King Luther Capital Management Corp Has $248,000 Stock Holdings in First Busey Corporation $BUSE

King Luther Capital Management Corp lessened its position in First Busey Corporation (NASDAQ:BUSE) by 96.3% during the 4th quarter, Holdings Channel reports. The firm owned 10,414 shares of the bank’s stock after selling 270,513 shares during the quarter. King Luther Capital Management Corp’s holdings in First Busey were worth $248,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Allworth Financial LP raised its holdings in shares of First Busey by 127.8% in the fourth quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after buying an additional 888 shares during the last quarter. Torren Management LLC bought a new position in shares of First Busey in the fourth quarter valued at about $40,000. Geneos Wealth Management Inc. raised its holdings in shares of First Busey by 726.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after buying an additional 2,004 shares during the last quarter. CIBC Private Wealth Group LLC raised its holdings in shares of First Busey by 111.9% in the third quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank’s stock valued at $91,000 after buying an additional 2,070 shares during the last quarter. Finally, Comerica Bank raised its holdings in shares of First Busey by 1,167.4% in the fourth quarter. Comerica Bank now owns 4,892 shares of the bank’s stock valued at $116,000 after buying an additional 4,506 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

First Busey Stock Performance

First Busey stock opened at $27.37 on Friday. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. First Busey Corporation has a 1 year low of $21.63 and a 1 year high of $27.78. The company has a market cap of $2.31 billion, a PE ratio of 12.16 and a beta of 0.72. The company’s 50-day moving average is $26.18 and its two-hundred day moving average is $25.23.

First Busey (NASDAQ:BUSE) last released its earnings results 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. First Busey had a net margin of 19.16% and a return on equity of 10.19%. The company had revenue of $197.17 million for the quarter, compared to the consensus estimate of $197.15 million. Equities analysts anticipate that First Busey Corporation will post 2.57 earnings per share for the current year.

First Busey Announces Dividend

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

Insider Transactions at First Busey

In other First Busey news, CAO Scott A. Phillips bought 5,000 shares of the business’s stock in a transaction on Monday, May 4th. The shares were bought at an average cost of $25.90 per share, for a total transaction of $129,500.00. Following the transaction, the chief accounting officer owned 8,350 shares in the company, valued at approximately $216,265. This trade represents a 149.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 3.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Piper Sandler lifted their price target on First Busey from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Finally, Stephens lifted their price target on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Four research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $27.50.

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.