Assenagon Asset Management S.A. Invests $1.28 Million in First Busey Corporation (NASDAQ:BUSE)

Assenagon Asset Management S.A. acquired a new stake in First Busey Corporation (NASDAQ:BUSE - Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 59,293 shares of the bank's stock, valued at approximately $1,281,000. Assenagon Asset Management S.A. owned approximately 0.10% of First Busey at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Rhumbline Advisers increased its holdings in shares of First Busey by 1.3% during the fourth quarter. Rhumbline Advisers now owns 84,997 shares of the bank's stock valued at $2,003,000 after acquiring an additional 1,081 shares in the last quarter. Peregrine Capital Management LLC purchased a new position in shares of First Busey during the 4th quarter valued at approximately $5,498,000. New York State Common Retirement Fund lifted its position in shares of First Busey by 4.7% during the 4th quarter. New York State Common Retirement Fund now owns 42,502 shares of the bank's stock valued at $1,002,000 after buying an additional 1,900 shares in the last quarter. Ieq Capital LLC acquired a new position in First Busey in the 4th quarter valued at $425,000. Finally, Charles Schwab Investment Management Inc. raised its stake in First Busey by 1.9% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 707,323 shares of the bank's stock valued at $16,672,000 after purchasing an additional 12,879 shares during the last quarter. 56.49% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. DA Davidson reissued a "neutral" rating and set a $25.00 price objective on shares of First Busey in a research report on Tuesday, February 25th. Wall Street Zen upgraded First Busey from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Stephens restated an "equal weight" rating and set a $26.00 target price on shares of First Busey in a research note on Wednesday, April 23rd. Finally, Raymond James Financial decreased their target price 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. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. Based on data from MarketBeat, First Busey currently has an average rating of "Moderate Buy" and an average price target of $27.80.

Insider Activity

In related news, Director Karen M. Jensen bought 4,000 shares of the stock in a transaction dated Friday, May 30th. The stock was acquired at an average price of $22.00 per share, for a total transaction of $88,000.00. Following the completion of the purchase, the director now owns 76,068 shares in the company, valued at $1,673,496. This represents a 5.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Steven W. Caple purchased 1,175 shares of First Busey stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average cost of $21.60 per share, with a total value of $25,380.00. Following the acquisition, the director now directly owns 4,509 shares of the company's stock, valued at $97,394.40. The trade was a 35.24% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 13,125 shares of company stock worth $286,148 over the last three months. 3.85% of the stock is currently owned by corporate insiders.

First Busey Price Performance

BUSE traded down $0.12 during trading on Friday, reaching $22.36. 1,100,291 shares of the stock were exchanged, compared to its average volume of 391,525. The business's 50 day moving average price is $21.75 and its two-hundred day moving average price is $22.74. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. The company has a market capitalization of $2.00 billion, a price-to-earnings ratio of 20.90 and a beta of 0.78. First Busey Corporation has a 1 year low of $18.40 and a 1 year high of $28.97.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.57 EPS for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. The company had revenue of $140.72 million for the quarter, compared to the consensus estimate of $140.15 million. First Busey had a return on equity of 8.46% and a net margin of 8.32%. As a group, equities research analysts anticipate that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.47%. First Busey's dividend payout ratio is currently 93.46%.

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.