UBS Group AG Sells 20,024 Shares of First Busey Corporation $BUSE

UBS Group AG decreased its position in shares of First Busey Corporation (NASDAQ:BUSE) by 14.9% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 114,397 shares of the bank’s stock after selling 20,024 shares during the quarter. UBS Group AG’s holdings in First Busey were worth $2,722,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. grew its stake in shares of First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after acquiring an additional 2,004 shares during the period. CIBC Private Wealth Group LLC grew its stake in shares of First Busey by 111.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank’s stock worth $91,000 after acquiring an additional 2,070 shares during the period. Argent Trust Co bought a new position in shares of First Busey during the 3rd quarter worth $200,000. CIBC Bancorp USA Inc. bought a new position in shares of First Busey during the 3rd quarter worth $211,000. Finally, Tower Research Capital LLC TRC grew its stake in shares of First Busey by 585.6% during the 2nd quarter. Tower Research Capital LLC TRC now owns 9,742 shares of the bank’s stock worth $223,000 after acquiring an additional 8,321 shares during the period. Institutional investors own 56.49% of the company’s stock.

Insider Buying and Selling

In related news, CAO Scott A. Phillips bought 5,000 shares of the business’s stock in a transaction on Monday, May 4th. The stock was acquired at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the purchase, the chief accounting officer directly owned 8,350 shares in the company, valued at $216,265. This trade represents a 149.25% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 3.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BUSE has been the subject of several research reports. Stephens increased their price target on First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Weiss Ratings upgraded First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. DA Davidson reiterated a “neutral” rating and set a $27.00 price target on shares of First Busey in a research note on Thursday, January 29th. Finally, Piper Sandler raised their target price on First Busey from $29.00 to $30.00 and gave the stock an “overweight” rating in a research note on Thursday, April 30th. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $27.50.

First Busey Price Performance

Shares of NASDAQ BUSE opened at $27.08 on Tuesday. First Busey Corporation has a 52 week low of $21.41 and a 52 week high of $27.65. The business has a 50-day simple moving average of $25.97 and a two-hundred day simple moving average of $25.12. 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 company has a market cap of $2.29 billion, a P/E ratio of 12.04 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last issued its 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. First Busey had a return on equity of 10.19% and a net margin of 19.16%.The business had revenue of $197.17 million during the quarter, compared to the consensus estimate of $197.15 million. Research analysts anticipate that First Busey Corporation will post 2.57 earnings per share for the current fiscal year.

First Busey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 24th were paid a $0.26 dividend. The ex-dividend date was Friday, April 24th. This represents a $1.04 annualized dividend and a yield of 3.8%. First Busey’s dividend payout ratio (DPR) is currently 46.22%.

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.