Quantinno Capital Management LP Buys 44,551 Shares of First Busey Corporation $BUSE

Key Points

• Quantinno Capital Management increased its First Busey stake by 45.5% during the first quarter, acquiring 44,551 shares and ending with 142,447 shares valued at approximately $3.6 million. Institutional investors collectively own 56.49% of the company.
• First Busey reported quarterly EPS of $0.69, exceeding the $0.63 consensus estimate, while revenue of $194.27 million fell short of analyst expectations. The bank also maintains a quarterly dividend of $0.26, representing a 3.4% annualized yield.
• Analyst sentiment is broadly positive, with the stock holding a consensus “Moderate Buy” rating and an average price target of $32.00, compared with a recent share price of $30.98.

Quantinno Capital Management LP lifted its stake in shares of First Busey Corporation (NASDAQ:BUSE - Free Report) by 45.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 142,447 shares of the bank's stock after acquiring an additional 44,551 shares during the period. Quantinno Capital Management LP owned approximately 0.17% of First Busey worth $3,600,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in BUSE. Parkside Financial Bank & Trust bought a new stake in First Busey in the 4th quarter valued at $28,000. Litman Gregory Wealth Management LLC bought a new position in First Busey during the 4th quarter worth about $30,000. Allworth Financial LP raised its stake in shares of First Busey by 127.8% in the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank's stock valued at $38,000 after purchasing an additional 888 shares during the period. Torren Management LLC acquired a new stake in shares of First Busey in the 4th quarter valued at about $40,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of First Busey by 726.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank's stock valued at $49,000 after purchasing an additional 2,004 shares in the last quarter. Institutional investors own 56.49% of the company's stock.

First Busey Price Performance

Shares of NASDAQ BUSE opened at $30.98 on Friday. The stock has a market capitalization of $2.62 billion, a price-to-earnings ratio of 12.80 and a beta of 0.72. The business has a 50-day moving average of $29.30 and a 200-day moving average of $27.09. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. First Busey Corporation has a fifty-two week low of $22.00 and a fifty-two week high of $31.70.

First Busey (NASDAQ:BUSE - Get Free Report) last released its earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.63 by $0.06. The business had revenue of $194.27 million for the quarter, compared to analyst estimates of $197.59 million. First Busey had a return on equity of 10.42% and a net margin of 21.00%. As a group, sell-side analysts predict that First Busey Corporation will post 2.67 earnings per share for the current fiscal year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, July 24th. First Busey's dividend payout ratio is presently 42.98%.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the company. Stephens upped their price objective on First Busey from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Thursday, April 30th. Keefe, Bruyette & Woods boosted their target price on First Busey from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Friday, July 31st. Piper Sandler upped their price target on First Busey from $32.00 to $35.00 and gave the stock an "overweight" rating in a research report on Thursday, July 30th. Raymond James Financial upped their price target on First Busey from $28.00 to $32.00 and gave the stock an "outperform" rating in a research report on Wednesday, July 1st. Finally, DA Davidson lifted their price objective on shares of First Busey from $30.00 to $31.00 and gave the company a "neutral" rating in a report on Thursday, July 30th. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

First Busey Profile

First Busey NASDAQ: BUSE is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.

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