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

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 750 shares of First Busey stock in a transaction on Friday, November 14th. The shares were sold at an average price of $22.92, for a total value of $17,190.00. Following the transaction, the director directly owned 141,531 shares of the company’s stock, valued at approximately $3,243,890.52. The trade was a 0.53% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.

First Busey Price Performance

Shares of NASDAQ:BUSE traded up $0.23 on Tuesday, hitting $22.40. The stock had a trading volume of 85,934 shares, compared to its average volume of 506,473. The firm’s 50 day moving average price is $23.42 and its 200-day moving average price is $23.21. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. First Busey Corporation has a twelve month low of $18.40 and a twelve month high of $28.30. The company has a market capitalization of $1.98 billion, a price-to-earnings ratio of 19.46 and a beta of 0.82.

First Busey (NASDAQ:BUSE) last announced 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 during the quarter. First Busey had a net margin of 11.00% and a return on equity of 9.56%. On average, equities research analysts predict that First Busey Corporation 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, October 31st. Stockholders 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 dividend on an annualized basis and a dividend yield of 4.5%. First Busey’s payout ratio is 86.96%.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. boosted its stake in shares of First Busey by 56.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank’s stock valued at $49,000 after purchasing an additional 812 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in First Busey by 726.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after buying an additional 2,004 shares during the period. Signaturefd LLC lifted its holdings in First Busey by 23.7% in the first quarter. Signaturefd LLC now owns 2,524 shares of the bank’s stock valued at $55,000 after buying an additional 483 shares during the period. State of Alaska Department of Revenue bought a new position in First Busey in the third quarter valued at approximately $86,000. Finally, CWM LLC grew its holdings in First Busey by 103.8% during the 1st quarter. CWM LLC now owns 5,322 shares of the bank’s stock worth $115,000 after acquiring an additional 2,711 shares during the period. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BUSE has been the topic of a number of research analyst reports. Piper Sandler decreased their price target on First Busey from $30.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Raymond James Financial reissued an “outperform” rating and issued a $26.00 price objective (down previously from $28.00) on shares of First Busey in a research note on Thursday, October 30th. DA Davidson lifted their price target on First Busey from $23.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, July 24th. Keefe, Bruyette & Woods decreased their price objective on shares of First Busey from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, July 24th. Finally, Weiss Ratings restated a “hold (c)” rating on shares of First Busey in a research report on Tuesday, November 11th. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $26.33.

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.