First Busey Corporation $BUSE Shares Sold by Thrivent Financial for Lutherans

Thrivent Financial for Lutherans cut its holdings in shares of First Busey Corporation (NASDAQ:BUSE) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 121,360 shares of the bank’s stock after selling 28,290 shares during the quarter. Thrivent Financial for Lutherans’ holdings in First Busey were worth $2,777,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of BUSE. CANADA LIFE ASSURANCE Co raised its holdings in First Busey by 5.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,237 shares of the bank’s stock valued at $303,000 after acquiring an additional 640 shares during the last quarter. Tower Research Capital LLC TRC grew its position in shares of First Busey by 585.6% in the second quarter. Tower Research Capital LLC TRC now owns 9,742 shares of the bank’s stock valued at $223,000 after purchasing an additional 8,321 shares in the last quarter. Two Sigma Securities LLC acquired a new stake in shares of First Busey in the second quarter valued at approximately $450,000. Rafferty Asset Management LLC lifted its position in First Busey by 56.4% during the second quarter. Rafferty Asset Management LLC now owns 79,431 shares of the bank’s stock worth $1,818,000 after buying an additional 28,641 shares in the last quarter. Finally, Brevan Howard Capital Management LP acquired a new position in First Busey during the second quarter worth $993,000. Hedge funds and other institutional investors own 56.49% of the company’s stock.

First Busey Stock Down 1.4%

Shares of NASDAQ:BUSE opened at $24.66 on Tuesday. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 21.44 and a beta of 0.80. First Busey Corporation has a 12-month low of $18.40 and a 12-month high of $25.62. The business has a 50-day moving average price of $23.52 and a 200 day moving average price of $23.55. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

First Busey (NASDAQ:BUSE) last posted its earnings results on Friday, May 20th. The bank reported $0.69 EPS for the quarter. First Busey had a net margin of 11.00% and a return on equity of 9.05%. The company had revenue of $63.34 million for the quarter. Sell-side analysts expect that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 24th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.1%. First Busey’s dividend payout ratio (DPR) is presently 86.96%.

Analyst Ratings Changes

A number of brokerages have issued reports on BUSE. Raymond James Financial reaffirmed an “outperform” rating and issued a $26.00 target price (down from $28.00) on shares of First Busey in a research note on Thursday, October 30th. Weiss Ratings restated a “hold (c+)” rating on shares of First Busey in a research report on Monday, December 15th. Finally, Piper Sandler decreased their target price on shares of 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 stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.33.

Insider Activity at First Busey

In other news, CAO Scott A. Phillips purchased 1,350 shares of the stock in a transaction dated Friday, October 31st. The stock was acquired at an average cost of $25.64 per share, for a total transaction of $34,614.00. Following the completion of the transaction, the chief accounting officer directly owned 2,350 shares in the company, valued at approximately $60,254. This represents a 135.00% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, President Mike Maddox acquired 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the acquisition, the president directly owned 40,280 shares in the company, valued at approximately $1,027,945.60. This trade represents a 2.55% increase in their position. The SEC filing for this purchase provides additional information. 3.85% of the stock is currently owned by company insiders.

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.