Bridgeway Capital Management LLC Has $12.81 Million Position in First Busey Corporation $BUSE

Key Points

• Bridgeway Capital Management LLC increased its stake in First Busey Corporation by 57.8% during the 1st quarter, owning 593,076 shares valued at approximately $12.81 million.
• First Busey declared a quarterly dividend of $0.25, resulting in an annualized yield of 4.1% with a payout ratio of 89.29%.
• Analysts maintain a consensus rating of "Moderate Buy" on the stock, with price targets ranging from $25.00 to $30.00.

Bridgeway Capital Management LLC boosted its holdings in First Busey Corporation (NASDAQ:BUSE - Free Report) by 57.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 593,076 shares of the bank's stock after buying an additional 217,331 shares during the period. Bridgeway Capital Management LLC owned approximately 1.04% of First Busey worth $12,810,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Signaturefd LLC increased its position in shares of First Busey by 23.7% during the first quarter. Signaturefd LLC now owns 2,524 shares of the bank's stock valued at $55,000 after purchasing an additional 483 shares during the period. M&T Bank Corp boosted its stake in First Busey by 2.6% in the 1st quarter. M&T Bank Corp now owns 21,069 shares of the bank's stock valued at $455,000 after buying an additional 528 shares in the last quarter. Cresset Asset Management LLC boosted its stake in First Busey by 2.7% in the 1st quarter. Cresset Asset Management LLC now owns 20,633 shares of the bank's stock valued at $446,000 after buying an additional 538 shares in the last quarter. PNC Financial Services Group Inc. boosted its stake in First Busey by 56.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank's stock valued at $49,000 after buying an additional 812 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in First Busey by 3.4% in the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the bank's stock valued at $714,000 after buying an additional 985 shares in the last quarter. 56.49% of the stock is owned by institutional investors.

First Busey Trading Down 0.4%

Shares of BUSE stock traded down $0.09 on Friday, reaching $24.68. 373,562 shares of the stock were exchanged, compared to its average volume of 441,584. The stock has a market cap of $2.20 billion, a PE ratio of 22.04 and a beta of 0.82. First Busey Corporation has a one year low of $18.40 and a one year high of $28.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a 50 day moving average price of $23.65 and a 200 day moving average price of $22.51.

First Busey (NASDAQ:BUSE - Get Free Report) last released its earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. The company had revenue of $192.05 million during the quarter, compared to the consensus estimate of $193.91 million. First Busey had a return on equity of 8.76% and a net margin of 9.48%. Equities research analysts forecast that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.1%. The ex-dividend date was Friday, July 18th. First Busey's dividend payout ratio is currently 89.29%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the company. Hovde Group assumed coverage on First Busey in a research note on Monday, June 30th. They issued a "market perform" rating and a $25.00 price target on the stock. Raymond James Financial reissued an "outperform" rating and issued a $28.00 price objective (up previously from $27.00) on shares of First Busey in a research note on Friday, August 29th. DA Davidson boosted 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. Keefe, Bruyette & Woods reduced 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, Wall Street Zen raised First Busey from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $27.33.

Insider Transactions at First Busey

In related news, CFO Scott A. Phillips acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was acquired at an average price of $25.25 per share, for a total transaction of $25,250.00. Following the completion of the acquisition, the chief financial officer owned 1,000 shares of the company's stock, valued at $25,250. This trade represents a ∞ increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Karen M. Jensen acquired 2,500 shares of the company's stock in a transaction that occurred on Friday, July 25th. The stock was bought at an average price of $23.25 per share, with a total value of $58,125.00. Following the acquisition, the director directly owned 83,568 shares of the company's stock, valued at $1,942,956. The trade was a 3.08% increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 3.85% of the company's stock.

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.