First Busey Co. (NASDAQ:BUSE - Get Free Report) Director Stanley J. Bradshaw acquired 1,700 shares of the business's stock in a transaction on Thursday, March 13th. The shares were bought at an average cost of $21.70 per share, with a total value of $36,890.00. Following the completion of the acquisition, the director now owns 482,143 shares of the company's stock, valued at approximately $10,462,503.10. This trade represents a 0.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link.
First Busey Price Performance
First Busey stock opened at $22.08 on Friday. The firm has a market capitalization of $1.26 billion, a P/E ratio of 11.21 and a beta of 0.84. First Busey Co. has a 1 year low of $21.20 and a 1 year high of $28.97. The business has a 50-day moving average of $23.50 and a 200-day moving average of $25.01. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22.
First Busey (NASDAQ:BUSE - Get Free Report) last posted its earnings results on Tuesday, January 28th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, equities analysts anticipate that First Busey Co. will post 2.61 EPS for the current year.
First Busey Increases Dividend
The business also recently announced a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were given a dividend of $0.25 per share. This is a positive change from First Busey's previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a dividend yield of 4.53%. The ex-dividend date of this dividend was Friday, January 24th. First Busey's payout ratio is presently 50.76%.
Hedge Funds Weigh In On First Busey
Several institutional investors have recently modified their holdings of the stock. Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of First Busey in the 4th quarter valued at approximately $3,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in shares of First Busey by 39.7% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 124,488 shares of the bank's stock valued at $2,934,000 after purchasing an additional 35,360 shares during the period. Voloridge Investment Management LLC grew its position in shares of First Busey by 596.4% in the 4th quarter. Voloridge Investment Management LLC now owns 133,264 shares of the bank's stock valued at $3,141,000 after purchasing an additional 114,129 shares during the period. Squarepoint Ops LLC acquired a new position in shares of First Busey in the 4th quarter valued at approximately $721,000. Finally, Two Sigma Advisers LP grew its position in shares of First Busey by 65.4% in the 4th quarter. Two Sigma Advisers LP now owns 114,808 shares of the bank's stock valued at $2,706,000 after purchasing an additional 45,400 shares during the period. 56.49% of the stock is currently owned by institutional investors and hedge funds.
Analysts Set New Price Targets
A number of brokerages have issued reports on BUSE. Stephens reissued an "equal weight" rating and set a $26.00 price objective on shares of First Busey in a report on Monday, February 24th. Piper Sandler lowered their price objective on First Busey from $32.00 to $28.00 and set an "overweight" rating for the company in a research report on Thursday, January 30th. DA Davidson reiterated a "neutral" rating and issued a $25.00 price objective on shares of First Busey in a research report on Tuesday, February 25th. Finally, Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $33.00 price objective (down from $34.00) on shares of First Busey in a research report on Thursday, January 30th. Three investment analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Hold" and an average target price of $28.00.
Check Out Our Latest Stock Report on BUSE
About First Busey
(
Get Free Report)
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.
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