Rep. Jefferson Shreve Buys First Busey Co. (NASDAQ:BUSE) Stock

Representative Jefferson Shreve (R-Indiana) recently bought shares of First Busey Co. (NASDAQ:BUSE). In a filing disclosed on March 09th, the Representative disclosed that they had bought between $15,001 and $50,000 in First Busey stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

First Busey Price Performance

Shares of BUSE traded down $0.20 during midday trading on Tuesday, reaching $21.37. The stock had a trading volume of 47,933 shares, compared to its average volume of 419,063. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.22 billion, a price-to-earnings ratio of 10.85 and a beta of 0.84. The company’s 50-day moving average is $23.65 and its 200 day moving average is $25.13. First Busey Co. has a 12-month low of $21.36 and a 12-month high of $28.97.

First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, January 28th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, equities analysts predict that First Busey Co. will post 2.61 EPS for the current fiscal year.

First Busey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a dividend of $0.25 per share. This is an increase from First Busey’s previous quarterly dividend of $0.24. The ex-dividend date was Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 4.68%. First Busey’s dividend payout ratio (DPR) is presently 50.76%.

Insiders Place Their Bets

In other news, Director Stanley J. Bradshaw bought 1,838 shares of the stock in a transaction dated Wednesday, February 26th. The stock was bought at an average price of $23.75 per share, for a total transaction of $43,652.50. Following the purchase, the director now directly owns 437,481 shares in the company, valued at $10,390,173.75. This trade represents a 0.42 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 7.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $33.00 price objective (down previously from $34.00) on shares of First Busey in a research note on Thursday, January 30th. Stephens restated an “equal weight” rating and set a $26.00 price target on shares of First Busey in a research report on Monday, February 24th. DA Davidson reaffirmed a “neutral” rating and set a $25.00 price objective on shares of First Busey in a research note on Tuesday, February 25th. Finally, Piper Sandler decreased their price objective on First Busey from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday, January 30th. Three research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $28.00.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. PNC Financial Services Group Inc. grew its holdings in First Busey by 1,173.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,439 shares of the bank’s stock worth $34,000 after acquiring an additional 1,326 shares during the last quarter. R Squared Ltd bought a new stake in shares of First Busey in the fourth quarter worth about $35,000. Huntington National Bank purchased a new position in First Busey during the 3rd quarter valued at about $38,000. Meeder Asset Management Inc. raised its position in First Busey by 161.1% during the 4th quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,047 shares during the last quarter. Finally, Sterling Capital Management LLC raised its position in First Busey by 822.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank’s stock valued at $40,000 after purchasing an additional 1,522 shares during the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.