UMB Bank n.a. Has $2.01 Million Stake in First Busey Corporation $BUSE

Key Points

• UMB Bank n.a. reduced its stake in First Busey Corporation by 15.0%, owning 87,757 shares valued at approximately $2.01 million following the sale of 15,500 shares.
• Insider transactions included Director Karen M. Jensen buying 3,000 shares for around $73,800, increasing her ownership position by 3.58%.
• First Busey's quarterly earnings showed an EPS of $0.63, beating estimates, while a recent dividend of $0.25 per share resulted in a yield of 4.0%.

UMB Bank n.a. lowered its holdings in First Busey Corporation (NASDAQ:BUSE - Free Report) by 15.0% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,757 shares of the bank's stock after selling 15,500 shares during the period. UMB Bank n.a. owned about 0.10% of First Busey worth $2,008,000 at the end of the most recent quarter.

A number of other large investors have also recently bought and sold shares of the business. Wealth Enhancement Advisory Services LLC bought a new position in First Busey in the second quarter worth about $1,499,000. Voya Investment Management LLC lifted its holdings in First Busey by 71.9% in the first quarter. Voya Investment Management LLC now owns 60,886 shares of the bank's stock worth $1,315,000 after acquiring an additional 25,458 shares during the last quarter. Rhumbline Advisers lifted its holdings in First Busey by 50.3% in the first quarter. Rhumbline Advisers now owns 127,748 shares of the bank's stock worth $2,759,000 after acquiring an additional 42,751 shares during the last quarter. Strs Ohio bought a new position in First Busey in the first quarter worth about $460,000. Finally, Geneos Wealth Management Inc. lifted its holdings 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 acquiring an additional 2,004 shares during the last quarter. Institutional investors own 56.49% of the company's stock.

First Busey Price Performance

First Busey stock traded down $0.18 during mid-day trading on Tuesday, hitting $24.37. The company's stock had a trading volume of 134,302 shares, compared to its average volume of 527,813. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.17 billion, a P/E ratio of 21.79 and a beta of 0.82. First Busey Corporation has a twelve month low of $18.40 and a twelve month high of $28.30. The stock's fifty day moving average price is $23.78 and its two-hundred day moving average price is $22.58.

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

First Busey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.1%. The ex-dividend date was Friday, July 18th. First Busey's payout ratio is presently 89.29%.

Insider Activity at First Busey

In related news, CFO Scott A. Phillips bought 1,000 shares of the firm's stock in a transaction 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 purchase, the chief financial officer directly owned 1,000 shares of the company's stock, valued at approximately $25,250. This represents a ∞ increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Karen M. Jensen bought 3,000 shares of the firm's stock in a transaction on Friday, September 12th. The shares were bought at an average cost of $24.60 per share, with a total value of $73,800.00. Following the purchase, the director directly owned 86,798 shares in the company, valued at approximately $2,135,230.80. This trade represents a 3.58% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last quarter, insiders have acquired 6,500 shares of company stock worth $157,175. Corporate insiders own 3.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. DA Davidson lifted their price target on First Busey from $23.00 to $26.00 and gave the company a "neutral" rating in a report on Thursday, July 24th. Piper Sandler assumed coverage on First Busey in a report on Tuesday, July 1st. They set an "overweight" rating and a $30.00 price target on the stock. Hovde Group assumed coverage on First Busey in a report on Monday, June 30th. They set a "market perform" rating and a $25.00 price target on the stock. Raymond James Financial reaffirmed an "outperform" rating and set a $28.00 price target (up previously from $27.00) on shares of First Busey in a report on Friday, August 29th. Finally, Keefe, Bruyette & Woods cut their price target on First Busey from $30.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $27.33.

First Busey 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.