CX Institutional Acquires Shares of 11,892 First Busey Corporation (NASDAQ:BUSE)

CX Institutional acquired a new stake in First Busey Corporation (NASDAQ:BUSE - Free Report) in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 11,892 shares of the bank's stock, valued at approximately $257,000.

Several other large investors have also modified their holdings of BUSE. CANADA LIFE ASSURANCE Co grew its stake in shares of First Busey by 10.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 7,396 shares of the bank's stock valued at $174,000 after purchasing an additional 690 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Busey by 3.4% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the bank's stock worth $714,000 after purchasing an additional 985 shares during the period. Swiss National Bank lifted its holdings in shares of First Busey by 0.9% during the fourth quarter. Swiss National Bank now owns 111,799 shares of the bank's stock worth $2,635,000 after purchasing an additional 1,000 shares during the period. Meeder Asset Management Inc. grew 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 buying an additional 1,047 shares during the last quarter. Finally, Rhumbline Advisers increased its stake in First Busey by 1.3% in the 4th quarter. Rhumbline Advisers now owns 84,997 shares of the bank's stock valued at $2,003,000 after buying an additional 1,081 shares during the period. 56.49% of the stock is owned by institutional investors and hedge funds.

First Busey Trading Up 1.4%

NASDAQ BUSE traded up $0.31 during trading hours on Wednesday, hitting $22.55. 279,456 shares of the company's stock were exchanged, compared to its average volume of 385,707. The business's 50 day moving average is $21.60 and its 200-day moving average is $22.83. 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 12-month low of $18.40 and a 12-month high of $28.97. The firm has a market capitalization of $2.02 billion, a P/E ratio of 21.04 and a beta of 0.78.

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 net margin of 8.32% and a return on equity of 8.46%. The business had revenue of $140.72 million for the quarter, compared to analyst estimates of $140.15 million. As a group, 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 was paid on Friday, April 25th. Investors of record on Friday, April 18th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.44%. The ex-dividend date was Thursday, April 17th. First Busey's dividend payout ratio (DPR) is currently 93.46%.

Wall Street Analysts Forecast Growth

BUSE has been the subject of several recent analyst reports. DA Davidson restated a "neutral" rating and issued a $25.00 target price on shares of First Busey in a research note on Tuesday, February 25th. Wall Street Zen upgraded shares of First Busey from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Stephens reiterated an "equal weight" rating and set a $26.00 target price on shares of First Busey in a research report on Wednesday, April 23rd. Finally, Raymond James Financial dropped their price objective on shares of 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 equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $27.80.

Insider Activity at First Busey

In other First Busey news, Director Steven W. Caple acquired 1,175 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was bought at an average price of $21.60 per share, with a total value of $25,380.00. Following the completion of the transaction, the director now directly owns 4,509 shares of the company's stock, valued at approximately $97,394.40. The trade was a 35.24% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Karen M. Jensen bought 4,000 shares of the firm's stock in a transaction dated Friday, May 30th. The stock was bought at an average cost of $22.00 per share, with a total value of $88,000.00. Following the transaction, the director now directly owns 76,068 shares of the company's stock, valued at approximately $1,673,496. This trade represents a 5.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 13,125 shares of company stock worth $286,148. 3.85% of the stock is 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.