Curi RMB Capital LLC Buys Shares of 350,000 First Busey Corporation $BUSE

Key Points

• Curi RMB Capital LLC has acquired 350,000 shares of First Busey Corporation, valued at approximately $7.56 million, representing a 0.61% stake in the company.
• First Busey recently announced a quarterly dividend of $0.25 per share, with a total annualized dividend of $1.00 and a yield of 4.0%.
• The stock's current price is $24.77, with analysts predicting a consensus price target of $27.33, reflecting strong potential for future growth.

Curi RMB Capital LLC bought a new stake in First Busey Corporation (NASDAQ:BUSE - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 350,000 shares of the bank's stock, valued at approximately $7,560,000. Curi RMB Capital LLC owned approximately 0.61% of First Busey as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently bought and sold shares of the company. Millennium Management LLC lifted its stake in First Busey by 121.0% in the 4th quarter. Millennium Management LLC now owns 565,001 shares of the bank's stock valued at $13,317,000 after acquiring an additional 309,301 shares in the last quarter. Amalgamated Bank raised its stake in shares of First Busey by 59.3% during the 1st quarter. Amalgamated Bank now owns 2,881 shares of the bank's stock worth $62,000 after purchasing an additional 1,073 shares in the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of First Busey during the 1st quarter worth approximately $263,000. Cambridge Investment Research Advisors Inc. bought a new stake in shares of First Busey during the 1st quarter worth approximately $372,000. Finally, Rosenthal Henry Capital Advisors Inc. bought a new stake in shares of First Busey during the 1st quarter worth approximately $1,081,000. Institutional investors own 56.49% of the company's stock.

First Busey Stock Up 1.4%

BUSE opened at $24.77 on Friday. First Busey Corporation has a 1-year low of $18.40 and a 1-year high of $28.30. The stock's fifty day simple moving average is $23.62 and its 200 day simple moving average is $22.52. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market cap of $2.21 billion, a PE ratio of 22.12 and a beta of 0.82.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, beating analysts' consensus estimates of $0.61 by $0.02. The business had revenue of $192.05 million for the quarter, compared to analysts' expectations of $193.91 million. First Busey had a return on equity of 8.76% and a net margin of 9.48%. As a group, research analysts expect that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 18th were given a dividend of $0.25 per share. The ex-dividend date was Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 4.0%. First Busey's dividend payout ratio (DPR) is presently 89.29%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Hovde Group assumed coverage on First Busey in a research note on Monday, June 30th. They set a "market perform" rating and a $25.00 price objective on the stock. DA Davidson upped their price objective on First Busey from $23.00 to $26.00 and gave the stock a "neutral" rating in a research note on Thursday, July 24th. Piper Sandler assumed coverage on First Busey in a research note on Tuesday, July 1st. They set an "overweight" rating and a $30.00 price objective on the stock. Keefe, Bruyette & Woods dropped their price objective on First Busey from $30.00 to $29.00 and set an "outperform" rating on the stock in a research note on Thursday, July 24th. Finally, Raymond James Financial restated an "outperform" rating and issued a $28.00 price target (up previously from $27.00) on shares of First Busey in a research note on Friday, August 29th. Three research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.33.

Insider Buying and Selling at First Busey

In other news, Director Karen M. Jensen acquired 2,500 shares of the stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $23.25 per share, for a total transaction of $58,125.00. Following the transaction, the director directly owned 83,568 shares of the company's stock, valued at approximately $1,942,956. This represents a 3.08% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Scott A. Phillips acquired 1,000 shares of the stock in a transaction on Tuesday, August 19th. The shares were purchased at an average price of $25.25 per share, for a total transaction of $25,250.00. Following the transaction, the chief financial officer directly owned 1,000 shares in the company, valued at approximately $25,250. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. 3.85% of the stock is owned by company 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.

Want to see what other hedge funds are holding BUSE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Busey Corporation (NASDAQ:BUSE - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.