ExodusPoint Capital Management LP Has $2.83 Million Position in First Busey Co. (NASDAQ:BUSE)

ExodusPoint Capital Management LP boosted its holdings in First Busey Co. (NASDAQ:BUSE - Free Report) by 12.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 120,251 shares of the bank's stock after acquiring an additional 13,176 shares during the period. ExodusPoint Capital Management LP owned about 0.21% of First Busey worth $2,834,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the stock. PNC Financial Services Group Inc. lifted its position in First Busey by 1,173.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,439 shares of the bank's stock valued at $34,000 after purchasing an additional 1,326 shares during the last quarter. R Squared Ltd bought a new position in First Busey in the 4th quarter worth approximately $35,000. Meeder Asset Management Inc. increased its position in First Busey by 161.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank's stock valued at $40,000 after acquiring an additional 1,047 shares during the period. KLP Kapitalforvaltning AS bought a new stake in First Busey during the 4th quarter valued at $245,000. Finally, EntryPoint Capital LLC acquired a new position in First Busey during the 4th quarter worth $280,000. 56.49% of the stock is currently owned by institutional investors and hedge funds.

First Busey Trading Down 0.7 %

BUSE stock traded down $0.13 during mid-day trading on Friday, reaching $19.43. 852,815 shares of the stock traded hands, compared to its average volume of 322,269. The stock's fifty day moving average is $22.56 and its 200-day moving average is $24.13. The company has a market cap of $1.11 billion, a P/E ratio of 9.86 and a beta of 0.75. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. First Busey Co. has a 52-week low of $18.40 and a 52-week high of $28.97.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. First Busey had a net margin of 17.14% and a return on equity of 8.94%. As a group, sell-side analysts expect that First Busey Co. will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, April 25th. Investors of record on Friday, April 18th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 5.15%. The ex-dividend date of this dividend is Thursday, April 17th. First Busey's dividend payout ratio is currently 50.76%.

Analyst Ratings Changes

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

Insider Activity at First Busey

In other news, Director Stanley J. Bradshaw purchased 1,700 shares of First Busey 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 directly owns 482,143 shares in the company, valued at $10,462,503.10. This represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 7.10% of the stock is currently owned by insiders.

First Busey Company 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.