First Busey (NASDAQ:BUSE) Director Michael David Cassens Sells 1,441 Shares of Stock

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 1,441 shares of the stock in a transaction dated Monday, August 17th. The stock was sold at an average price of $31.08, for a total transaction of $44,786.28. Following the sale, the director owned 131,453 shares of the company’s stock, valued at $4,085,559.24. This trade represents a 1.08% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

First Busey Price Performance

BUSE stock traded down $0.16 during trading on Tuesday, hitting $30.92. 593,288 shares of the stock traded hands, compared to its average volume of 703,417. The stock has a market cap of $2.55 billion, a price-to-earnings ratio of 12.78 and a beta of 0.72. First Busey Corporation has a one year low of $22.00 and a one year high of $31.70. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The company has a 50 day simple moving average of $29.75 and a 200 day simple moving average of $27.36.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $0.69 earnings per share for the quarter, topping the consensus estimate of $0.63 by $0.06. The firm had revenue of $194.27 million for the quarter, compared to analysts’ expectations of $197.59 million. First Busey had a net margin of 21.00% and a return on equity of 10.48%. Equities analysts expect that First Busey Corporation will post 2.67 EPS for the current fiscal year.

First Busey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date of this dividend was Friday, July 24th. First Busey’s payout ratio is presently 42.98%.

Wall Street Analyst Weigh In

A number of research firms recently weighed in on BUSE. Weiss Ratings reaffirmed a “buy (b)” rating on shares of First Busey in a report on Friday, August 7th. Zacks Research upgraded First Busey from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Raymond James Financial raised their target price on First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. DA Davidson lifted their price target on First Busey from $30.00 to $31.00 and gave the company a “neutral” rating in a report on Thursday, July 30th. Finally, Wall Street Zen upgraded shares of First Busey from a “sell” rating to a “hold” rating in a research report on Saturday, August 1st. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the company’s stock. According to MarketBeat, First Busey has a consensus rating of “Moderate Buy” and an average price target of $32.00.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Parkside Financial Bank & Trust bought a new position in First Busey in the 4th quarter valued at $28,000. Public Employees Retirement System of Ohio acquired a new stake in shares of First Busey in the 2nd quarter valued at $29,000. Litman Gregory Wealth Management LLC bought a new stake in shares of First Busey during the fourth quarter worth $30,000. Allworth Financial LP raised its position in shares of First Busey by 127.8% during the fourth quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock worth $38,000 after acquiring an additional 888 shares during the last quarter. Finally, Torren Management LLC acquired a new position in shares of First Busey during the fourth quarter valued at $40,000. Institutional investors and hedge funds own 56.49% of the company’s stock.

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.