UBS Group AG Lowers Position in First Busey Corporation $BUSE

UBS Group AG reduced its stake in First Busey Corporation (NASDAQ:BUSE) by 14.9% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 114,397 shares of the bank’s stock after selling 20,024 shares during the quarter. UBS Group AG owned approximately 0.13% of First Busey worth $2,722,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of BUSE. Royal Bank of Canada raised its position in First Busey by 95.9% in the 1st quarter. Royal Bank of Canada now owns 18,143 shares of the bank’s stock valued at $392,000 after buying an additional 8,884 shares during the last quarter. AQR Capital Management LLC raised its position in First Busey by 16.8% in the 1st quarter. AQR Capital Management LLC now owns 198,945 shares of the bank’s stock valued at $4,297,000 after buying an additional 28,605 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in First Busey by 64.1% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank’s stock valued at $1,074,000 after buying an additional 19,431 shares during the last quarter. Goldman Sachs Group Inc. raised its position in First Busey by 9.0% in the 1st quarter. Goldman Sachs Group Inc. now owns 469,310 shares of the bank’s stock valued at $10,137,000 after buying an additional 38,773 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First Busey by 78.4% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank’s stock valued at $4,796,000 after buying an additional 97,560 shares during the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Price Performance

Shares of NASDAQ:BUSE opened at $27.08 on Tuesday. The company has a market capitalization of $2.29 billion, a PE ratio of 12.04 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day moving average price of $25.97 and a two-hundred day moving average price of $25.12. First Busey Corporation has a 1 year low of $21.41 and a 1 year high of $27.65.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The firm had revenue of $197.17 million during the quarter, compared to the consensus estimate of $197.15 million. First Busey had a return on equity of 10.19% and a net margin of 19.16%. Analysts forecast that First Busey Corporation will post 2.57 earnings per share for the current year.

First Busey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 24th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date was Friday, April 24th. First Busey’s dividend payout ratio is 46.22%.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Stephens increased their price target on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Piper Sandler increased their price target on First Busey from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, DA Davidson reissued a “neutral” rating and issued a $27.00 price target on shares of First Busey in a research report on Thursday, January 29th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Insider Transactions at First Busey

In other First Busey news, CAO Scott A. Phillips acquired 5,000 shares of First Busey stock in a transaction on Monday, May 4th. The stock was purchased at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the purchase, the chief accounting officer directly owned 8,350 shares of the company’s stock, valued at $216,265. This trade represents a 149.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 3.77% of the stock is owned by company insiders.

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.