First Busey Corporation (NASDAQ:BUSE) Director Buys $58,125.00 in Stock

Key Points

• Director Purchase: First Busey Corporation Director Karen M. Jensen bought 2,500 shares for $58,125, increasing her stake by 3.08% to a total of 83,568 shares valued at nearly $1.94 million.
• Dividends and Earnings: The firm announced a quarterly dividend of $0.25, reflecting a 4.39% yield, and reported Q2 earnings of $0.63 EPS, surpassing estimates.
• Analyst Ratings: Equity analysts maintain a consensus "Hold" rating on First Busey shares, with a price target averaging $27.17, with some firms suggesting potential upside to $30.00.

First Busey Corporation (NASDAQ:BUSE - Get Free Report) Director Karen M. Jensen purchased 2,500 shares of the firm's stock in a transaction on Friday, July 25th. The shares were acquired at an average price of $23.25 per share, with a total value of $58,125.00. Following the purchase, the director directly owned 83,568 shares in the company, valued at $1,942,956. This represents a 3.08% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

First Busey Stock Performance

NASDAQ BUSE traded down $0.25 on Tuesday, hitting $22.78. 461,156 shares of the stock traded hands, compared to its average volume of 531,645. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. The business's fifty day moving average is $23.09 and its two-hundred day moving average is $22.59. First Busey Corporation has a 12 month low of $18.40 and a 12 month high of $28.30. The firm has a market capitalization of $2.04 billion, a price-to-earnings ratio of 20.34 and a beta of 0.77.

First Busey (NASDAQ:BUSE - Get Free Report) last issued its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, beating the consensus estimate of $0.61 by $0.02. First Busey had a net margin of 9.48% and a return on equity of 9.76%. The company had revenue of $192.05 million during the quarter, compared to analysts' expectations of $193.91 million. As a group, equities analysts anticipate that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 18th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a yield of 4.39%. First Busey's dividend payout ratio is currently 89.29%.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BUSE shares. Stephens reiterated an "equal weight" rating and set a $26.00 price target on shares of First Busey in a research note on Wednesday, April 23rd. Wall Street Zen upgraded First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Piper Sandler began coverage on First Busey in a report on Tuesday, July 1st. They set an "overweight" rating and a $30.00 price target for the company. Hovde Group started coverage on First Busey in a research report on Monday, June 30th. They issued a "market perform" rating and a $25.00 price target for the company. Finally, DA Davidson lifted their target price on shares of First Busey from $23.00 to $26.00 and gave the stock a "neutral" rating in a research report on Thursday, July 24th. Four investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, First Busey currently has a consensus rating of "Hold" and a consensus price target of $27.17.

Institutional Investors Weigh In On First Busey

A number of large investors have recently added to or reduced their stakes in BUSE. Sterling Capital Management LLC boosted its holdings in shares of First Busey by 822.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank's stock worth $40,000 after purchasing an additional 1,522 shares in the last quarter. Meeder Asset Management Inc. lifted its position in First Busey by 161.1% in the 4th quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank's stock worth $40,000 after buying an additional 1,047 shares during the last quarter. Quarry LP boosted its stake in First Busey by 507.5% in the fourth quarter. Quarry LP now owns 1,786 shares of the bank's stock worth $42,000 after buying an additional 1,492 shares in the last quarter. Golden State Wealth Management LLC bought a new position in First Busey during the first quarter valued at approximately $43,000. Finally, PNC Financial Services Group Inc. raised its stake in shares of First Busey by 56.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank's stock worth $49,000 after acquiring an additional 812 shares in the last quarter. Hedge funds and other institutional investors own 56.49% of the company's stock.

About First Busey

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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