Peregrine Capital Management LLC Has $4.78 Million Position in First Busey Corporation (NASDAQ:BUSE)

Peregrine Capital Management LLC trimmed its holdings in First Busey Corporation (NASDAQ:BUSE - Free Report) by 5.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 221,126 shares of the bank's stock after selling 12,132 shares during the quarter. Peregrine Capital Management LLC owned approximately 0.39% of First Busey worth $4,776,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. PNC Financial Services Group Inc. grew its position in First Busey by 1,173.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,439 shares of the bank's stock valued at $34,000 after buying an additional 1,326 shares during the last quarter. Meeder Asset Management Inc. increased its stake 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 purchasing an additional 1,047 shares in the last quarter. Sterling Capital Management LLC boosted its position in shares of First Busey by 822.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank's stock worth $40,000 after buying an additional 1,522 shares in the last quarter. Quarry LP grew its position in shares of First Busey by 507.5% in the fourth quarter. Quarry LP now owns 1,786 shares of the bank's stock valued at $42,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in First Busey during the first quarter worth $43,000. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Stock Performance

Shares of NASDAQ BUSE traded up $0.32 during mid-day trading on Friday, hitting $24.36. The company had a trading volume of 364,133 shares, compared to its average volume of 406,761. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. The stock has a market cap of $2.18 billion, a price-to-earnings ratio of 22.77 and a beta of 0.77. First Busey Corporation has a 12 month low of $18.40 and a 12 month high of $28.97. The firm's 50 day simple moving average is $22.41 and its two-hundred day simple moving average is $22.56.

First Busey (NASDAQ:BUSE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.57 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. The business had revenue of $140.72 million during the quarter, compared to analyst estimates of $140.15 million. First Busey had a return on equity of 8.46% and a net margin of 8.32%. As a group, equities research analysts forecast that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Shareholders of record on Friday, April 18th were given a $0.25 dividend. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a yield of 4.11%. First Busey's dividend payout ratio (DPR) is 93.46%.

Insider Transactions at First Busey

In other First Busey news, Director Karen M. Jensen bought 5,500 shares of First Busey stock in a transaction that occurred on Friday, May 23rd. The stock was purchased at an average cost of $21.70 per share, for a total transaction of $119,350.00. Following the completion of the acquisition, the director owned 72,068 shares of the company's stock, valued at approximately $1,563,875.60. This represents a 8.26% increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Caple bought 1,175 shares of the business's stock in a transaction dated Friday, May 23rd. The shares were bought at an average cost of $21.60 per share, for a total transaction of $25,380.00. Following the completion of the transaction, the director directly owned 4,509 shares of the company's stock, valued at $97,394.40. This trade represents a 35.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last ninety days, insiders have purchased 13,125 shares of company stock worth $286,148. 3.85% of the stock is owned by corporate insiders.

Analyst Ratings Changes

BUSE has been the topic of several recent analyst reports. Piper Sandler started coverage on shares of First Busey in a research note on Tuesday. They set an "overweight" rating and a $30.00 price objective on the stock. Stephens reaffirmed an "equal weight" rating and set a $26.00 price target on shares of First Busey in a research report on Wednesday, April 23rd. Hovde Group started coverage on First Busey in a research note on Monday. They issued a "market perform" rating and a $25.00 target price for the company. Raymond James Financial cut their price objective on shares of First Busey from $29.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Finally, Wall Street Zen upgraded shares of First Busey from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $27.67.

About First Busey

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.