BTG Pactual Asset Management US LLC Makes New Investment in First Busey Corporation $BUSE

BTG Pactual Asset Management US LLC acquired a new stake in shares of First Busey Corporation (NASDAQ:BUSE) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 16,689 shares of the bank’s stock, valued at approximately $492,000.

A number of other institutional investors have also made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. grew its holdings in First Busey by 36,664.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock valued at $74,510,000 after purchasing an additional 3,123,454 shares during the last quarter. Quantinno Capital Management LP raised its position in shares of First Busey by 45.5% in the first quarter. Quantinno Capital Management LP now owns 142,447 shares of the bank’s stock valued at $3,600,000 after purchasing an additional 44,551 shares during the period. Assenagon Asset Management S.A. acquired a new stake in shares of First Busey in the first quarter worth $1,743,000. Empowered Funds LLC lifted its stake in shares of First Busey by 16.0% in the first quarter. Empowered Funds LLC now owns 475,547 shares of the bank’s stock worth $12,017,000 after buying an additional 65,745 shares during the last quarter. Finally, Bank of New York Mellon Corp bought a new stake in shares of First Busey during the 2nd quarter worth $32,712,000. 56.49% of the stock is owned by institutional investors.

Insider Activity at First Busey

In related news, Director Michael David Cassens sold 1,441 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $31.08, for a total value of $44,786.28. Following the completion of the sale, the director owned 131,453 shares in the company, valued at approximately $4,085,559.24. This trade represents a 1.08% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Corporate insiders own 3.77% of the company’s stock.

First Busey Stock Down 0.6%

BUSE opened at $30.10 on Tuesday. The business has a 50 day moving average of $30.13 and a 200-day moving average of $27.67. The stock has a market capitalization of $2.49 billion, a price-to-earnings ratio of 12.44 and a beta of 0.72. 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 1-year low of $22.00 and a 1-year high of $31.70.

First Busey (NASDAQ:BUSE) last announced its earnings results 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. First Busey had a net margin of 21.00% and a return on equity of 10.48%. The business had revenue of $194.27 million for the quarter, compared to analyst estimates of $197.59 million. As a group, sell-side analysts anticipate that First Busey Corporation will post 2.67 earnings per share for the current year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were given a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, July 24th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.5%. First Busey’s dividend payout ratio is currently 42.98%.

Analyst Upgrades and Downgrades

BUSE has been the topic of a number of research analyst reports. DA Davidson raised their target price on shares of First Busey from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday, July 30th. Keefe, Bruyette & Woods boosted their target price on shares of First Busey from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Friday, July 31st. Raymond James Financial upped their price target on shares of First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Wall Street Zen raised First Busey from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. Finally, Zacks Research lowered First Busey from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 21st. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $32.00.

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.