Empowered Funds LLC Grows Position in First Busey Corporation $BUSE

Empowered Funds LLC lifted its position in shares of First Busey Corporation (NASDAQ:BUSE) by 16.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 475,547 shares of the bank’s stock after purchasing an additional 65,745 shares during the quarter. Empowered Funds LLC owned 0.56% of First Busey worth $12,017,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in BUSE. Savvy Advisors Inc. purchased a new stake in First Busey during the fourth quarter worth $2,905,000. Northwestern Mutual Wealth Management Co. increased its holdings in First Busey by 36,664.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock valued at $74,510,000 after buying an additional 3,123,454 shares in the last quarter. Sunesis Advisors LLC acquired a new position in shares of First Busey in the fourth quarter worth about $3,732,000. Assenagon Asset Management S.A. acquired a new position in shares of First Busey in the first quarter worth about $1,743,000. Finally, LSV Asset Management raised its position in shares of First Busey by 8.0% in the fourth quarter. LSV Asset Management now owns 1,384,661 shares of the bank’s stock worth $32,941,000 after acquiring an additional 102,904 shares during the period. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Stock Performance

NASDAQ:BUSE opened at $30.72 on Thursday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. The stock has a market capitalization of $2.60 billion, a PE ratio of 12.69 and a beta of 0.72. First Busey Corporation has a fifty-two week low of $21.63 and a fifty-two week high of $31.33. The company has a fifty day moving average of $28.74 and a two-hundred day moving average of $26.76.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. The business had revenue of $194.27 million for the quarter, compared to analyst estimates of $197.59 million. First Busey had a net margin of 21.00% and a return on equity of 10.42%. As a group, research analysts forecast that First Busey Corporation will post 2.6 earnings per share for the current fiscal year.

First Busey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be paid a $0.26 dividend. The ex-dividend date of this dividend is Friday, July 24th. This represents a $1.04 dividend on an annualized basis and a yield of 3.4%. First Busey’s dividend payout ratio (DPR) is currently 46.22%.

Insiders Place Their Bets

In other news, CAO Scott A. Phillips acquired 5,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were bought at an average cost of $25.90 per share, for a total transaction of $129,500.00. Following the acquisition, the chief accounting officer owned 8,350 shares in the company, valued at approximately $216,265. This represents a 149.25% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 3.77% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently commented on BUSE shares. Wall Street Zen cut First Busey from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Zacks Research raised First Busey from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Raymond James Financial increased their price target on First Busey from $28.00 to $32.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 1st. Piper Sandler raised their price objective on First Busey from $30.00 to $32.00 and gave the company an “overweight” rating in a report on Friday, June 26th. Finally, Stephens raised their price objective on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $29.75.

Key Headlines Impacting First Busey

Here are the key news stories impacting First Busey this week:

• Positive Sentiment: First Busey reported diluted earnings of $0.69 per share, up from $0.52 a year ago and above analyst expectations of approximately $0.63–$0.65. Net income rose to $63.2 million from $47.4 million in the prior-year quarter. First Busey Q2 Earnings Top Estimates
• Positive Sentiment: Profitability improved, with adjusted return on average assets reaching 1.43%, adjusted return on tangible common equity reaching 14.61% and the efficiency ratio improving to 54.0% from 55.3% a year earlier.
• Positive Sentiment: Deposit balances grew 11% on an annualized basis during the quarter, while the loan-to-deposit ratio improved to 87.2%. The Common Equity Tier 1 ratio increased to 12.53%, supporting balance-sheet strength and future capital deployment.
• Positive Sentiment: Wealth management delivered a third consecutive record quarter for fee income, with assets under care rising to $16.51 billion. Busey also repurchased 2.34 million shares for $63.1 million and paid a $0.26 common-stock dividend.
• Positive Sentiment: Net interest margin expanded year over year to 3.72%, while net charge-offs declined to 0.19%. The company’s conservative credit approach and $8.85 billion of available liquidity provide additional investor support.
• Neutral Sentiment: Quarterly revenue of approximately $194.3 million fell short of the roughly $197.6 million analyst consensus. Net interest income also declined modestly from the first quarter as loan balances and purchase-accounting accretion decreased. First Busey Reports Sales Below Analyst Estimates
• Negative Sentiment: Nonperforming assets increased $20.4 million sequentially to $70.3 million, and classified assets also rose. Although credit losses and net charge-offs remained manageable, the deterioration warrants monitoring, particularly given First Busey’s commercial real estate exposure.

First Busey 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.