Rhino Investment Partners Inc Has $12.44 Million Stock Holdings in First Busey Corporation $BUSE

Rhino Investment Partners Inc boosted its position in shares of First Busey Corporation (NASDAQ:BUSE - Free Report) by 101.3% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 492,113 shares of the bank's stock after acquiring an additional 247,589 shares during the period. First Busey accounts for 3.5% of Rhino Investment Partners Inc's holdings, making the stock its 10th biggest position. Rhino Investment Partners Inc owned 0.58% of First Busey worth $12,436,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new position in shares of First Busey during the fourth quarter worth $28,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of First Busey during the 4th quarter valued at $30,000. Allworth Financial LP boosted its position 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 worth $38,000 after purchasing an additional 888 shares in the last quarter. Torren Management LLC acquired a new stake in shares of First Busey in the 4th quarter worth $40,000. Finally, Geneos Wealth Management Inc. grew its stake in First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank's stock worth $49,000 after buying an additional 2,004 shares during the last quarter. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently issued reports on the company. Stephens upped their target price on First Busey from $27.00 to $28.00 and gave the company an "equal weight" rating in a research report on Thursday, April 30th. Weiss Ratings upgraded First Busey from a "buy (b-)" rating to a "buy (b)" rating in a research note on Monday, May 11th. Raymond James Financial boosted their price target on First Busey from $28.00 to $32.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 1st. Zacks Research upgraded shares of First Busey from a "hold" rating to a "strong-buy" rating in a report on Tuesday, July 21st. Finally, Wall Street Zen lowered shares of First Busey from a "hold" rating to a "sell" rating in a research report on Sunday, July 12th. One analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $29.75.

Insiders Place Their Bets

In other First Busey news, CAO Scott A. Phillips purchased 5,000 shares of the business's stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the acquisition, the chief accounting officer owned 8,350 shares in the company, valued at $216,265. This represents a 149.25% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Company insiders own 3.77% of the company's stock.

First Busey Stock Performance

Shares of BUSE stock opened at $30.23 on Wednesday. The business has a fifty day moving average of $28.66 and a 200 day moving average of $26.72. First Busey Corporation has a 1 year low of $21.63 and a 1 year high of $30.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.44 and a beta of 0.72.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The business had revenue of $194.27 million for the quarter, compared to the consensus estimate of $197.59 million. First Busey had a return on equity of 10.19% and a net margin of 19.16%. As a group, research analysts expect that First Busey Corporation will post 2.6 earnings per share for the current year.

First Busey Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be given a $0.26 dividend. The ex-dividend date is Friday, July 24th. This represents a $1.04 dividend on an annualized basis and a yield of 3.4%. First Busey's dividend payout ratio is currently 46.22%.

About First Busey

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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