Key Points
- Director Michael David Cassens sold 750 shares of First Busey on April 15 at an average price of $26.75 (~$20,062.50), reducing his stake by 0.53% to 140,888 shares; the transaction was disclosed in an SEC filing and executed under a pre-arranged Rule 10b5-1 trading plan.
- First Busey declared a quarterly dividend of $0.26 (annualized $1.04) implying a 4.0% yield
- The company beat expectations last quarter with EPS $0.68 versus $0.61 expected and revenue of $201.78M, and analysts hold a consensus "Moderate Buy" view with an average price target near $27.17 (Piper Sandler raised its target to $29).
First Busey Corporation (NASDAQ:BUSE - Get Free Report) Director Michael David Cassens sold 750 shares of the business's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $26.75, for a total value of $20,062.50. Following the completion of the transaction, the director directly owned 140,888 shares of the company's stock, valued at approximately $3,768,754. This trade represents a 0.53% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 Tuesday, February 17th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $26.61, for a total transaction of $19,957.50.
First Busey Trading Down 1.5%
Shares of BUSE opened at $26.20 on Friday. First Busey Corporation has a fifty-two week low of $19.55 and a fifty-two week high of $27.65. The company has a market capitalization of $2.24 billion, a PE ratio of 20.31 and a beta of 0.72. The stock has a fifty day moving average of $25.72 and a two-hundred day moving average of $24.50. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91.
First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.68 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $201.78 million for the quarter, compared to analysts' expectations of $197.70 million. First Busey had a return on equity of 9.46% and a net margin of 12.96%. As a group, analysts forecast that First Busey Corporation will post 2.61 EPS for the current year.
First Busey Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Shareholders of record on Friday, April 24th will be paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. The ex-dividend date of this dividend is Friday, April 24th. First Busey's dividend payout ratio (DPR) is presently 80.62%.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on the stock. DA Davidson reaffirmed a "neutral" rating and set a $27.00 price objective on shares of First Busey in a research note on Thursday, January 29th. Stephens started coverage on shares of First Busey in a report on Friday, March 27th. They issued an "equal weight" rating and a $27.00 target price for the company. Weiss Ratings raised shares of First Busey from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, March 3rd. Finally, Piper Sandler increased their price target on shares of First Busey from $26.00 to $29.00 and gave the stock an "overweight" rating in a research note on Friday, January 30th. Four analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $27.17.
View Our Latest Stock Report on First Busey
Institutional Investors Weigh In On First Busey
A number of institutional investors have recently added to or reduced their stakes in BUSE. MPS Loria Financial Planners LLC lifted its stake in shares of First Busey by 1.1% in the 4th quarter. MPS Loria Financial Planners LLC now owns 36,803 shares of the bank's stock valued at $876,000 after purchasing an additional 405 shares in the last quarter. CANADA LIFE ASSURANCE Co increased its position in First Busey by 5.1% during the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,237 shares of the bank's stock worth $303,000 after purchasing an additional 640 shares in the last quarter. Legal & General Group Plc raised its holdings in First Busey by 0.7% in the third quarter. Legal & General Group Plc now owns 91,585 shares of the bank's stock valued at $2,120,000 after buying an additional 646 shares during the period. Russell Investments Group Ltd. raised its holdings in First Busey by 0.8% in the fourth quarter. Russell Investments Group Ltd. now owns 91,534 shares of the bank's stock valued at $2,178,000 after buying an additional 758 shares during the period. Finally, Allworth Financial LP lifted its position in First Busey by 127.8% during the fourth quarter. Allworth Financial LP now owns 1,583 shares of the bank's stock valued at $38,000 after buying an additional 888 shares in the last quarter. Hedge funds and other institutional investors own 56.49% of the company's stock.
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.
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