UMB Bank n.a. Invests $2.23 Million in First Busey Co. (NASDAQ:BUSE)

UMB Bank n.a. bought a new stake in First Busey Co. (NASDAQ:BUSE - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 103,257 shares of the bank's stock, valued at approximately $2,230,000. UMB Bank n.a. owned about 0.18% of First Busey as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in First Busey by 50.3% in the first quarter. Rhumbline Advisers now owns 127,748 shares of the bank's stock valued at $2,759,000 after acquiring an additional 42,751 shares during the last quarter. GAMMA Investing LLC increased its stake in First Busey by 3,182.9% in the first quarter. GAMMA Investing LLC now owns 4,990 shares of the bank's stock valued at $108,000 after acquiring an additional 4,838 shares during the last quarter. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in First Busey in the fourth quarter valued at $3,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in First Busey by 39.7% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 124,488 shares of the bank's stock valued at $2,934,000 after acquiring an additional 35,360 shares during the last quarter. Finally, Voloridge Investment Management LLC increased its stake in First Busey by 596.4% in the fourth quarter. Voloridge Investment Management LLC now owns 133,264 shares of the bank's stock valued at $3,141,000 after acquiring an additional 114,129 shares during the last quarter. Institutional investors own 56.49% of the company's stock.

First Busey Stock Up 2.2%

Shares of NASDAQ:BUSE opened at $22.73 on Monday. The stock's 50-day moving average price is $21.21 and its 200-day moving average price is $23.02. First Busey Co. has a 12-month low of $18.40 and a 12-month high of $28.97. The stock has a market capitalization of $2.03 billion, a P/E ratio of 11.54 and a beta of 0.78. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.

First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.57 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.53 by $0.04. The firm had revenue of $140.72 million for the quarter, compared to analysts' expectations of $140.15 million. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, equities analysts anticipate that First Busey Co. will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.40%. First Busey's dividend payout ratio is currently 93.46%.

Analysts Set New Price Targets

A number of research firms recently commented on BUSE. Wall Street Zen raised First Busey from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Raymond James reduced their target price on First Busey from $29.00 to $27.00 and set an "outperform" rating on the stock in a research note on Wednesday, April 2nd. DA Davidson reaffirmed a "neutral" rating and set a $25.00 price objective on shares of First Busey in a research note on Tuesday, February 25th. Finally, Stephens reaffirmed an "equal weight" rating and set a $26.00 price objective on shares of First Busey in a research note on Wednesday, April 23rd. Three research analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $27.80.

Insider Transactions at First Busey

In other news, Director Karen M. Jensen bought 4,000 shares of the company's stock in a transaction dated Friday, May 30th. The stock was bought at an average cost of $22.00 per share, for a total transaction of $88,000.00. Following the completion of the acquisition, the director now owns 76,068 shares in the company, valued at approximately $1,673,496. This trade represents a 5.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Stanley J. Bradshaw bought 1,700 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were purchased at an average price of $21.70 per share, with a total value of $36,890.00. Following the completion of the acquisition, the director now owns 482,143 shares of the company's stock, valued at $10,462,503.10. This trade represents a 0.35% increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders bought 14,825 shares of company stock worth $323,038. Company insiders own 3.85% of the company's stock.

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.

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