Bank of New York Mellon Corp Has $10.12 Million Stock Position in First Busey Corporation (NASDAQ:BUSE)

Bank of New York Mellon Corp increased its position in First Busey Corporation (NASDAQ:BUSE - Free Report) by 29.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 468,608 shares of the bank's stock after purchasing an additional 106,806 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.82% of First Busey worth $10,122,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in BUSE. Dimensional Fund Advisors LP boosted its holdings in First Busey by 3.3% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,500,343 shares of the bank's stock worth $82,503,000 after buying an additional 110,895 shares during the last quarter. American Century Companies Inc. boosted its holdings in First Busey by 5.5% during the fourth quarter. American Century Companies Inc. now owns 1,122,896 shares of the bank's stock worth $26,467,000 after buying an additional 58,982 shares during the last quarter. JPMorgan Chase & Co. boosted its holdings in First Busey by 39.2% during the fourth quarter. JPMorgan Chase & Co. now owns 671,402 shares of the bank's stock worth $15,825,000 after buying an additional 189,115 shares during the last quarter. Northern Trust Corp boosted its holdings in First Busey by 6.0% during the fourth quarter. Northern Trust Corp now owns 642,397 shares of the bank's stock worth $15,141,000 after buying an additional 36,531 shares during the last quarter. Finally, Millennium Management LLC boosted its holdings in First Busey by 121.0% during the fourth quarter. Millennium Management LLC now owns 565,001 shares of the bank's stock worth $13,317,000 after buying an additional 309,301 shares during the last quarter. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, Director Karen M. Jensen purchased 5,500 shares of the firm's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $21.70 per share, with a total value of $119,350.00. Following the completion of the purchase, the director owned 72,068 shares in the company, valued at approximately $1,563,875.60. This represents a 8.26% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Steven W. Caple purchased 1,175 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $21.60 per share, for a total transaction of $25,380.00. Following the transaction, the director directly owned 4,509 shares in the company, valued at approximately $97,394.40. This trade represents a 35.24% increase in their position. The disclosure for this purchase can be found here. Insiders acquired 13,125 shares of company stock valued at $286,148 over the last quarter. Corporate insiders own 3.85% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on the company. Wall Street Zen upgraded First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Piper Sandler began coverage on First Busey in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $30.00 target price on the stock. Hovde Group began coverage on First Busey in a research note on Monday, June 30th. They issued a "market perform" rating and a $25.00 target price on the stock. Raymond James Financial boosted their target price on First Busey from $25.00 to $27.00 and gave the company an "outperform" rating in a research note on Tuesday, July 8th. Finally, Stephens restated an "equal weight" rating and issued a $26.00 target price on shares of First Busey in a research note on Wednesday, April 23rd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and an average price target of $27.67.

First Busey Stock Performance

NASDAQ:BUSE opened at $24.14 on Tuesday. The stock has a fifty day moving average price of $22.95 and a 200-day moving average price of $22.55. The company has a market cap of $2.16 billion, a price-to-earnings ratio of 22.56 and a beta of 0.77. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. First Busey Corporation has a fifty-two week low of $18.40 and a fifty-two week high of $28.97.

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

First Busey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 25th. Shareholders of record on Friday, July 18th will be given a $0.25 dividend. The ex-dividend date of this dividend is Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 4.14%. First Busey's dividend payout ratio is presently 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.

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