Insider Selling: First Busey (NASDAQ:BUSE) Director Sells 750 Shares of Stock

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 750 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The shares were sold at an average price of $26.61, for a total transaction of $19,957.50. Following the sale, the director directly owned 139,523 shares of the company’s stock, valued at $3,712,707.03. This trade represents a 0.53% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

Michael David Cassens also recently made the following trade(s):

• On Thursday, January 15th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $24.24, for a total transaction of $18,180.00.
• On Monday, December 15th, Michael David Cassens sold 750 shares of First Busey stock. The stock was sold at an average price of $25.37, for a total transaction of $19,027.50.

First Busey Stock Down 0.9%

BUSE stock traded down $0.25 during trading on Thursday, hitting $26.07. 136,167 shares of the company’s stock traded hands, compared to its average volume of 636,841. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.11. The firm has a market capitalization of $2.30 billion, a P/E ratio of 20.22 and a beta of 0.78. First Busey Corporation has a 1 year low of $18.40 and a 1 year high of $27.65. The business has a fifty day simple moving average of $25.06 and a two-hundred day simple moving average of $24.05.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $201.78 million during the quarter, compared to the consensus estimate of $197.70 million. First Busey had a return on equity of 9.59% and a net margin of 12.96%. Sell-side analysts anticipate that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 23rd were issued a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. This is a boost from First Busey’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, January 23rd. First Busey’s dividend payout ratio is 80.62%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on the company. DA Davidson restated a “neutral” rating and issued a $27.00 target price on shares of First Busey in a research note on Thursday, January 29th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Busey in a research note on Monday, December 29th. Piper Sandler increased their target price on shares of First Busey from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Finally, Raymond James Financial reiterated an “outperform” rating and set a $26.00 price objective (down from $28.00) on shares of First Busey in a research report on Thursday, October 30th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $27.00.

Institutional Trading of First Busey

Several institutional investors have recently modified their holdings of the company. MPS Loria Financial Planners LLC increased its holdings in First Busey by 1.1% during the 4th quarter. MPS Loria Financial Planners LLC now owns 36,803 shares of the bank’s stock worth $876,000 after purchasing an additional 405 shares in the last quarter. Teacher Retirement System of Texas increased its holdings in shares of First Busey by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 12,965 shares of the bank’s stock worth $297,000 after buying an additional 572 shares in the last quarter. CANADA LIFE ASSURANCE Co raised its holdings in shares of First Busey by 5.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 13,237 shares of the bank’s stock valued at $303,000 after purchasing an additional 640 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of First Busey by 0.7% in the third quarter. Legal & General Group Plc now owns 91,585 shares of the bank’s stock worth $2,120,000 after purchasing an additional 646 shares during the period. Finally, Ameritas Investment Partners Inc. raised its holdings in shares of First Busey by 8.0% during the second quarter. Ameritas Investment Partners Inc. now owns 8,745 shares of the bank’s stock valued at $200,000 after acquiring an additional 648 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

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.