Dynamic Technology Lab Private Ltd Buys New Stake in First Busey Co. (NASDAQ:BUSE)

Dynamic Technology Lab Private Ltd acquired a new position in First Busey Co. (NASDAQ:BUSE - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 23,438 shares of the bank's stock, valued at approximately $552,000.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its holdings in First Busey by 168.7% in the 3rd quarter. FMR LLC now owns 149,279 shares of the bank's stock worth $3,884,000 after purchasing an additional 93,733 shares during the period. BNP Paribas Financial Markets lifted its position in shares of First Busey by 127.9% during the 3rd quarter. BNP Paribas Financial Markets now owns 24,330 shares of the bank's stock valued at $633,000 after buying an additional 13,654 shares in the last quarter. Centiva Capital LP acquired a new stake in First Busey in the 3rd quarter valued at $347,000. Stifel Financial Corp purchased a new stake in First Busey in the 3rd quarter worth $757,000. Finally, State Street Corp raised its position in First Busey by 0.4% during the third quarter. State Street Corp now owns 1,497,004 shares of the bank's stock worth $38,952,000 after acquiring an additional 6,367 shares during the period. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Price Performance

Shares of NASDAQ:BUSE traded down $0.13 during midday trading on Friday, hitting $19.43. The company had a trading volume of 852,815 shares, compared to its average volume of 323,125. The business's 50-day simple moving average is $22.56 and its 200-day simple moving average is $24.12. The stock has a market cap of $1.11 billion, a price-to-earnings ratio of 9.86 and a beta of 0.75. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82. First Busey Co. has a twelve month low of $18.40 and a twelve month high of $28.97.

First Busey (NASDAQ:BUSE - Get Free Report) last issued its earnings results on Tuesday, January 28th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.52 by $0.01. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, research analysts predict that First Busey Co. will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Stockholders of record on Friday, April 18th will be paid a $0.25 dividend. The ex-dividend date is Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 5.15%. First Busey's dividend payout ratio (DPR) is 50.76%.

Analyst Upgrades and Downgrades

A number of analysts have recently commented on BUSE shares. DA Davidson reissued a "neutral" rating and set a $25.00 target price on shares of First Busey in a research note on Tuesday, February 25th. Raymond James cut their price objective on First Busey from $29.00 to $27.00 and set an "outperform" rating for the company in a research note on Wednesday, April 2nd. Piper Sandler decreased their target price on First Busey from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Stephens reiterated an "equal weight" rating and set a $26.00 price target on shares of First Busey in a research report on Monday, February 24th. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and issued a $33.00 price objective (down previously from $34.00) on shares of First Busey in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.80.

Insider Transactions at First Busey

In other First Busey news, Director Stanley J. Bradshaw purchased 1,700 shares of the stock in a transaction dated Thursday, March 13th. The stock was acquired at an average cost of $21.70 per share, for a total transaction of $36,890.00. Following the acquisition, the director now owns 482,143 shares in the company, valued at $10,462,503.10. This trade represents a 0.35 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 7.10% of the company's stock.

First Busey Profile

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.