First Busey Corporation $BUSE Shares Sold by Osborne Partners Capital Management LLC

Osborne Partners Capital Management LLC trimmed its position in First Busey Corporation (NASDAQ:BUSE) by 41.8% during the first quarter, Holdings Channel.com reports. The firm owned 210,214 shares of the bank’s stock after selling 150,924 shares during the period. Osborne Partners Capital Management LLC’s holdings in First Busey were worth $5,312,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. MPS Loria Financial Planners LLC raised its holdings in First Busey by 1.1% during the fourth quarter. MPS Loria Financial Planners LLC now owns 36,803 shares of the bank’s stock worth $876,000 after purchasing an additional 405 shares in the last quarter. CANADA LIFE ASSURANCE Co lifted its holdings in shares of First Busey by 5.1% in the 2nd quarter. CANADA LIFE ASSURANCE Co now owns 13,237 shares of the bank’s stock valued at $303,000 after purchasing an additional 640 shares during the last quarter. Legal & General Group Plc boosted its position in shares of First Busey by 0.7% in the 3rd quarter. Legal & General Group Plc now owns 91,585 shares of the bank’s stock valued at $2,120,000 after purchasing an additional 646 shares during the period. Inspire Investing LLC boosted its position in shares of First Busey by 3.7% in the 1st quarter. Inspire Investing LLC now owns 20,335 shares of the bank’s stock valued at $514,000 after purchasing an additional 725 shares during the period. Finally, Russell Investments Group Ltd. grew its stake in First Busey by 0.8% during the 4th quarter. Russell Investments Group Ltd. now owns 91,534 shares of the bank’s stock worth $2,178,000 after buying an additional 758 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

First Busey Stock Performance

Shares of BUSE opened at $29.65 on Friday. 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 $2.51 billion, a P/E ratio of 13.18 and a beta of 0.72. The company’s fifty day moving average is $27.55 and its two-hundred day moving average is $26.10. First Busey Corporation has a 1 year low of $21.63 and a 1 year high of $30.52.

First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.10. The business had revenue of $197.17 million for the quarter, compared to the consensus estimate of $197.15 million. First Busey had a net margin of 19.16% and a return on equity of 10.19%. On average, sell-side analysts predict that First Busey Corporation will post 2.58 earnings per share for the current year.

First Busey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 24th were given a $0.26 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.04 dividend on an annualized basis and a yield of 3.5%. First Busey’s dividend payout ratio (DPR) is presently 46.22%.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on BUSE. Stephens increased 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. Weiss Ratings raised shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Piper Sandler upped their price target on shares of First Busey from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Raymond James Financial increased their price target on shares of First Busey from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $29.60.

Insider Buying and Selling

In other First Busey news, CAO Scott A. Phillips acquired 5,000 shares of the stock in a transaction on Monday, May 4th. The shares were bought at an average price 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. This trade represents a 149.25% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 3.77% of the stock is currently owned by insiders.

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.