Insider Buying: First Busey (NASDAQ:BUSE) CAO Purchases 1,350 Shares of Stock

First Busey Corporation (NASDAQ:BUSE) CAO Scott Phillips purchased 1,350 shares of the business’s stock in a transaction on Friday, October 31st. The stock was bought at an average cost of $25.64 per share, for a total transaction of $34,614.00. Following the purchase, the chief accounting officer owned 2,350 shares of the company’s stock, valued at approximately $60,254. This represents a 135.00% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

First Busey Stock Down 0.2%

Shares of BUSE traded down $0.04 during midday trading on Tuesday, hitting $22.66. The stock had a trading volume of 545,883 shares, compared to its average volume of 515,923. The company has a 50 day simple moving average of $23.77 and a two-hundred day simple moving average of $23.05. First Busey Corporation has a twelve month low of $18.40 and a twelve month high of $28.30. The firm has a market cap of $2.02 billion, a price-to-earnings ratio of 19.70 and a beta of 0.77. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Friday, May 20th. The bank reported $0.69 earnings per share (EPS) for the quarter. The firm had revenue of $63.34 million for the quarter. First Busey had a return on equity of 9.56% and a net margin of 11.00%. On average, analysts anticipate that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 24th were paid a $0.25 dividend. The ex-dividend date was Friday, October 24th. This represents a $1.00 annualized dividend and a yield of 4.4%. First Busey’s payout ratio is 86.96%.

Analyst Ratings Changes

A number of research firms have recently weighed in on BUSE. Raymond James Financial reissued an “outperform” rating and set a $26.00 target price (down previously from $28.00) on shares of First Busey in a report on Thursday, October 30th. Keefe, Bruyette & Woods reduced their target price on shares of First Busey from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. Weiss Ratings reissued a “hold (c)” rating on shares of First Busey in a research report on Wednesday, October 8th. Piper Sandler reduced their target price on shares of First Busey from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday. Finally, DA Davidson boosted their target price on shares of First Busey from $23.00 to $26.00 and gave the company a “neutral” rating in a research report on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $26.33.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Golden State Wealth Management LLC acquired a new position in First Busey during the first quarter worth about $43,000. PNC Financial Services Group Inc. raised its stake in 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. Geneos Wealth Management Inc. raised its stake in First Busey by 726.1% during 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 in the last quarter. Signaturefd LLC raised its stake in First Busey by 23.7% during the first quarter. Signaturefd LLC now owns 2,524 shares of the bank’s stock worth $55,000 after acquiring an additional 483 shares in the last quarter. Finally, Amalgamated Bank raised its stake in First Busey by 59.3% during the first quarter. Amalgamated Bank now owns 2,881 shares of the bank’s stock worth $62,000 after acquiring an additional 1,073 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

First Busey Company 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.