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

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 750 shares of the stock in a transaction on 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 owned 140,031 shares in the company, valued at approximately $3,394,351.44. This trade represents a 0.53% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link.

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 Price Performance

First Busey stock traded down $0.04 during midday trading on Tuesday, reaching $24.37. 129,246 shares of the company were exchanged, compared to its average volume of 466,883. The firm’s 50-day simple moving average is $24.01 and its 200-day simple moving average is $23.73. First Busey Corporation has a 1 year low of $18.40 and a 1 year high of $25.62. The company has a market capitalization of $2.15 billion, a price-to-earnings ratio of 21.19 and a beta of 0.79. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.91 and a current ratio of 0.91.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, October 28th. The bank reported $0.64 earnings per share (EPS) for the quarter, topping the consensus estimate 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%. On average, analysts anticipate 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 given a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a yield of 4.3%. This is an increase from First Busey’s previous quarterly dividend of $0.25. The ex-dividend date is Friday, January 23rd. First Busey’s dividend payout ratio (DPR) is 86.96%.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of the business. Royal Bank of Canada lifted its position in First Busey by 95.9% during the first quarter. Royal Bank of Canada now owns 18,143 shares of the bank’s stock valued at $392,000 after buying an additional 8,884 shares in the last quarter. AQR Capital Management LLC raised its stake in shares of First Busey by 16.8% in the 1st quarter. AQR Capital Management LLC now owns 198,945 shares of the bank’s stock valued at $4,297,000 after acquiring an additional 28,605 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of First Busey by 64.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 19,431 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of First Busey by 9.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 469,310 shares of the bank’s stock valued at $10,137,000 after acquiring an additional 38,773 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in First Busey by 78.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank’s stock worth $4,796,000 after purchasing an additional 97,560 shares during the period. Hedge funds and other institutional investors own 56.49% of the company’s stock.

Wall Street Analyst Weigh In

BUSE has been the topic of a number of recent analyst reports. Piper Sandler reduced their price target on First Busey from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Busey in a research note on Monday, December 29th. Finally, Raymond James Financial reissued 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 equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $26.33.

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.