Kavar Capital Partners Group LLC Makes New $1.80 Million Investment in First Busey Corporation (NASDAQ:BUSE)

Kavar Capital Partners Group LLC acquired a new position in shares of First Busey Corporation (NASDAQ:BUSE - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The fund acquired 83,432 shares of the bank's stock, valued at approximately $1,802,000. Kavar Capital Partners Group LLC owned approximately 0.15% of First Busey at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in First Busey by 3.3% during the 4th 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 in the last quarter. American Century Companies Inc. increased its stake in First Busey by 5.5% during the 4th 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 in the last quarter. Charles Schwab Investment Management Inc. increased its stake in First Busey by 1.9% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 707,323 shares of the bank's stock worth $16,672,000 after buying an additional 12,879 shares in the last quarter. JPMorgan Chase & Co. increased its stake in First Busey by 39.2% during the 4th 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 in the last quarter. Finally, Northern Trust Corp increased its stake in First Busey by 6.0% during the 4th 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 in the last quarter. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

First Busey Price Performance

Shares of BUSE stock traded down $0.20 during trading hours on Friday, reaching $23.22. The company had a trading volume of 1,247,614 shares, compared to its average volume of 398,076. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a fifty day moving average of $22.08 and a 200-day moving average of $22.58. The company has a market capitalization of $2.08 billion, a price-to-earnings ratio of 21.70 and a beta of 0.78. First Busey Corporation has a 12-month low of $18.40 and a 12-month high of $28.97.

First Busey (NASDAQ:BUSE - Get Free Report) last released its quarterly earnings data 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 for the quarter, compared to analysts' expectations of $140.15 million. On average, equities analysts anticipate that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 18th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 4.31%. The ex-dividend date of this dividend was Thursday, April 17th. First Busey's dividend payout ratio is presently 93.46%.

Insider Activity at First Busey

In other First Busey news, Director Steven W. Caple acquired 1,175 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $21.60 per share, for a total transaction of $25,380.00. Following the completion of the acquisition, the director now owns 4,509 shares of the company's stock, valued at approximately $97,394.40. The trade was a 35.24% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Karen M. Jensen acquired 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The stock was acquired at an average price of $22.00 per share, for a total transaction of $88,000.00. Following the completion of the acquisition, the director now directly owns 76,068 shares of the company's stock, valued at $1,673,496. The trade was a 5.55% increase in their position. The disclosure for this purchase can be found here. Over the last three months, insiders have acquired 13,125 shares of company stock worth $286,148. Insiders own 3.85% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BUSE shares. Raymond James Financial dropped their price target on First Busey from $29.00 to $27.00 and set an "outperform" rating for the company in a research report on Wednesday, April 2nd. Wall Street Zen upgraded First Busey from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Stephens restated an "equal weight" rating and issued a $26.00 price target on shares of First Busey in a research report on Wednesday, April 23rd. Three equities research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $27.80.

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.