Michael David Cassens Sells 750 Shares of First Busey (NASDAQ:BUSE) Stock

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 750 shares of First Busey stock in a transaction on Friday, May 15th. The stock was sold at an average price of $26.11, for a total transaction of $19,582.50. Following the completion of the transaction, the director owned 140,392 shares in the company, valued at $3,665,635.12. This trade represents a 0.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

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

• On Wednesday, April 15th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $26.75, for a total transaction of $20,062.50.
• On Tuesday, February 17th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $26.61, for a total transaction of $19,957.50.

First Busey Stock Performance

Shares of NASDAQ BUSE opened at $26.21 on Wednesday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12. The business’s 50 day moving average is $25.81 and its two-hundred day moving average is $24.99. The company has a market cap of $2.22 billion, a P/E ratio of 11.65 and a beta of 0.72. First Busey Corporation has a 12 month low of $21.41 and a 12 month high of $27.65.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. The company had revenue of $197.17 million for the quarter, compared to the consensus estimate of $197.15 million. First Busey had a return on equity of 10.19% and a net margin of 19.16%. On average, equities analysts expect that First Busey Corporation will post 2.57 EPS for the current year.

First Busey Announces Dividend

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

Wall Street Analyst Weigh In

Several research analysts have commented on the company. Piper Sandler lifted their price target on First Busey from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. DA Davidson reaffirmed a “neutral” rating and issued a $27.00 price target on shares of First Busey in a research report on Thursday, January 29th. Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Stephens boosted their price objective 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. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. Based on data from MarketBeat.com, First Busey has an average rating of “Moderate Buy” and a consensus target price of $27.50.

Institutional Trading of First Busey

Several institutional investors have recently bought and sold shares of the stock. Wellington Management Group LLP boosted its stake in First Busey by 8.6% in the 4th quarter. Wellington Management Group LLP now owns 7,746,996 shares of the bank’s stock valued at $184,301,000 after buying an additional 611,090 shares in the last quarter. Vanguard Group Inc. boosted its stake in First Busey by 0.7% in the 3rd quarter. Vanguard Group Inc. now owns 5,078,833 shares of the bank’s stock valued at $117,575,000 after buying an additional 33,430 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Busey by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,067,210 shares of the bank’s stock valued at $128,046,000 after buying an additional 194,343 shares in the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in First Busey by 36,664.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock valued at $74,510,000 after buying an additional 3,123,454 shares in the last quarter. Finally, LSV Asset Management boosted its stake in First Busey by 8.0% in the 4th quarter. LSV Asset Management now owns 1,384,661 shares of the bank’s stock valued at $32,941,000 after buying an additional 102,904 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

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.