Insider Selling: First Busey (NASDAQ:BUSE) Director Sells $19,027.50 in Stock

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 750 shares of the stock in a transaction on Monday, December 15th. The shares were sold at an average price of $25.37, for a total value of $19,027.50. Following the completion of the sale, the director owned 140,781 shares of the company’s stock, valued at $3,571,613.97. The trade was a 0.53% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

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

• On Friday, November 14th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $22.92, for a total value of $17,190.00.

First Busey Stock Down 1.2%

Shares of First Busey stock opened at $25.00 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11. First Busey Corporation has a 1 year low of $18.40 and a 1 year high of $25.62. The stock has a 50-day moving average price of $23.48 and a 200 day moving average price of $23.52. The company has a market cap of $2.21 billion, a P/E ratio of 21.74 and a beta of 0.80.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Friday, May 20th. The bank reported $0.69 earnings per share (EPS) for the quarter. First Busey had a net margin of 11.00% and a return on equity of 9.05%. The business had revenue of $63.34 million during the quarter. As a group, analysts expect that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 24th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.0%. The ex-dividend date was Friday, October 24th. First Busey’s payout ratio is currently 86.96%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Raymond James Financial reiterated an “outperform” rating and set a $26.00 price objective (down from $28.00) on shares of First Busey in a report on Thursday, October 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Busey in a research note on Monday. Finally, Piper Sandler reduced their price target on First Busey from $30.00 to $26.00 and set an “overweight” rating for the company in a report on Friday, October 31st. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $26.33.

Institutional Trading of First Busey

Institutional investors and hedge funds have recently made changes to their positions in the stock. PNC Financial Services Group Inc. boosted its holdings 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 valued at $49,000 after acquiring an additional 812 shares during the period. Geneos Wealth Management Inc. lifted its position in shares of First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after purchasing an additional 2,004 shares during the last quarter. Signaturefd LLC boosted its stake in First Busey by 34.3% during the 2nd quarter. Signaturefd LLC now owns 3,389 shares of the bank’s stock valued at $78,000 after purchasing an additional 865 shares during the period. State of Alaska Department of Revenue bought a new stake in First Busey during the 3rd quarter valued at approximately $86,000. Finally, CIBC Private Wealth Group LLC grew its holdings in First Busey by 111.9% in the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank’s stock valued at $91,000 after buying an additional 2,070 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

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.