EJF Capital LLC Reduces Position in First Busey Corporation $BUSE

EJF Capital LLC reduced its holdings in First Busey Corporation (NASDAQ:BUSE) by 40.0% during the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 110,925 shares of the bank’s stock after selling 74,104 shares during the period. First Busey makes up approximately 1.5% of EJF Capital LLC’s holdings, making the stock its 25th largest holding. EJF Capital LLC’s holdings in First Busey were worth $2,568,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. lifted 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 worth $117,575,000 after purchasing an additional 33,430 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of First Busey by 3.8% in the second quarter. Geode Capital Management LLC now owns 2,073,087 shares of the bank’s stock valued at $47,448,000 after purchasing an additional 74,997 shares during the last quarter. LSV Asset Management increased its holdings in shares of First Busey by 2.2% in the second quarter. LSV Asset Management now owns 1,337,957 shares of the bank’s stock valued at $30,619,000 after purchasing an additional 28,900 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its position in First Busey by 8.2% during the second quarter. Arrowstreet Capital Limited Partnership now owns 1,160,189 shares of the bank’s stock worth $26,551,000 after buying an additional 87,524 shares in the last quarter. Finally, Bank of New York Mellon Corp boosted its stake in First Busey by 99.2% during the second quarter. Bank of New York Mellon Corp now owns 933,467 shares of the bank’s stock worth $21,362,000 after buying an additional 464,859 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

Insider Buying and Selling at First Busey

In related news, President Mike Maddox bought 1,000 shares of the stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $25.52 per share, with a total value of $25,520.00. Following the purchase, the president directly owned 40,280 shares of the company’s stock, valued at $1,027,945.60. This trade represents a 2.55% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. Insiders sold a total of 2,250 shares of company stock worth $57,165 over the last 90 days. 3.85% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the company. DA Davidson reiterated a “neutral” rating and issued a $27.00 price objective on shares of First Busey in a research report on Thursday, January 29th. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Busey in a report on Monday, December 29th. Finally, Piper Sandler boosted their price objective on shares of First Busey from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, January 30th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.00.

First Busey Stock Down 2.3%

Shares of NASDAQ:BUSE opened at $25.36 on Friday. The firm has a market capitalization of $2.24 billion, a PE ratio of 19.66 and a beta of 0.78. First Busey Corporation has a 1 year low of $18.40 and a 1 year high of $27.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s 50-day moving average is $25.14 and its two-hundred day moving average is $24.22.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, January 27th. The bank reported $0.68 EPS for the quarter, beating the consensus estimate of $0.61 by $0.07. First Busey had a net margin of 12.96% and a return on equity of 9.59%. The business had revenue of $201.78 million during the quarter, compared to analyst estimates of $197.70 million. Analysts predict that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 23rd were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. This is a positive change from First Busey’s previous quarterly dividend of $0.25. The ex-dividend date was Friday, January 23rd. First Busey’s payout ratio is presently 80.62%.

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.