First Busey (NASDAQ:BUSE) President Mike Maddox Purchases 1,000 Shares

First Busey Corporation (NASDAQ:BUSE) President Mike Maddox acquired 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $25.52 per share, with a total value of $25,520.00. Following the completion of the purchase, the president directly owned 40,280 shares in the company, valued at $1,027,945.60. This represents a 2.55% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.

First Busey Stock Down 0.7%

BUSE opened at $24.02 on Friday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91. The company has a market cap of $2.12 billion, a price-to-earnings ratio of 20.89 and a beta of 0.80. First Busey Corporation has a one year low of $18.40 and a one year high of $27.26. The business’s fifty day moving average is $23.12 and its two-hundred day moving average is $23.32.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Friday, May 20th. The bank reported $0.69 earnings per share for the quarter. First Busey had a return on equity of 9.05% and a net margin of 11.00%.The business had revenue of $63.34 million during the quarter. Analysts anticipate that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 24th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, October 24th. First Busey’s dividend payout ratio is 86.96%.

Wall Street Analyst Weigh In

Several analysts have recently commented on BUSE shares. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Busey in a research report on Monday. Raymond James Financial reaffirmed an “outperform” rating and issued a $26.00 target price (down previously from $28.00) on shares of First Busey in a research note on Thursday, October 30th. Finally, Piper Sandler lowered their target price on First Busey from $30.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Three investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $26.33.

Hedge Funds Weigh In On First Busey

Several institutional investors and hedge funds have recently modified their holdings of the company. CIBC Private Wealth Group LLC lifted its position in shares of First Busey by 111.9% during the third quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank’s stock worth $91,000 after purchasing an additional 2,070 shares during the last quarter. CIBC Bancorp USA Inc. bought a new stake in First Busey in the third quarter valued at about $211,000. Verition Fund Management LLC raised its stake in First Busey by 27.3% during the third quarter. Verition Fund Management LLC now owns 355,523 shares of the bank’s stock valued at $8,230,000 after buying an additional 76,218 shares in the last quarter. Mariner LLC raised its stake in First Busey by 1.3% during the third quarter. Mariner LLC now owns 171,067 shares of the bank’s stock valued at $3,960,000 after buying an additional 2,126 shares in the last quarter. Finally, Members Trust Co bought a new position in First Busey during the 3rd quarter worth approximately $1,736,000. Hedge funds and other institutional investors own 56.49% of the company’s stock.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.