First Busey (NASDAQ:BUSE) Director Sells $44,786.28 in Stock

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 1,441 shares of the company’s stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $31.08, for a total value of $44,786.28. Following the sale, the director owned 131,453 shares in the company, valued at approximately $4,085,559.24. The trade was 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 Trading Down 0.1%

Shares of BUSE stock opened at $30.21 on Friday. The company has a market cap of $2.49 billion, a P/E ratio of 12.48 and a beta of 0.72. The stock has a 50 day simple moving average of $29.87 and a two-hundred day simple moving average of $27.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90. First Busey Corporation has a fifty-two week low of $22.00 and a fifty-two week high of $31.70.

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

First Busey Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on BUSE shares. Zacks Research upgraded shares of First Busey from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Raymond James Financial upped their price objective on shares of First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Stephens increased their price objective on shares of First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. DA Davidson increased their price objective on shares of First Busey from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Finally, Wall Street Zen upgraded First Busey from a “sell” rating to a “hold” rating in a research note 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 issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $32.00.

Hedge Funds Weigh In On First Busey

A number of large investors have recently modified their holdings of the company. Public Employees Retirement System of Ohio bought a new stake in First Busey during the 2nd quarter valued at $29,000. Parkside Financial Bank & Trust bought a new position in shares of First Busey in the fourth quarter valued at $28,000. Litman Gregory Wealth Management LLC acquired a new position in shares of First Busey during the fourth quarter valued at about $30,000. Compass Financial Management LLC acquired a new position in shares of First Busey during the second quarter valued at about $45,000. Finally, Allworth Financial LP increased 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 in the last quarter. 56.49% of the stock is currently owned by institutional investors.

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.