First Busey (NASDAQ:BUSE) Director Michael David Cassens Sells 750 Shares

Key Points

• Director Michael David Cassens sold 750 shares on April 15 at an average price of $26.75 (≈$20,062.50) under a Rule 10b5‑1 plan, trimming his stake by 0.53% to 140,888 shares.
• First Busey declared a quarterly dividend of $0.26 (annualized $1.04) yielding about 4.0%, with record/ex‑dividend dates on April 24 and a payment date of May 1; the payout ratio is roughly 80.6%.
• The company beat quarterly estimates with EPS of $0.68 versus $0.61 expected and revenue of $201.78M versus $197.7M, and analysts hold an average "Moderate Buy" rating with a $27.17 target (Piper Sandler $29).

First Busey Corporation (NASDAQ:BUSE - Get Free Report) Director Michael David Cassens sold 750 shares of the firm's stock in a transaction on Wednesday, April 15th. The stock was sold at an average price of $26.75, for a total value of $20,062.50. Following the completion of the sale, the director directly owned 140,888 shares of the company's stock, valued at $3,768,754. The trade was a 0.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Michael David Cassens also recently made the following trade(s):

• On Tuesday, February 17th, Michael David Cassens sold 750 shares of First Busey stock. The stock was sold at an average price of $26.61, for a total value of $19,957.50.

First Busey Trading Down 1.5%

BUSE stock traded down $0.39 on Thursday, reaching $26.20. The company's stock had a trading volume of 339,117 shares, compared to its average volume of 631,111. The business has a fifty day simple moving average of $25.72 and a two-hundred day simple moving average of $24.48. First Busey Corporation has a 12-month low of $19.55 and a 12-month high of $27.65. The firm has a market cap of $2.24 billion, a PE ratio of 20.31 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91.

First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.07. First Busey had a return on equity of 9.46% and a net margin of 12.96%.The company had revenue of $201.78 million during the quarter, compared to analyst estimates of $197.70 million. As a group, research analysts forecast that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, May 1st. Investors of record on Friday, April 24th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, April 24th. This represents a $1.04 dividend on an annualized basis and a yield of 4.0%. First Busey's dividend payout ratio (DPR) is presently 80.62%.

Hedge Funds Weigh In On First Busey

A number of institutional investors have recently added to or reduced their stakes in BUSE. Parkside Financial Bank & Trust bought a new stake in First Busey in the 4th quarter worth about $28,000. Litman Gregory Wealth Management LLC bought a new stake in First Busey in the 4th quarter worth about $30,000. Allworth Financial LP increased its holdings in 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 buying an additional 888 shares in the last quarter. Torren Management LLC bought a new stake in First Busey in the 4th quarter worth about $40,000. Finally, Geneos Wealth Management Inc. increased its holdings in First Busey by 726.1% in 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 in the last quarter. Institutional investors own 56.49% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on BUSE shares. DA Davidson reiterated a "neutral" rating and issued a $27.00 price objective on shares of First Busey in a report on Thursday, January 29th. Weiss Ratings upgraded First Busey from a "hold (c+)" rating to a "buy (b-)" rating in a report on Tuesday, March 3rd. Stephens started coverage on First Busey in a report on Friday, March 27th. They issued an "equal weight" rating and a $27.00 price objective for the company. Finally, Piper Sandler increased their price objective on First Busey from $26.00 to $29.00 and gave the stock an "overweight" rating in a report on Friday, January 30th. 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 has an average rating of "Moderate Buy" and an average target price of $27.17.

First Busey Company 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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