Vanguard Group Inc. Sells 42,260 Shares of First Busey Corporation $BUSE

Vanguard Group Inc. decreased its stake in shares of First Busey Corporation (NASDAQ:BUSE) by 0.8% in the 4th quarter, Holdings Channel reports. The fund owned 5,036,573 shares of the bank’s stock after selling 42,260 shares during the quarter. Vanguard Group Inc. owned 0.06% of First Busey worth $119,820,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Wellington Management Group LLP raised its stake in shares of First Busey by 94.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank’s stock valued at $165,196,000 after purchasing an additional 3,464,965 shares during the period. Stieven Capital Advisors L.P. bought a new stake in First Busey in the 3rd quarter valued at approximately $9,607,000. ProShare Advisors LLC boosted its position in First Busey by 88.2% during the 3rd quarter. ProShare Advisors LLC now owns 533,142 shares of the bank’s stock worth $12,342,000 after acquiring an additional 249,908 shares during the last quarter. Mirabella Financial Services LLP grew its stake in shares of First Busey by 23.2% during the 3rd quarter. Mirabella Financial Services LLP now owns 1,082,338 shares of the bank’s stock worth $25,056,000 after acquiring an additional 203,464 shares in the last quarter. Finally, Jane Street Group LLC raised its holdings in shares of First Busey by 1,659.8% in the first quarter. Jane Street Group LLC now owns 172,810 shares of the bank’s stock valued at $3,733,000 after purchasing an additional 162,990 shares during the last quarter. 56.49% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

BUSE has been the subject of a number of analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $27.00 target price on shares of First Busey in a research report on Thursday, January 29th. Weiss Ratings upgraded shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday. Stephens lifted their target price on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Finally, Piper Sandler upped their target price on First Busey from $29.00 to $30.00 and gave the stock an “overweight” rating in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $27.50.

Insider Activity at First Busey

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

First Busey Stock Performance

Shares of BUSE opened at $26.15 on Wednesday. The company has a market cap of $2.21 billion, a PE ratio of 11.62 and a beta of 0.72. The firm has a 50-day moving average of $25.75 and a 200-day moving average of $24.89. First Busey Corporation has a one year low of $21.41 and a one year high of $27.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.91.

First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. First Busey had a net margin of 19.16% and a return on equity of 10.19%. The company had revenue of $197.17 million for the quarter, compared to analysts’ expectations of $197.15 million. As a group, equities analysts forecast that First Busey Corporation will post 2.57 earnings per share for the current year.

First Busey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 24th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, April 24th. First Busey’s dividend payout ratio (DPR) is presently 46.22%.

About First Busey

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.