Sunesis Advisors LLC Makes New Investment in First Busey Corporation $BUSE

Key Points

• Sunesis Advisors LLC opened a new position in First Busey, acquiring 156,862 shares worth about $3.73 million (≈1.7% of Sunesis's portfolio), and holds roughly 0.18% of the company after the purchase.
• First Busey beat Q1 EPS estimates ($0.67 vs. $0.57) with revenue essentially in line, has a $2.28 billion market cap and P/E of 11.8, and pays a $0.26 quarterly dividend (≈3.9% yield).
• Analyst sentiment is broadly positive—consensus is a Moderate Buy with an average price target of $27.50, and several firms (e.g., Piper Sandler, Weiss) have raised ratings or targets, including a $30 target from Piper Sandler.

Sunesis Advisors LLC acquired a new position in First Busey Corporation (NASDAQ:BUSE - Free Report) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 156,862 shares of the bank's stock, valued at approximately $3,732,000. First Busey makes up about 1.7% of Sunesis Advisors LLC's investment portfolio, making the stock its 11th biggest position. Sunesis Advisors LLC owned about 0.18% of First Busey as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently bought and sold shares of the company. Torren Management LLC acquired a new position in First Busey in the fourth quarter worth $40,000. Geneos Wealth Management Inc. boosted its stake in First Busey by 726.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank's stock worth $49,000 after purchasing an additional 2,004 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in First Busey in the third quarter worth $86,000. CIBC Private Wealth Group LLC boosted its stake in First Busey by 111.9% in the third quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank's stock worth $91,000 after purchasing an additional 2,070 shares in the last quarter. Finally, Comerica Bank boosted its stake in First Busey by 1,167.4% in the fourth quarter. Comerica Bank now owns 4,892 shares of the bank's stock worth $116,000 after purchasing an additional 4,506 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on BUSE. DA Davidson reissued a "neutral" rating and issued a $27.00 price objective on shares of First Busey in a research note on Thursday, January 29th. Stephens boosted their target price on First Busey from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research report on Thursday. Weiss Ratings upgraded First Busey from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Tuesday, March 3rd. Finally, Piper Sandler boosted their target price on First Busey from $29.00 to $30.00 and gave the stock an "overweight" rating in a research report on Thursday. Four research 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 presently has a consensus rating of "Moderate Buy" and an average price target of $27.50.

First Busey Trading Up 1.6%

BUSE stock opened at $26.61 on Friday. The company has a market cap of $2.28 billion, a P/E ratio of 11.83 and a beta of 0.72. First Busey Corporation has a twelve month low of $20.91 and a twelve month high of $27.65. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.12. The business has a fifty day moving average of $25.67 and a 200-day moving average of $24.74.

First Busey (NASDAQ:BUSE - Get Free Report) last released its earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, topping analysts' consensus estimates of $0.57 by $0.10. The company had revenue of $197.17 million during the quarter, compared to the consensus estimate of $197.15 million. First Busey had a return on equity of 10.16% and a net margin of 19.16%. As a group, equities research analysts expect that First Busey Corporation will post 2.57 EPS for the current year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 24th were issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.9%. The ex-dividend date was Friday, April 24th. First Busey's dividend payout ratio is currently 46.22%.

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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