LSV Asset Management Grows Position in First Busey Corporation $BUSE

LSV Asset Management lifted its position in First Busey Corporation (NASDAQ:BUSE) by 2.2% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,337,957 shares of the bank’s stock after purchasing an additional 28,900 shares during the period. LSV Asset Management’s holdings in First Busey were worth $30,619,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. grew its holdings in First Busey by 52.2% in the 1st quarter. Vanguard Group Inc. now owns 4,706,925 shares of the bank’s stock worth $101,670,000 after acquiring an additional 1,613,848 shares during the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of First Busey by 45.6% during the first quarter. Dimensional Fund Advisors LP now owns 5,096,605 shares of the bank’s stock worth $110,086,000 after purchasing an additional 1,596,262 shares during the period. T. Rowe Price Investment Management Inc. bought a new stake in shares of First Busey in the first quarter worth about $19,861,000. Hotchkis & Wiley Capital Management LLC increased its holdings in First Busey by 648.8% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 918,907 shares of the bank’s stock valued at $19,848,000 after purchasing an additional 796,197 shares during the period. Finally, Nuveen LLC bought a new position in First Busey during the 1st quarter valued at approximately $16,837,000. 56.49% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on BUSE. Keefe, Bruyette & Woods cut their price objective on First Busey from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 24th. Raymond James Financial reiterated an “outperform” rating and issued a $26.00 price target (down previously from $28.00) on shares of First Busey in a report on Thursday, October 30th. Piper Sandler reduced their price objective on shares of First Busey from $30.00 to $26.00 and set an “overweight” rating on the stock in a research report on Friday, October 31st. Weiss Ratings reaffirmed a “hold (c)” rating on shares of First Busey in a research report on Tuesday, November 11th. Finally, DA Davidson lifted their target price on shares of First Busey from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat, First Busey presently has an average rating of “Hold” and a consensus target price of $26.33.

Insider Transactions at First Busey

In other First Busey news, Director Karen M. Jensen acquired 3,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were acquired at an average price of $24.60 per share, for a total transaction of $73,800.00. Following the completion of the acquisition, the director owned 86,798 shares in the company, valued at $2,135,230.80. This trade represents a 3.58% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CAO Scott A. Phillips bought 1,350 shares of the firm’s stock in a transaction on Friday, October 31st. The shares were acquired at an average cost of $25.64 per share, with a total value of $34,614.00. Following the purchase, the chief accounting officer directly owned 2,350 shares of the company’s stock, valued at approximately $60,254. This represents a 135.00% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.85% of the stock is currently owned by corporate insiders.

First Busey Price Performance

Shares of BUSE stock opened at $22.35 on Wednesday. The business’s fifty day moving average is $23.37 and its 200 day moving average is $23.21. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.98 billion, a price-to-earnings ratio of 19.43 and a beta of 0.83. First Busey Corporation has a twelve month low of $18.40 and a twelve month high of $28.30.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Friday, May 20th. The bank reported $0.69 EPS for the quarter. First Busey had a return on equity of 9.56% and a net margin of 11.00%.The business had revenue of $63.34 million during the quarter. Research analysts expect that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Investors of record on Friday, October 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.00 annualized dividend and a yield of 4.5%. First Busey’s payout ratio is presently 86.96%.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.