UMB Bank n.a. Makes New Investment in First Busey Co. (NASDAQ:BUSE)

UMB Bank n.a. acquired a new position in First Busey Co. (NASDAQ:BUSE) in the 1st quarter, Holdings Channel reports. The firm acquired 103,257 shares of the bank’s stock, valued at approximately $2,230,000.

Several other institutional investors and hedge funds have also bought and sold shares of BUSE. Emerald Advisers LLC purchased a new stake in First Busey in the fourth quarter worth about $9,115,000. Millennium Management LLC lifted its holdings in shares of First Busey by 121.0% during the fourth quarter. Millennium Management LLC now owns 565,001 shares of the bank’s stock valued at $13,317,000 after purchasing an additional 309,301 shares during the last quarter. Peregrine Capital Management LLC purchased a new position in shares of First Busey during the fourth quarter valued at approximately $5,498,000. Emerald Mutual Fund Advisers Trust purchased a new position in shares of First Busey during the fourth quarter valued at approximately $4,850,000. Finally, JPMorgan Chase & Co. lifted its holdings in shares of First Busey by 39.2% during the fourth quarter. JPMorgan Chase & Co. now owns 671,402 shares of the bank’s stock valued at $15,825,000 after purchasing an additional 189,115 shares during the last quarter. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

First Busey Price Performance

Shares of BUSE opened at $22.73 on Monday. The company has a market capitalization of $2.03 billion, a P/E ratio of 11.54 and a beta of 0.78. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a 50 day moving average of $21.21 and a 200 day moving average of $23.02. First Busey Co. has a twelve month low of $18.40 and a twelve month high of $28.97.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, beating the consensus estimate of $0.53 by $0.04. The company had revenue of $140.72 million during the quarter, compared to the consensus estimate of $140.15 million. First Busey had a net margin of 17.14% and a return on equity of 8.94%. As a group, equities research analysts anticipate that First Busey Co. will post 2.61 earnings per share for the current fiscal year.

First Busey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 25th. Investors of record on Friday, April 18th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.40%. The ex-dividend date of this dividend was Thursday, April 17th. First Busey’s dividend payout ratio (DPR) is currently 93.46%.

Insider Activity at First Busey

In related news, Director Steven W. Caple bought 1,175 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was acquired at an average price of $21.60 per share, with a total value of $25,380.00. Following the transaction, the director now owns 4,509 shares in the company, valued at approximately $97,394.40. This trade represents a 35.24% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen M. Jensen bought 5,500 shares of the business’s stock in a transaction on Friday, May 23rd. The stock was bought at an average cost of $21.70 per share, with a total value of $119,350.00. Following the transaction, the director now owns 72,068 shares in the company, valued at $1,563,875.60. This trade represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Insiders bought 14,825 shares of company stock valued at $323,038 over the last 90 days. Corporate insiders own 3.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the stock. Wall Street Zen upgraded shares of First Busey from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. DA Davidson reiterated a “neutral” rating and set a $25.00 target price on shares of First Busey in a report on Tuesday, February 25th. Stephens reiterated an “equal weight” rating and set a $26.00 target price on shares of First Busey in a report on Wednesday, April 23rd. Finally, Raymond James lowered their target price on shares of First Busey from $29.00 to $27.00 and set an “outperform” rating for the company in a report on Wednesday, April 2nd. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $27.80.

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.