First Busey (NASDAQ:BUSE) CAO Scott Phillips Buys 5,000 Shares of Stock

First Busey Corporation (NASDAQ:BUSE) CAO Scott Phillips purchased 5,000 shares of First Busey stock in a transaction dated Monday, May 4th. The stock was acquired at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the completion of the acquisition, the chief accounting officer owned 8,350 shares of the company’s stock, valued at approximately $216,265. This trade represents a 149.25% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

First Busey Trading Up 1.3%

Shares of BUSE opened at $26.56 on Wednesday. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of 11.80 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91. First Busey Corporation has a 1-year low of $20.91 and a 1-year high of $27.65. The company has a 50-day moving average of $25.67 and a 200 day moving average of $24.77.

First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, topping the consensus estimate of $0.57 by $0.10. First Busey had a return on equity of 10.16% and a net margin of 19.16%.The business had revenue of $197.17 million during the quarter, compared to analysts’ expectations of $197.15 million. On average, research analysts expect that First Busey Corporation will post 2.57 EPS for the current year.

First Busey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 24th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.9%. First Busey’s payout ratio is presently 46.22%.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on BUSE shares. Piper Sandler boosted their target price on First Busey from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 3rd. DA Davidson reissued a “neutral” rating and issued a $27.00 price target on shares of First Busey in a report on Thursday, January 29th. Finally, Stephens boosted their price target on First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to data from MarketBeat.com, First Busey currently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Institutional Trading of First Busey

Several hedge funds and other institutional investors have recently bought and sold shares of BUSE. Parkside Financial Bank & Trust acquired a new position in shares of First Busey during the 4th quarter worth approximately $28,000. Litman Gregory Wealth Management LLC acquired a new stake in First Busey in the 4th quarter valued at $30,000. Allworth Financial LP increased its holdings in First Busey by 127.8% in the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock worth $38,000 after acquiring an additional 888 shares in the last quarter. Torren Management LLC acquired a new position in First Busey during the fourth quarter worth $40,000. Finally, Geneos Wealth Management Inc. raised its position in First Busey by 726.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after acquiring an additional 2,004 shares during the period. 56.49% of the stock is owned by institutional investors and hedge funds.

About First Busey

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.