Key Points
- Insider sale: Director Michael David Cassens sold 750 shares on Dec. 15 at an average price of $25.37 for $19,027.50, trimming his stake to 140,781 shares (a 0.53% reduction); he also sold 750 shares on Nov. 14 at $22.92.
- BUSE traded up 0.8% to $25.41 and has a market cap of $2.25 billion with a P/E of 22.14 and a 1‑year range of $18.40–$25.62; the bank pays a quarterly dividend of $0.25 ($1.00 annualized) for a 3.9% yield and an 86.96% payout ratio.
- Analysts have an average "Hold" rating with a $26.33 consensus price target (3 Buys, 4 Holds), while institutional ownership is 56.49% and firms like Wellington, Vanguard and Dimensional materially increased their stakes.
First Busey Corporation (NASDAQ:BUSE - Get Free Report) Director Michael David Cassens sold 750 shares of First Busey stock in a transaction on Monday, December 15th. The shares were sold at an average price of $25.37, for a total value of $19,027.50. Following the sale, the director directly owned 140,781 shares of the company's stock, valued at approximately $3,571,613.97. The trade was a 0.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website.
Michael David Cassens also recently made the following trade(s):
- On Friday, November 14th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $22.92, for a total value of $17,190.00.
First Busey Stock Up 0.8%
BUSE stock traded up $0.21 during mid-day trading on Thursday, hitting $25.41. The stock had a trading volume of 38,454 shares, compared to its average volume of 500,321. First Busey Corporation has a 1-year low of $18.40 and a 1-year high of $25.62. The company has a fifty day moving average of $23.39 and a 200 day moving average of $23.49. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.25 billion, a price-to-earnings ratio of 22.14 and a beta of 0.80.
First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings results on Friday, May 20th. The bank reported $0.69 earnings per share (EPS) for the quarter. First Busey had a return on equity of 9.05% and a net margin of 11.00%.The business had revenue of $63.34 million during the quarter. On average, equities analysts expect that First Busey Corporation will post 2.61 EPS for the current fiscal year.
First Busey Dividend Announcement
The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 24th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, October 24th. This represents a $1.00 annualized dividend and a dividend yield of 3.9%. First Busey's dividend payout ratio is 86.96%.
Hedge Funds Weigh In On First Busey
A number of institutional investors have recently made changes to their positions in the business. Wellington Management Group LLP boosted its stake in First Busey by 94.4% during the 3rd quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank's stock valued at $165,196,000 after purchasing an additional 3,464,965 shares during the period. Vanguard Group Inc. increased its position in First Busey by 52.2% in the 1st quarter. Vanguard Group Inc. now owns 4,706,925 shares of the bank's stock worth $101,670,000 after buying an additional 1,613,848 shares during the period. Dimensional Fund Advisors LP lifted its holdings in shares of First Busey by 45.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,096,605 shares of the bank's stock worth $110,086,000 after buying an additional 1,596,262 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in shares of First Busey in the first quarter valued at approximately $19,861,000. Finally, Mirabella Financial Services LLP bought a new stake in First Busey in the 2nd quarter valued at $20,113,000. 56.49% of the stock is currently owned by institutional investors.
Wall Street Analysts Forecast Growth
Several equities research analysts recently issued reports on the stock. Raymond James Financial reaffirmed an "outperform" rating and issued a $26.00 price objective (down previously from $28.00) on shares of First Busey in a research note on Thursday, October 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of First Busey in a research report on Monday. Finally, Piper Sandler lowered their price objective on First Busey from $30.00 to $26.00 and set an "overweight" rating on the stock in a report on Friday, October 31st. Three analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $26.33.
View Our Latest Research Report on BUSE
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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