Key Points
- First Busey Director Michael David Cassens sold 1,441 shares at an average price of $30.45, generating $43,878.45. The transaction, conducted under a Rule 10b5-1 plan, reduced his holdings by 1.10% to 130,012 shares.
- First Busey recently reported quarterly EPS of $0.69, exceeding the $0.63 consensus estimate, while revenue totaled $194.27 million. The company also maintains a quarterly dividend of $0.26, equivalent to a 3.4% yield.
- Analysts rate the stock a consensus “Moderate Buy”, with an average price target of $32.00 versus a recent price of $30.24. Institutional investors own approximately 56.49% of First Busey’s outstanding shares.
First Busey Corporation (NASDAQ:BUSE - Get Free Report) Director Michael Cassens sold 1,441 shares of the stock in a transaction on Tuesday, September 15th. The stock was sold at an average price of $30.45, for a total transaction of $43,878.45. Following the completion of the sale, the director directly owned 130,012 shares of the company's stock, valued at $3,958,865.40. The trade was a 1.10% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael David Cassens also recently made the following trade(s):
- On Monday, August 17th, Michael Cassens sold 1,441 shares of First Busey stock. The shares were sold at an average price of $31.08, for a total transaction of $44,786.28.
First Busey Stock Performance
NASDAQ:BUSE opened at $30.24 on Thursday. The firm's fifty day simple moving average is $30.37 and its 200 day simple moving average is $28.03. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. First Busey Corporation has a twelve month low of $22.00 and a twelve month high of $31.70. The firm has a market capitalization of $2.50 billion, a price-to-earnings ratio of 12.50 and a beta of 0.71.
First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. First Busey had a return on equity of 10.48% and a net margin of 21.00%.The firm had revenue of $194.27 million during the quarter, compared to the consensus estimate of $197.59 million. As a group, equities research analysts expect that First Busey Corporation will post 2.67 earnings per share for the current fiscal year.
First Busey Dividend Announcement
The business also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.04 annualized dividend and a dividend yield of 3.4%. First Busey's dividend payout ratio is presently 42.98%.
Institutional Trading of First Busey
Hedge funds and other institutional investors have recently modified their holdings of the business. Dimensional Fund Advisors LP grew its stake in First Busey by 4.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 5,067,210 shares of the bank's stock valued at $128,046,000 after purchasing an additional 194,343 shares in the last quarter. LSV Asset Management raised its position in shares of First Busey by 8.0% in the 4th quarter. LSV Asset Management now owns 1,384,661 shares of the bank's stock valued at $32,941,000 after purchasing an additional 102,904 shares in the last quarter. Bank of New York Mellon Corp purchased a new position in shares of First Busey during the 2nd quarter valued at approximately $32,712,000. Bridgeway Capital Management LLC boosted its stake in shares of First Busey by 5.4% during the 4th quarter. Bridgeway Capital Management LLC now owns 632,898 shares of the bank's stock valued at $15,057,000 after buying an additional 32,308 shares during the last quarter. Finally, Verition Fund Management LLC grew its position in shares of First Busey by 69.1% during the fourth quarter. Verition Fund Management LLC now owns 601,355 shares of the bank's stock worth $14,306,000 after buying an additional 245,832 shares in the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several equities research analysts recently commented on BUSE shares. DA Davidson raised their target price on First Busey from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. Keefe, Bruyette & Woods upped their price target on First Busey from $32.00 to $34.00 and gave the stock an "outperform" rating in a report on Friday, July 31st. Weiss Ratings reaffirmed a "buy (b)" rating on shares of First Busey in a research report on Friday, August 7th. Raymond James Financial lifted their price objective on shares of First Busey from $28.00 to $32.00 and gave the company an "outperform" rating in a research note on Wednesday, July 1st. Finally, Piper Sandler boosted their target price on shares of First Busey from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $32.00.
Read Our Latest Research Report on BUSE
About First Busey
(
Get Free Report)
First Busey Corporation is a financial holding company headquartered in Champaign, Illinois. Its principal subsidiary, Busey Bank, provides banking services to individuals, families, businesses and institutions through branch locations and digital banking channels.
The company offers deposit accounts, consumer and commercial loans, mortgages, treasury management, cash management and other traditional banking products. Through its wealth management operations, First Busey also provides investment management, trust, retirement planning, financial planning and related advisory services.
First Busey traces its history to 1868 and serves customers primarily across Illinois, as well as selected markets in Indiana, Missouri and Florida.
Featured Articles
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
