David J. Downey Buys 7,500 Shares of First Busey Co. (NASDAQ:BUSE) Stock

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First Busey Co. (NASDAQ:BUSE) Director David J. Downey bought 7,500 shares of the business’s stock in a transaction dated Tuesday, August 27th. The shares were bought at an average cost of $24.06 per share, for a total transaction of $180,450.00. Following the transaction, the director now owns 189,949 shares in the company, valued at approximately $4,570,172.94. The acquisition was disclosed in a document filed with the SEC, which can be accessed through the SEC website.

Shares of First Busey stock opened at $24.70 on Friday. The stock’s fifty day moving average is $25.65 and its two-hundred day moving average is $25.78. The company has a market capitalization of $1.32 billion, a PE ratio of 11.28, a price-to-earnings-growth ratio of 1.92 and a beta of 0.99. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. First Busey Co. has a 52 week low of $23.13 and a 52 week high of $32.30.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.53 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.52 by $0.01. The company had revenue of $101.32 million for the quarter, compared to the consensus estimate of $102.67 million. First Busey had a return on equity of 10.01% and a net margin of 24.14%. As a group, research analysts anticipate that First Busey Co. will post 2.07 earnings per share for the current year.

Institutional investors have recently made changes to their positions in the business. Tower Research Capital LLC TRC bought a new position in First Busey in the 2nd quarter valued at $43,000. Quantamental Technologies LLC purchased a new stake in shares of First Busey in the 2nd quarter worth $52,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of First Busey by 474.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,960 shares of the bank’s stock worth $170,000 after buying an additional 5,749 shares during the period. Centric Wealth Management purchased a new stake in shares of First Busey in the 2nd quarter worth $206,000. Finally, Legal & General Group Plc lifted its holdings in shares of First Busey by 10.3% in the 4th quarter. Legal & General Group Plc now owns 7,893 shares of the bank’s stock worth $194,000 after buying an additional 738 shares during the period. 48.27% of the stock is currently owned by institutional investors.

BUSE has been the topic of several analyst reports. Zacks Investment Research raised First Busey from a “sell” rating to a “hold” rating in a research report on Wednesday, July 24th. ValuEngine raised First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. B. Riley downgraded First Busey from a “buy” rating to a “neutral” rating and cut their target price for the company from $30.00 to $28.00 in a research report on Wednesday, August 21st. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a research report on Friday, July 26th. Finally, Stephens downgraded First Busey from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $30.00 to $29.00 in a research report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating, The company presently has an average rating of “Hold” and an average target price of $29.25.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.

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