First Busey (NASDAQ:BUSE) Share Price Crosses Above Two Hundred Day Moving Average – What’s Next?

First Busey Corporation (NASDAQ:BUSE)’s share price crossed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $23.62 and traded as high as $24.36. First Busey shares last traded at $24.02, with a volume of 259,983 shares trading hands.

Wall Street Analyst Weigh In

BUSE has been the topic of a number of research analyst reports. Raymond James Financial reissued an “outperform” rating and set a $26.00 price objective (down from $28.00) on shares of First Busey in a report on Thursday, October 30th. Piper Sandler lowered their price target on First Busey from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday, October 31st. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Busey in a research note on Monday. Three analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $26.33.

First Busey Price Performance

The firm has a 50-day simple moving average of $23.68 and a two-hundred day simple moving average of $23.62. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of 20.69 and a beta of 0.80. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

First Busey (NASDAQ:BUSE) last issued its earnings results on Friday, May 20th. The bank reported $0.69 EPS for the quarter. The firm had revenue of $63.34 million for the quarter. First Busey had a return on equity of 9.05% and a net margin of 11.00%. As a group, analysts predict that First Busey Corporation will post 2.61 earnings per share for the current fiscal year.

First Busey Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 24th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. First Busey’s dividend payout ratio (DPR) is presently 86.96%.

Insider Buying and Selling at First Busey

In other news, President Mike Maddox bought 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was purchased at an average cost of $25.52 per share, for a total transaction of $25,520.00. Following the purchase, the president directly owned 40,280 shares in the company, valued at approximately $1,027,945.60. This trade represents a 2.55% increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Scott A. Phillips purchased 1,350 shares of the company’s stock in a transaction that occurred on Friday, October 31st. The shares were purchased at an average price of $25.64 per share, for a total transaction of $34,614.00. Following the transaction, the chief accounting officer owned 2,350 shares of the company’s stock, valued at $60,254. This trade represents a 135.00% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Insiders own 3.85% of the company’s stock.

Hedge Funds Weigh In On First Busey

Large investors have recently bought and sold shares of the business. Wellington Management Group LLP grew its holdings in First Busey by 94.4% in the third quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank’s stock valued at $165,196,000 after purchasing an additional 3,464,965 shares during the period. Vanguard Group Inc. lifted its position in shares of First Busey by 0.7% during the 3rd quarter. Vanguard Group Inc. now owns 5,078,833 shares of the bank’s stock valued at $117,575,000 after buying an additional 33,430 shares in the last quarter. Geode Capital Management LLC grew its stake in First Busey by 3.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,073,087 shares of the bank’s stock valued at $47,448,000 after acquiring an additional 74,997 shares during the period. LSV Asset Management grew its stake in First Busey by 2.2% in the 2nd quarter. LSV Asset Management now owns 1,337,957 shares of the bank’s stock valued at $30,619,000 after acquiring an additional 28,900 shares during the period. Finally, Arrowstreet Capital Limited Partnership increased its holdings in First Busey by 8.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,160,189 shares of the bank’s stock worth $26,551,000 after acquiring an additional 87,524 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

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.