Financial Partners Group Inc Purchases Shares of 10,680 First Busey Corporation (NASDAQ:BUSE)

Financial Partners Group Inc acquired a new position in shares of First Busey Corporation (NASDAQ:BUSE - Free Report) in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 10,680 shares of the bank's stock, valued at approximately $231,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. raised its holdings 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 worth $34,000 after acquiring an additional 1,326 shares during the period. Meeder Asset Management Inc. raised its stake in shares of First Busey by 161.1% in the fourth quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank's stock worth $40,000 after acquiring an additional 1,047 shares during the last quarter. Sterling Capital Management LLC raised its stake in shares of First Busey by 822.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank's stock worth $40,000 after buying an additional 1,522 shares during the last quarter. Quarry LP increased its stake in First Busey by 507.5% in the fourth quarter. Quarry LP now owns 1,786 shares of the bank's stock valued at $42,000 after purchasing an additional 1,492 shares in the last quarter. Finally, Golden State Wealth Management LLC acquired a new position in shares of First Busey in the first quarter valued at approximately $43,000. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at First Busey

In other news, Director Karen M. Jensen bought 4,000 shares of the stock in a transaction on Friday, May 30th. The stock was purchased at an average price of $22.00 per share, for a total transaction of $88,000.00. Following the acquisition, the director owned 76,068 shares in the company, valued at approximately $1,673,496. This trade represents a 5.55% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Steven W. Caple acquired 1,175 shares of the business's stock in a transaction on Friday, May 23rd. The shares were 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 directly owned 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 disclosure for this purchase can be found here. Over the last quarter, insiders bought 13,125 shares of company stock worth $286,148. Corporate insiders own 3.85% of the company's stock.

Analyst Ratings Changes

BUSE has been the topic of several recent analyst reports. Hovde Group initiated coverage on shares of First Busey in a report on Monday, June 30th. They set a "market perform" rating and a $25.00 price target on the stock. Raymond James Financial boosted their price target on shares of First Busey from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Piper Sandler assumed coverage on shares of First Busey in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $30.00 price target on the stock. 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, Wall Street Zen upgraded shares of First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company. Based on data from MarketBeat, First Busey presently has an average rating of "Hold" and a consensus price target of $27.67.

First Busey Stock Up 0.8%

BUSE stock traded up $0.20 during mid-day trading on Tuesday, reaching $24.34. The company had a trading volume of 64,566 shares, compared to its average volume of 417,930. 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. The company has a market capitalization of $2.18 billion, a price-to-earnings ratio of 22.74 and a beta of 0.77. The firm has a fifty day simple moving average of $22.95 and a 200 day simple moving average of $22.55.

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

First Busey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Investors of record on Friday, July 18th will be given a dividend of $0.25 per share. The ex-dividend date is Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 4.11%. 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.

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.