EJF Capital LLC Reduces Position in First Busey Corporation $BUSE

EJF Capital LLC decreased its position in First Busey Corporation (NASDAQ:BUSE) by 40.0% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 110,925 shares of the bank’s stock after selling 74,104 shares during the period. First Busey makes up about 1.5% of EJF Capital LLC’s portfolio, making the stock its 25th biggest holding. EJF Capital LLC owned about 0.12% of First Busey worth $2,568,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. increased its holdings in shares of First Busey by 0.7% in the third quarter. Vanguard Group Inc. now owns 5,078,833 shares of the bank’s stock valued at $117,575,000 after purchasing an additional 33,430 shares during the period. Geode Capital Management LLC lifted its stake in First Busey by 3.8% during 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 boosted its holdings in shares of 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 last quarter. Arrowstreet Capital Limited Partnership boosted its holdings in shares of First Busey by 8.2% in the 2nd quarter. Arrowstreet Capital Limited Partnership now owns 1,160,189 shares of the bank’s stock valued at $26,551,000 after acquiring an additional 87,524 shares during the last quarter. Finally, Bank of New York Mellon Corp increased its stake in shares of First Busey by 99.2% in the second quarter. Bank of New York Mellon Corp now owns 933,467 shares of the bank’s stock worth $21,362,000 after acquiring an additional 464,859 shares during the period. Hedge funds and other institutional investors own 56.49% of the company’s stock.

First Busey Stock Down 2.3%

First Busey stock opened at $25.36 on Friday. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The stock has a market capitalization of $2.24 billion, a PE ratio of 19.66 and a beta of 0.78. The business has a 50 day simple moving average of $25.14 and a 200-day simple moving average of $24.22. First Busey Corporation has a 12 month low of $18.40 and a 12 month high of $27.65.

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

First Busey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 23rd were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, January 23rd. This represents a $1.04 dividend on an annualized basis and a yield of 4.1%. This is a boost from First Busey’s previous quarterly dividend of $0.25. First Busey’s dividend payout ratio is 80.62%.

Analysts Set New Price Targets

BUSE has been the topic of several recent research reports. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Busey in a report on Monday, December 29th. Piper Sandler raised their target price on First Busey from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, January 30th. Finally, DA Davidson restated a “neutral” rating and issued a $27.00 price objective on shares of First Busey in a research report on Thursday, January 29th. Three analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat, First Busey presently has an average rating of “Hold” and a consensus target price of $27.00.

Insider Transactions at First Busey

In other news, President Mike Maddox bought 1,000 shares of the firm’s stock in a transaction dated Wednesday, December 3rd. The shares were acquired at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the transaction, the president directly owned 40,280 shares in the company, valued at $1,027,945.60. The trade was a 2.55% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In the last 90 days, insiders sold 2,250 shares of company stock valued at $57,165. Insiders own 3.85% of the company’s stock.

First Busey 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.