Osborne Partners Capital Management LLC Sells 20,000 Shares of First Busey Corporation (NASDAQ:BUSE)

Osborne Partners Capital Management LLC cut its position in First Busey Corporation (NASDAQ:BUSE - Free Report) by 5.2% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 367,110 shares of the bank's stock after selling 20,000 shares during the quarter. Osborne Partners Capital Management LLC owned about 0.64% of First Busey worth $7,930,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in BUSE. CANADA LIFE ASSURANCE Co raised its holdings in First Busey by 10.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 7,396 shares of the bank's stock valued at $174,000 after acquiring an additional 690 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings 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 acquiring an additional 985 shares in the last quarter. Swiss National Bank raised its holdings in First Busey by 0.9% in the 4th quarter. Swiss National Bank now owns 111,799 shares of the bank's stock valued at $2,635,000 after acquiring an additional 1,000 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in First Busey by 161.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank's stock valued at $40,000 after acquiring an additional 1,047 shares in the last quarter. Finally, Rhumbline Advisers raised its holdings in First Busey by 1.3% in the 4th quarter. Rhumbline Advisers now owns 84,997 shares of the bank's stock valued at $2,003,000 after acquiring an additional 1,081 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, Director Karen M. Jensen bought 4,000 shares of the stock in a transaction on Friday, May 30th. The stock was acquired at an average price of $22.00 per share, with a total value of $88,000.00. Following the acquisition, the director now directly owns 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 legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Steven W. Caple bought 1,175 shares of the stock in a transaction on Friday, May 23rd. The stock was purchased at an average cost of $21.60 per share, with a total value of $25,380.00. Following the acquisition, the director now owns 4,509 shares in the company, valued at approximately $97,394.40. This represents a 35.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought a total of 13,125 shares of company stock valued at $286,148 in the last 90 days. Corporate insiders own 3.85% of the company's stock.

First Busey Price Performance

First Busey stock opened at $22.48 on Friday. 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 52 week low of $18.40 and a 52 week high of $28.97. The stock has a market capitalization of $2.01 billion, a P/E ratio of 21.01 and a beta of 0.78. The stock has a fifty day moving average of $21.70 and a 200-day moving average of $22.80.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.57 EPS for the quarter, topping 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 company had revenue of $140.72 million during the quarter, compared to analysts' expectations of $140.15 million. On average, sell-side analysts expect that First Busey Corporation will post 2.61 earnings per share for the current fiscal year.

First Busey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 18th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 4.45%. First Busey's payout ratio is presently 93.46%.

Analyst Upgrades and Downgrades

BUSE has been the subject of several analyst reports. DA Davidson reaffirmed a "neutral" rating and issued a $25.00 price objective on shares of First Busey in a report on Tuesday, February 25th. Stephens reaffirmed an "equal weight" rating and issued a $26.00 price objective on shares of First Busey in a report on Wednesday, April 23rd. Wall Street Zen raised First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Finally, Raymond James Financial lowered their price target on First Busey from $29.00 to $27.00 and set an "outperform" rating for the company in a report on Wednesday, April 2nd. Three research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat.com, First Busey currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.80.

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.

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