First Busey Co. (NASDAQ:BUSE) Shares Acquired by Nuveen Asset Management LLC

Nuveen Asset Management LLC boosted its position in shares of First Busey Co. (NASDAQ:BUSE - Free Report) by 13.1% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 391,478 shares of the bank's stock after purchasing an additional 45,257 shares during the period. Nuveen Asset Management LLC owned about 0.69% of First Busey worth $9,227,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BUSE. Millennium Management LLC increased its stake in First Busey by 121.0% in the fourth quarter. Millennium Management LLC now owns 565,001 shares of the bank's stock worth $13,317,000 after purchasing an additional 309,301 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of First Busey by 3.4% in 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 last quarter. Graham Capital Management L.P. bought a new position in shares of First Busey in the fourth quarter worth about $211,000. Deutsche Bank AG increased its stake in First Busey by 58.4% in the 4th quarter. Deutsche Bank AG now owns 45,976 shares of the bank's stock worth $1,084,000 after buying an additional 16,954 shares during the period. Finally, Cubist Systematic Strategies LLC lifted its holdings in First Busey by 14.6% during the 4th quarter. Cubist Systematic Strategies LLC now owns 49,910 shares of the bank's stock valued at $1,176,000 after buying an additional 6,364 shares in the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Stock Down 0.3%

Shares of NASDAQ BUSE traded down $0.07 during trading hours on Friday, hitting $22.18. 605,826 shares of the stock were exchanged, compared to its average volume of 366,537. First Busey Co. has a 12 month low of $18.40 and a 12 month high of $28.97. The firm has a fifty day moving average price of $21.16 and a 200-day moving average price of $23.21. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market cap of $1.98 billion, a PE ratio of 11.26 and a beta of 0.75.

First Busey (NASDAQ:BUSE - Get Free Report) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.53 by $0.04. The business had revenue of $140.72 million for the quarter, compared to analyst estimates of $140.15 million. First Busey had a net margin of 17.14% and a return on equity of 8.94%. On average, sell-side analysts expect that First Busey Co. will post 2.61 EPS for the current year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 annualized dividend and a dividend yield of 4.51%. First Busey's dividend payout ratio (DPR) is currently 93.46%.

Insider Activity at First Busey

In related news, Director Stanley J. Bradshaw bought 1,700 shares of the stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $21.70 per share, for a total transaction of $36,890.00. Following the completion of the purchase, the director now directly owns 482,143 shares of the company's stock, valued at $10,462,503.10. This represents a 0.35% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Karen M. Jensen purchased 5,500 shares of First Busey stock in a transaction that occurred on Friday, May 23rd. The shares were bought at an average price of $21.70 per share, with a total value of $119,350.00. Following the completion of the transaction, the director now owns 72,068 shares of the company's stock, valued at $1,563,875.60. This represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 10,375 shares of company stock valued at $225,250 in the last three months. 3.85% of the stock is owned by insiders.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Piper Sandler reduced their target price on shares of First Busey from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. Keefe, Bruyette & Woods restated an "outperform" rating and set a $33.00 price objective (down from $34.00) on shares of First Busey in a report on Thursday, January 30th. Wall Street Zen upgraded First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Stephens restated an "equal weight" rating and set a $26.00 price target on shares of First Busey in a research note on Wednesday, April 23rd. Finally, DA Davidson restated a "neutral" rating and issued a $25.00 price objective on shares of First Busey in a report on Tuesday, February 25th. Three analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, First Busey currently has an average rating of "Moderate Buy" and an average price target 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.