According to Zacks, “First Busey Corporation is a financial holding company located in Urbana, Illinois. First Busey is engaged primarily in commercial, retail and correspondent banking and provides trust services, insurance services, and travel services. “
Several other research firms have also recently weighed in on BUSE. B. Riley reissued a neutral rating on shares of New York Community Bancorp in a research note on Wednesday, April 10th. BidaskClub raised shares of Northrim BanCorp from a sell rating to a hold rating in a research note on Tuesday, May 7th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and two have issued a buy rating to the stock. First Busey has a consensus rating of Hold and an average target price of $30.50.
BUSE stock traded down $0.02 during mid-day trading on Monday, reaching $26.27. The company’s stock had a trading volume of 4,748 shares, compared to its average volume of 132,765. The stock has a market cap of $1.49 billion, a PE ratio of 12.48, a PEG ratio of 2.10 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 0.85. First Busey has a fifty-two week low of $23.13 and a fifty-two week high of $33.08. The company’s 50 day moving average price is $25.65.
First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.48 EPS for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). First Busey had a net margin of 25.94% and a return on equity of 10.23%. The business had revenue of $94.33 million during the quarter, compared to analyst estimates of $96.24 million. On average, research analysts forecast that First Busey will post 2.13 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Stockholders of record on Friday, July 19th will be paid a $0.21 dividend. The ex-dividend date of this dividend is Thursday, July 18th. This represents a $0.84 annualized dividend and a dividend yield of 3.20%. First Busey’s dividend payout ratio (DPR) is 40.00%.
In related news, Director Stanley J. Bradshaw acquired 1,183 shares of the stock in a transaction that occurred on Thursday, May 30th. The stock was purchased at an average price of $24.95 per share, with a total value of $29,515.85. Following the transaction, the director now owns 4,195 shares of the company’s stock, valued at approximately $104,665.25. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Thomas G. Sloan acquired 8,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average cost of $25.91 per share, with a total value of $207,280.00. Following the transaction, the director now directly owns 231,471 shares in the company, valued at approximately $5,997,413.61. The disclosure for this purchase can be found here. In the last three months, insiders bought 69,955 shares of company stock valued at $1,859,546. Corporate insiders own 7.50% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Great West Life Assurance Co. Can boosted its position in shares of First Busey by 137.7% during the 4th quarter. Great West Life Assurance Co. Can now owns 4,636 shares of the bank’s stock worth $110,000 after purchasing an additional 2,686 shares during the period. Amundi Pioneer Asset Management Inc. purchased a new position in shares of First Busey during the 4th quarter worth approximately $120,000. Northwestern Mutual Wealth Management Co. boosted its position in shares of First Busey by 474.7% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,960 shares of the bank’s stock worth $170,000 after purchasing an additional 5,749 shares during the period. Legal & General Group Plc boosted its position in shares of First Busey by 10.3% during the 4th quarter. Legal & General Group Plc now owns 7,893 shares of the bank’s stock worth $194,000 after purchasing an additional 738 shares during the period. Finally, Centric Wealth Management purchased a new position in shares of First Busey during the 2nd quarter worth approximately $206,000. 45.88% of the stock is owned by hedge funds and other institutional investors.
First Busey Company Profile
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
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