First Busey Co. (NASDAQ:BUSE) Director Stephen V. King acquired 7,180 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average cost of $26.59 per share, with a total value of $190,916.20. Following the completion of the transaction, the director now directly owns 7,357 shares in the company, valued at approximately $195,622.63. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink.
BUSE stock opened at $25.97 on Thursday. The company has a market cap of $1.42 billion, a P/E ratio of 12.37, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. First Busey Co. has a fifty-two week low of $23.13 and a fifty-two week high of $33.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.85 and a quick ratio of 0.85.
First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). The business had revenue of $94.33 million for the quarter, compared to analysts’ expectations of $96.24 million. First Busey had a return on equity of 10.23% and a net margin of 25.94%. As a group, sell-side analysts anticipate that First Busey Co. will post 2.15 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 19th were paid a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, April 17th. First Busey’s payout ratio is 40.00%.
A number of hedge funds have recently bought and sold shares of BUSE. Citigroup Inc. lifted its stake in First Busey by 166.5% in the fourth quarter. Citigroup Inc. now owns 9,248 shares of the bank’s stock valued at $227,000 after buying an additional 5,778 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in First Busey by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,308,610 shares of the bank’s stock valued at $56,653,000 after buying an additional 127,023 shares during the last quarter. Cozad Asset Management Inc. lifted its stake in First Busey by 39.5% in the fourth quarter. Cozad Asset Management Inc. now owns 27,529 shares of the bank’s stock valued at $676,000 after buying an additional 7,794 shares during the last quarter. California Public Employees Retirement System lifted its stake in First Busey by 31.8% in the fourth quarter. California Public Employees Retirement System now owns 88,031 shares of the bank’s stock valued at $2,160,000 after buying an additional 21,232 shares during the last quarter. Finally, Bank of Edwardsville purchased a new stake in First Busey in the first quarter valued at approximately $13,681,000. Hedge funds and other institutional investors own 44.98% of the company’s stock.
A number of analysts recently issued reports on BUSE shares. Zacks Investment Research downgraded First Busey from a “buy” rating to a “hold” rating in a research report on Friday, January 18th. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus price target of $30.75.
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First Busey Company Profile
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
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