350,000 Shares in First Busey Corporation $BUSE Bought by Curi RMB Capital LLC

Curi RMB Capital LLC purchased a new position in First Busey Corporation (NASDAQ:BUSE) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 350,000 shares of the bank’s stock, valued at approximately $7,560,000.

A number of other hedge funds also recently modified their holdings of the stock. Signaturefd LLC increased its position in shares of First Busey by 23.7% in the first quarter. Signaturefd LLC now owns 2,524 shares of the bank’s stock worth $55,000 after purchasing an additional 483 shares during the period. M&T Bank Corp increased its position in shares of First Busey by 2.6% in the first quarter. M&T Bank Corp now owns 21,069 shares of the bank’s stock worth $455,000 after purchasing an additional 528 shares during the period. Cresset Asset Management LLC increased its position in shares of First Busey by 2.7% in the first quarter. Cresset Asset Management LLC now owns 20,633 shares of the bank’s stock worth $446,000 after purchasing an additional 538 shares during the period. PNC Financial Services Group Inc. increased its position in shares of First Busey by 56.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank’s stock worth $49,000 after purchasing an additional 812 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in shares of First Busey by 3.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,293 shares of the bank’s stock worth $714,000 after purchasing an additional 985 shares during the period. Institutional investors own 56.49% of the company’s stock.

First Busey Stock Performance

Shares of BUSE stock opened at $24.77 on Friday. The business’s 50-day moving average price is $23.62 and its 200-day moving average price is $22.52. First Busey Corporation has a 12 month low of $18.40 and a 12 month high of $28.30. The firm has a market capitalization of $2.21 billion, a price-to-earnings ratio of 22.12 and a beta of 0.82. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.02. First Busey had a return on equity of 8.76% and a net margin of 9.48%.The firm had revenue of $192.05 million for the quarter, compared to analyst estimates of $193.91 million. Equities research analysts forecast that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 18th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend was Friday, July 18th. First Busey’s dividend payout ratio (DPR) is presently 89.29%.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BUSE. Keefe, Bruyette & Woods decreased their price target on First Busey from $30.00 to $29.00 and set an “outperform” rating on the stock in a research report on Thursday, July 24th. Piper Sandler initiated coverage on First Busey in a research note on Tuesday, July 1st. They issued an “overweight” rating and a $30.00 price objective on the stock. Raymond James Financial reaffirmed an “outperform” rating and issued a $28.00 price objective (up from $27.00) on shares of First Busey in a research note on Friday, August 29th. Wall Street Zen raised First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Finally, DA Davidson raised their price objective on First Busey from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $27.33.

Insider Transactions at First Busey

In other news, Director Karen M. Jensen purchased 2,500 shares of the business’s stock in a transaction dated Friday, July 25th. The shares were purchased at an average cost of $23.25 per share, with a total value of $58,125.00. Following the completion of the purchase, the director owned 83,568 shares of the company’s stock, valued at $1,942,956. This trade represents a 3.08% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this link. Also, CFO Scott A. Phillips acquired 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, August 19th. The stock was bought at an average cost of $25.25 per share, for a total transaction of $25,250.00. Following the completion of the purchase, the chief financial officer owned 1,000 shares of the company’s stock, valued at $25,250. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 3.85% of the company’s stock.

First Busey Profile

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.