Bridgeway Capital Management LLC Grows Stock Position in First Busey Corporation $BUSE

Bridgeway Capital Management LLC boosted its position in First Busey Corporation (NASDAQ:BUSE) by 5.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 632,898 shares of the bank’s stock after buying an additional 32,308 shares during the quarter. Bridgeway Capital Management LLC’s holdings in First Busey were worth $15,057,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the company. Wellington Management Group LLP increased its position in First Busey by 94.4% in the third quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank’s stock worth $165,196,000 after buying an additional 3,464,965 shares during the last quarter. Vanguard Group Inc. grew its position 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 in the last quarter. Northwestern Mutual Wealth Management Co. grew its position in shares of First Busey by 36,664.6% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock valued at $74,510,000 after purchasing an additional 3,123,454 shares in the last quarter. LSV Asset Management grew its position in shares of First Busey by 8.0% in the fourth quarter. LSV Asset Management now owns 1,384,661 shares of the bank’s stock valued at $32,941,000 after purchasing an additional 102,904 shares in the last quarter. Finally, Bank of New York Mellon Corp grew its position in shares of First Busey by 12.5% in the fourth quarter. Bank of New York Mellon Corp now owns 1,314,576 shares of the bank’s stock valued at $31,274,000 after purchasing an additional 145,681 shares in the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Price Performance

First Busey stock opened at $27.99 on Thursday. First Busey Corporation has a 52 week low of $21.63 and a 52 week high of $29.10. The business has a 50-day simple moving average of $26.91 and a 200 day simple moving average of $25.69. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12. The stock has a market cap of $2.37 billion, a price-to-earnings ratio of 12.44 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, April 28th. The bank reported $0.67 EPS for the quarter, topping the consensus estimate of $0.57 by $0.10. First Busey had a return on equity of 10.19% and a net margin of 19.16%.The business had revenue of $197.17 million during the quarter, compared to analysts’ expectations of $197.15 million. On average, research analysts forecast that First Busey Corporation will post 2.57 earnings per share for the current fiscal year.

First Busey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 24th were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.7%. The ex-dividend date was Friday, April 24th. First Busey’s payout ratio is presently 46.22%.

Insider Buying and Selling

In other news, CAO Scott A. Phillips purchased 5,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was purchased at an average price of $25.90 per share, with a total value of $129,500.00. Following the completion of the purchase, the chief accounting officer directly 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 legal filing with the Securities & Exchange Commission, which is available through this link. 3.77% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on BUSE shares. Stephens lifted 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. Weiss Ratings upgraded First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Piper Sandler lifted 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. Four research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average 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.