Quantbot Technologies LP Grows Stock Holdings in First Busey Corporation $BUSE

Key Points

• Quantbot Technologies LP increased its holdings in First Busey Corporation by 52.8% during the first quarter, owning approximately 41,548 shares valued at $897,000.
• Brokerages have varied ratings on First Busey stock, with Piper Sandler setting an "overweight" rating and a price target of $30, while the average target price across analysts is currently $27.17.
• The bank declared a quarterly dividend of $0.25 per share, representing a 4.1% yield, with a total annualized dividend of $1.00 and a payout ratio of 89.29%.

Quantbot Technologies LP raised its position in shares of First Busey Corporation (NASDAQ:BUSE - Free Report) by 52.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,548 shares of the bank's stock after purchasing an additional 14,363 shares during the period. Quantbot Technologies LP owned 0.07% of First Busey worth $897,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also bought and sold shares of the company. Quarry LP grew its holdings in First Busey by 507.5% during 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 period. Golden State Wealth Management LLC bought a new position in First Busey during the first quarter valued at $43,000. PNC Financial Services Group Inc. boosted its holdings in shares of First Busey by 56.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank's stock worth $49,000 after acquiring an additional 812 shares during the period. Signaturefd LLC boosted its holdings in shares of First Busey by 23.7% in the first quarter. Signaturefd LLC now owns 2,524 shares of the bank's stock worth $55,000 after acquiring an additional 483 shares during the period. Finally, Amalgamated Bank boosted its holdings in shares of First Busey by 59.3% in the first quarter. Amalgamated Bank now owns 2,881 shares of the bank's stock worth $62,000 after acquiring an additional 1,073 shares during the period. 56.49% of the stock is owned by institutional investors.

Insider Buying and Selling at First Busey

In other First Busey news, CFO Scott A. Phillips acquired 1,000 shares of the company's stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average price of $25.25 per share, with a total value of $25,250.00. Following the completion of the purchase, the chief financial officer owned 1,000 shares of the company's stock, valued at approximately $25,250. This represents a ∞ increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen M. Jensen purchased 2,500 shares of the stock in a transaction on Friday, July 25th. The shares were purchased at an average price of $23.25 per share, for a total transaction of $58,125.00. Following the transaction, the director directly owned 83,568 shares of the company's stock, valued at approximately $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 have purchased 3,950 shares of company stock valued at $93,163 in the last three months. 3.85% of the stock is owned by corporate insiders.

First Busey Price Performance

NASDAQ:BUSE traded up $0.01 during trading hours on Friday, hitting $24.70. 505,147 shares of the company's stock traded hands, compared to its average volume of 473,278. The firm has a market cap of $2.20 billion, a P/E ratio of 22.05 and a beta of 0.81. First Busey Corporation has a 52 week low of $18.40 and a 52 week high of $28.30. The business's fifty day simple moving average is $23.50 and its two-hundred day simple moving average is $22.51. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

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

First Busey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 18th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 4.0%. First Busey's dividend payout ratio (DPR) is currently 89.29%.

Wall Street Analyst Weigh In

BUSE has been the subject of a number of analyst reports. Piper Sandler initiated coverage on First Busey in a report on Tuesday, July 1st. They issued an "overweight" rating and a $30.00 price target for the company. Keefe, Bruyette & Woods cut their price target on First Busey from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday, July 24th. Hovde Group initiated coverage on First Busey in a report on Monday, June 30th. They issued a "market perform" rating and a $25.00 price target for the company. DA Davidson raised their price target on First Busey from $23.00 to $26.00 and gave the stock a "neutral" rating in a report on Thursday, July 24th. Finally, Wall Street Zen raised First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Three analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, First Busey has an average rating of "Moderate Buy" and a consensus price target of $27.33.

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.