Members Trust Co Invests $1.74 Million in First Busey Corporation $BUSE

Members Trust Co bought a new stake in shares of First Busey Corporation (NASDAQ:BUSE) during the 3rd quarter, HoldingsChannel.com reports. The fund bought 75,000 shares of the bank’s stock, valued at approximately $1,736,000.

A number of other large investors also recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its stake in First Busey by 726.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after purchasing an additional 2,004 shares during the last quarter. State of Alaska Department of Revenue purchased a new stake in First Busey during the third quarter valued at about $86,000. Ameritas Investment Partners Inc. grew its stake in shares of First Busey by 8.0% during the second quarter. Ameritas Investment Partners Inc. now owns 8,745 shares of the bank’s stock valued at $200,000 after buying an additional 648 shares during the last quarter. Argent Trust Co purchased a new position in shares of First Busey in the third quarter worth about $200,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of First Busey by 585.6% in the second quarter. Tower Research Capital LLC TRC now owns 9,742 shares of the bank’s stock worth $223,000 after buying an additional 8,321 shares during the period. Hedge funds and other institutional investors own 56.49% of the company’s stock.

First Busey Stock Performance

First Busey stock opened at $25.11 on Tuesday. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.12. The firm has a 50-day moving average of $25.36 and a 200-day moving average of $24.33. The firm has a market cap of $2.17 billion, a P/E ratio of 19.47 and a beta of 0.76. First Busey Corporation has a 1-year low of $18.40 and a 1-year high of $27.65.

First Busey (NASDAQ:BUSE) last announced 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. The company had revenue of $201.78 million for the quarter, compared to the consensus estimate of $197.70 million. First Busey had a return on equity of 9.46% and a net margin of 12.96%. Sell-side analysts expect that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were paid a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.1%. 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. First Busey’s payout ratio is presently 80.62%.

Analyst Ratings Changes

Several brokerages recently weighed in on BUSE. Piper Sandler increased their target price on First Busey from $26.00 to $29.00 and gave the company an “overweight” rating in a report on Friday, January 30th. DA Davidson reiterated a “neutral” rating and issued a $27.00 price objective on shares of First Busey in a research report on Thursday, January 29th. Finally, Weiss Ratings raised First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 3rd. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, First Busey currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.00.

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.