Stanley J. Bradshaw Acquires 1,700 Shares of First Busey Co. (NASDAQ:BUSE) Stock

First Busey Co. (NASDAQ:BUSE) Director Stanley J. Bradshaw acquired 1,700 shares of the business’s stock in a transaction dated Thursday, March 13th. The shares were acquired at an average cost of $21.70 per share, with a total value of $36,890.00. Following the transaction, the director now owns 482,143 shares in the company, valued at approximately $10,462,503.10. This trade represents a 0.35 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

First Busey Price Performance

Shares of BUSE traded up $0.54 during midday trading on Friday, hitting $22.08. 225,204 shares of the company traded hands, compared to its average volume of 426,997. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market cap of $1.26 billion, a price-to-earnings ratio of 11.21 and a beta of 0.84. First Busey Co. has a 52 week low of $21.20 and a 52 week high of $28.97. The firm has a 50 day moving average of $23.50 and a 200-day moving average of $25.01.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, January 28th. The bank reported $0.53 earnings per share for the quarter, beating 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, analysts forecast that First Busey Co. will post 2.61 EPS for the current fiscal year.

First Busey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid 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 of this dividend was Friday, January 24th. This represents a $1.00 dividend on an annualized basis and a yield of 4.53%. First Busey’s dividend payout ratio is presently 50.76%.

Wall Street Analyst Weigh In

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

Hedge Funds Weigh In On First Busey

Several institutional investors have recently bought and sold shares of BUSE. PNC Financial Services Group Inc. raised its position in shares of First Busey by 1,173.5% during the 4th quarter. PNC Financial Services Group Inc. now owns 1,439 shares of the bank’s stock valued at $34,000 after buying an additional 1,326 shares in the last quarter. Huntington National Bank bought a new stake in First Busey during the third quarter worth approximately $38,000. R Squared Ltd purchased a new stake in First Busey during the fourth quarter valued at approximately $35,000. Meeder Asset Management Inc. lifted its stake in shares of First Busey by 161.1% in 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 boosted its holdings in shares of First Busey by 822.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank’s stock worth $40,000 after purchasing an additional 1,522 shares during the period. Institutional investors own 56.49% of the company’s stock.

First Busey Company Profile

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.