Key Points
- First Busey director Michael David Cassens sold 750 shares on May 15 at an average price of $26.11, totaling about $19,582.50. The sale was made under a pre-arranged Rule 10b5-1 trading plan.
- After the transaction, Cassens still held 140,392 shares valued at roughly $3.67 million, and the sale represented only a 0.53% decrease in his position. He also sold 750 shares in each of two earlier transactions this year.
- First Busey shares were up 1.5% and opened at $26.20, near the stock’s 52-week high of $27.65. The company also recently beat earnings expectations and pays a quarterly dividend yielding about 4.0%.
First Busey Corporation (NASDAQ:BUSE - Get Free Report) Director Michael David Cassens sold 750 shares of the firm's stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $26.11, for a total transaction of $19,582.50. Following the transaction, the director owned 140,392 shares of the company's stock, valued at approximately $3,665,635.12. The trade was a 0.53% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 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 Stock Up 1.5%
First Busey stock opened at $26.20 on Tuesday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. First Busey Corporation has a 52-week low of $21.41 and a 52-week high of $27.65. The firm has a 50 day moving average price of $25.79 and a two-hundred day moving average price of $24.97. The firm has a market cap of $2.22 billion, a price-to-earnings ratio of 11.64 and a beta of 0.72.
First Busey (NASDAQ:BUSE - Get Free Report) last released its quarterly earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.57 by $0.10. First Busey had a net margin of 19.16% and a return on equity of 10.19%. The firm had revenue of $197.17 million during the quarter, compared to analyst estimates of $197.15 million. Equities analysts predict that First Busey Corporation will post 2.57 EPS for the current year.
First Busey Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 24th were issued a dividend of $0.26 per share. The ex-dividend date was Friday, April 24th. This represents a $1.04 annualized dividend and a yield of 4.0%. First Busey's dividend payout ratio (DPR) is presently 46.22%.
Institutional Trading of First Busey
Several hedge funds have recently bought and sold shares of BUSE. Royal Bank of Canada grew its position in First Busey by 95.9% in the 1st quarter. Royal Bank of Canada now owns 18,143 shares of the bank's stock valued at $392,000 after purchasing an additional 8,884 shares during the period. AQR Capital Management LLC grew its position in First Busey by 16.8% in the 1st quarter. AQR Capital Management LLC now owns 198,945 shares of the bank's stock valued at $4,297,000 after purchasing an additional 28,605 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in First Busey by 64.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank's stock valued at $1,074,000 after purchasing an additional 19,431 shares during the period. Goldman Sachs Group Inc. grew its position in 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 period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in 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 period. Institutional investors and hedge funds own 56.49% of the company's stock.
Wall Street Analysts Forecast Growth
Several research analysts have issued reports on BUSE shares. Piper Sandler raised their price target on shares of First Busey from $29.00 to $30.00 and gave the stock an "overweight" rating in a report on Thursday, April 30th. Weiss Ratings upgraded shares of First Busey from a "buy (b-)" rating to a "buy (b)" rating in a report on Monday, May 11th. DA Davidson reaffirmed a "neutral" rating and set a $27.00 price objective on shares of First Busey in a research report on Thursday, January 29th. Finally, Stephens raised 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. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company's stock. According to MarketBeat.com, First Busey has an average rating of "Moderate Buy" and a consensus price target of $27.50.
Read Our Latest Stock Analysis on First Busey
About First Busey
(
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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