Insider Selling: First Busey (NASDAQ:BUSE) Director Sells $18,180.00 in Stock

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 750 shares of the business’s stock in a transaction dated Thursday, January 15th. The shares were sold at an average price of $24.24, for a total value of $18,180.00. Following the sale, the director directly owned 140,031 shares of the company’s stock, valued at $3,394,351.44. This represents a 0.53% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

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

• On Monday, December 15th, Michael David Cassens sold 750 shares of First Busey stock. The stock was sold at an average price of $25.37, for a total value of $19,027.50.
• 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 Trading Up 0.9%

Shares of NASDAQ:BUSE opened at $25.71 on Friday. The stock has a 50 day moving average of $24.14 and a 200 day moving average of $23.75. The company has a market cap of $2.27 billion, a PE ratio of 22.36 and a beta of 0.79. First Busey Corporation has a 12-month low of $18.40 and a 12-month high of $26.08. 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 (NASDAQ:BUSE) last released its earnings results on Tuesday, October 28th. The bank reported $0.64 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.02. The company had revenue of $197.46 million for the quarter, compared to analysts’ expectations of $196.07 million. First Busey had a net margin of 11.00% and a return on equity of 9.05%. As a group, equities research analysts expect that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, January 30th. Investors of record on Friday, January 23rd will be issued a $0.26 dividend. The ex-dividend date of this dividend is Friday, January 23rd. This represents a $1.04 annualized dividend and a yield of 4.0%. This is an increase from First Busey’s previous quarterly dividend of $0.25. First Busey’s payout ratio is currently 86.96%.

Institutional Investors Weigh In On First Busey

Hedge funds have recently made changes to their positions in the company. Daytona Street Capital LLC purchased a new position in First Busey during the 4th quarter valued at approximately $318,000. Savvy Advisors Inc. purchased a new stake in shares of First Busey during the 4th quarter worth approximately $2,905,000. Canvas Wealth Advisors LLC bought a new position in shares of First Busey during the 4th quarter valued at approximately $1,702,000. SG Americas Securities LLC grew its holdings in shares of First Busey by 31.5% in the fourth quarter. SG Americas Securities LLC now owns 38,442 shares of the bank’s stock valued at $915,000 after purchasing an additional 9,202 shares in the last quarter. Finally, Mirabella Financial Services LLP grew its holdings in shares of First Busey by 23.2% in the third quarter. Mirabella Financial Services LLP now owns 1,082,338 shares of the bank’s stock valued at $25,056,000 after purchasing an additional 203,464 shares in the last quarter. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. Weiss Ratings restated a “hold (c+)” rating on shares of First Busey in a research report on Monday, December 29th. Piper Sandler lowered their price target on First Busey from $30.00 to $26.00 and set an “overweight” rating on the stock in a report on Friday, October 31st. Finally, Raymond James Financial restated an “outperform” rating and issued a $26.00 price target (down from $28.00) on shares of First Busey in a research note on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat, First Busey currently has an average rating of “Hold” and an average target price of $26.33.

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.