Lee Financial Co Buys Shares of 11,503 First Busey Corporation $BUSE

Key Points

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Lee Financial Co acquired a new position in shares of First Busey Corporation (NASDAQ:BUSE - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 11,503 shares of the bank's stock, valued at approximately $248,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Signaturefd LLC grew its holdings in shares of First Busey by 23.7% during the first quarter. Signaturefd LLC now owns 2,524 shares of the bank's stock worth $55,000 after purchasing an additional 483 shares in the last quarter. M&T Bank Corp grew its holdings in shares of First Busey by 2.6% during the first quarter. M&T Bank Corp now owns 21,069 shares of the bank's stock worth $455,000 after purchasing an additional 528 shares in the last quarter. Cresset Asset Management LLC grew its holdings in shares of First Busey by 2.7% during the first quarter. Cresset Asset Management LLC now owns 20,633 shares of the bank's stock worth $446,000 after purchasing an additional 538 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its position in First Busey by 10.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 7,396 shares of the bank's stock worth $174,000 after buying an additional 690 shares during the last quarter. Finally, PNC Financial Services Group Inc. lifted its position 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 worth $49,000 after buying an additional 812 shares during the last quarter. Hedge funds and other institutional investors own 56.49% of the company's stock.

First Busey Stock Performance

Shares of BUSE stock opened at $23.19 on Tuesday. The company has a debt-to-equity ratio of 0.11, 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 $28.30. The stock has a 50 day moving average price of $23.24 and a two-hundred day moving average price of $22.54. The company has a market capitalization of $2.07 billion, a P/E ratio of 20.71 and a beta of 0.81.

First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.02. First Busey had a return on equity of 8.76% and a net margin of 9.48%. The firm had revenue of $192.05 million during the quarter, compared to the consensus estimate of $193.91 million. Analysts expect that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 18th were given a $0.25 dividend. The ex-dividend date was Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 4.3%. First Busey's payout ratio is presently 89.29%.

Analyst Ratings Changes

BUSE has been the subject of a number of recent research reports. Stephens restated an "equal weight" rating and issued a $26.00 target price on shares of First Busey in a research report on Wednesday, April 23rd. Keefe, Bruyette & Woods dropped their target price on First Busey from $30.00 to $29.00 and set an "outperform" rating for the company in a research report on Thursday, July 24th. Raymond James Financial boosted their target price on First Busey from $25.00 to $27.00 and gave the stock an "outperform" rating in a research report on Tuesday, July 8th. Wall Street Zen upgraded First Busey from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Finally, Piper Sandler initiated coverage on First Busey in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $30.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $27.17.

Insider Activity at First Busey

In other First Busey news, Director Steven W. Caple bought 1,175 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was bought at an average price of $21.60 per share, for a total transaction of $25,380.00. Following the completion of the acquisition, the director directly owned 4,509 shares in the company, valued at $97,394.40. The trade was a 35.24% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen M. Jensen bought 2,500 shares of the firm's stock in a transaction that occurred on Friday, July 25th. The shares were acquired at an average price of $23.25 per share, with a total value of $58,125.00. Following the acquisition, the director owned 83,568 shares of the company's stock, valued at $1,942,956. This represents a 3.08% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders acquired 15,625 shares of company stock valued at $344,273 in the last quarter. 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.

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