Hsbc Holdings PLC Purchases New Position in First Busey Corporation $BUSE

Hsbc Holdings PLC purchased a new stake in shares of First Busey Corporation (NASDAQ:BUSE) in the first quarter, according to the company in its most recent filing with the SEC. The fund purchased 24,900 shares of the bank’s stock, valued at approximately $628,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MPS Loria Financial Planners LLC lifted its holdings in shares of First Busey by 1.1% in the fourth 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 grew its holdings in First Busey by 5.1% during the second quarter. CANADA LIFE ASSURANCE Co now owns 13,237 shares of the bank’s stock worth $303,000 after buying an additional 640 shares in the last quarter. Legal & General Group Plc grew its holdings in First Busey by 0.7% during the third quarter. Legal & General Group Plc now owns 91,585 shares of the bank’s stock worth $2,120,000 after buying an additional 646 shares in the last quarter. Inspire Investing LLC raised its position in First Busey by 3.7% in the 1st quarter. Inspire Investing LLC now owns 20,335 shares of the bank’s stock valued at $514,000 after buying an additional 725 shares during the last quarter. Finally, Russell Investments Group Ltd. raised its position in First Busey by 0.8% in the 4th 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 last quarter. 56.49% of the stock is owned by institutional investors.

First Busey Price Performance

BUSE opened at $31.28 on Friday. The firm has a market cap of $2.65 billion, a P/E ratio of 12.93 and a beta of 0.72. The firm has a 50-day moving average of $28.83 and a 200 day moving average of $26.81. 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 fifty-two week low of $21.63 and a fifty-two week high of $31.34.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $0.69 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. The business had revenue of $194.27 million during the quarter, compared to the consensus estimate of $197.59 million. First Busey had a net margin of 21.00% and a return on equity of 10.42%. On average, research analysts expect that First Busey Corporation will post 2.6 EPS for the current year.

First Busey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Stockholders of record on Friday, July 24th will be paid a dividend of $0.26 per share. The ex-dividend date is Friday, July 24th. This represents a $1.04 annualized dividend and a dividend yield of 3.3%. First Busey’s dividend payout ratio (DPR) is presently 46.22%.

Insider Activity at First Busey

In related news, CAO Scott A. Phillips purchased 5,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average price of $25.90 per share, with a total value of $129,500.00. Following the acquisition, the chief accounting officer owned 8,350 shares of the company’s stock, valued at $216,265. This trade represents a 149.25% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 3.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BUSE shares. Zacks Research raised shares of First Busey from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Wall Street Zen downgraded shares of First Busey from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. 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 raised their price target on shares of First Busey from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday. Finally, Raymond James Financial boosted their price target on shares of First Busey from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have issued a Hold rating to the company. According to MarketBeat, First Busey has an average rating of “Moderate Buy” and an average target price of $31.50.

First Busey Profile

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.