First Busey (NASDAQ:BUSE) Downgraded to “Sell” at StockNews.com

StockNews.com cut shares of First Busey (NASDAQ:BUSE) from a hold rating to a sell rating in a report released on Monday.

First Busey Stock Up 0.4 %

Shares of BUSE opened at $22.89 on Monday. First Busey has a 12 month low of $16.26 and a 12 month high of $25.80. The company has a current ratio of 0.79, a quick ratio of 0.79 and a debt-to-equity ratio of 0.25. The company has a market capitalization of $1.27 billion, a PE ratio of 10.55 and a beta of 0.85. The stock’s 50-day moving average price is $23.04 and its two-hundred day moving average price is $22.61.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. First Busey had a return on equity of 10.38% and a net margin of 20.37%. The business had revenue of $108.65 million for the quarter, compared to analysts’ expectations of $107.74 million. On average, analysts anticipate that First Busey will post 2.14 EPS for the current year.

First Busey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 19th will be given a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a dividend yield of 4.19%. The ex-dividend date of this dividend is Thursday, April 18th. First Busey’s dividend payout ratio (DPR) is presently 44.24%.

Insider Activity at First Busey

In other First Busey news, Director Karen M. Jensen purchased 2,500 shares of the firm’s stock in a transaction on Monday, January 29th. The stock was purchased at an average cost of $24.40 per share, for a total transaction of $61,000.00. Following the acquisition, the director now owns 45,585 shares in the company, valued at approximately $1,112,274. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. In other First Busey news, Director Michael David Cassens sold 2,300 shares of the business’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $23.02, for a total value of $52,946.00. Following the transaction, the director now directly owns 141,278 shares of the company’s stock, valued at $3,252,219.56. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Karen M. Jensen acquired 2,500 shares of First Busey stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $24.40 per share, with a total value of $61,000.00. Following the transaction, the director now owns 45,585 shares in the company, valued at $1,112,274. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 4,917 shares of company stock worth $117,215 and have sold 6,900 shares worth $157,182. 7.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of BUSE. Denali Advisors LLC raised its holdings in shares of First Busey by 3,072.7% during the first quarter. Denali Advisors LLC now owns 34,900 shares of the bank’s stock valued at $839,000 after purchasing an additional 33,800 shares during the period. HighPoint Advisor Group LLC bought a new stake in First Busey in the 4th quarter valued at about $249,000. Wellington Management Group LLP raised its stake in First Busey by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,552,667 shares of the bank’s stock worth $38,537,000 after buying an additional 57,392 shares during the period. Teachers Retirement System of The State of Kentucky boosted its holdings in First Busey by 16.5% in the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 69,264 shares of the bank’s stock worth $1,719,000 after acquiring an additional 9,789 shares in the last quarter. Finally, Sierra Summit Advisors LLC bought a new position in First Busey in the fourth quarter worth approximately $238,000. 56.49% of the stock is owned by institutional investors.

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.