First Busey (NASDAQ:BUSE) Director Michael David Cassens Sells 750 Shares of Stock

First Busey Corporation (NASDAQ:BUSE) Director Michael David Cassens sold 750 shares of the stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $26.61, for a total transaction of $19,957.50. Following the completion of the transaction, the director owned 139,523 shares in the company, valued at $3,712,707.03. This trade represents a 0.53% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link.

Michael David Cassens also recently made the following trade(s):

• On Thursday, January 15th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $24.24, for a total transaction of $18,180.00.
• On Monday, December 15th, Michael David Cassens sold 750 shares of First Busey stock. The shares were sold at an average price of $25.37, for a total value of $19,027.50.

First Busey Stock Performance

Shares of NASDAQ:BUSE traded up $0.10 during mid-day trading on Friday, reaching $26.31. 171,737 shares of the company traded hands, compared to its average volume of 628,791. The company’s 50 day moving average price is $25.08 and its 200-day moving average price is $24.07. The firm has a market cap of $2.33 billion, a PE ratio of 20.40 and a beta of 0.78. First Busey Corporation has a 52 week low of $18.40 and a 52 week high of $27.65. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. First Busey had a return on equity of 9.59% and a net margin of 12.96%.The business had revenue of $201.78 million for the quarter, compared to analysts’ expectations of $197.70 million. On average, equities analysts expect that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Shareholders of record on Friday, January 23rd were issued a dividend of $0.26 per share. This is a boost from First Busey’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. First Busey’s payout ratio is currently 80.62%.

Analysts Set New Price Targets

A number of research firms recently commented on BUSE. Raymond James Financial reiterated an “outperform” rating and issued a $26.00 target price (down from $28.00) on shares of First Busey in a research report on Thursday, October 30th. DA Davidson reaffirmed a “neutral” rating and set a $27.00 price objective on shares of First Busey in a report on Thursday, January 29th. Piper Sandler increased their target price on First Busey from $26.00 to $29.00 and gave the company an “overweight” rating in a research report on Friday, January 30th. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of First Busey in a research report on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $27.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Wellington Management Group LLP lifted its position in shares of First Busey by 94.4% in the 3rd quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank’s stock worth $165,196,000 after purchasing an additional 3,464,965 shares during the period. Northwestern Mutual Wealth Management Co. lifted its holdings in First Busey by 36,664.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock worth $74,510,000 after buying an additional 3,123,454 shares during the period. Mirabella Financial Services LLP bought a new stake in First Busey during the 2nd quarter valued at $20,113,000. Bank of New York Mellon Corp boosted its position in First Busey by 99.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 933,467 shares of the bank’s stock valued at $21,362,000 after acquiring an additional 464,859 shares in the last quarter. Finally, Stieven Capital Advisors L.P. purchased a new position in shares of First Busey in the 3rd quarter valued at $9,607,000. Institutional investors 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.