’s stock valued at $1,084,000 after purchasing an additional 16,954 shares in the last quarter. Finally, Two Sigma Advisers LP raised its stake in shares of First Busey by 65.4% in the fourth quarter. Two Sigma Advisers LP now owns 114,808 shares of the bank’s stock valued at $2,706,000 after purchasing an additional 45,400 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors and hedge funds.

About First Busey

(Get Free Report)

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.

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