Peregrine Capital Management LLC Has $4.90 Million Holdings in First Busey Corporation $BUSE

Peregrine Capital Management LLC lessened its stake in shares of First Busey Corporation (NASDAQ:BUSE) by 3.2% during the 2nd quarter, Holdings Channel.com reports. The institutional investor owned 213,949 shares of the bank’s stock after selling 7,177 shares during the quarter. Peregrine Capital Management LLC’s holdings in First Busey were worth $4,896,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of BUSE. Golden State Wealth Management LLC acquired a new stake in First Busey during the 1st quarter worth about $43,000. PNC Financial Services Group Inc. raised its holdings in First Busey by 56.4% during the 1st quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank’s stock worth $49,000 after buying an additional 812 shares during the period. Geneos Wealth Management Inc. raised its holdings in First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after buying an additional 2,004 shares during the period. Signaturefd LLC raised its holdings in First Busey by 23.7% during the 1st quarter. Signaturefd LLC now owns 2,524 shares of the bank’s stock worth $55,000 after buying an additional 483 shares during the period. Finally, Amalgamated Bank raised its holdings in First Busey by 59.3% during the 1st quarter. Amalgamated Bank now owns 2,881 shares of the bank’s stock worth $62,000 after buying an additional 1,073 shares during the period. Institutional investors and hedge funds own 56.49% of the company’s stock.

Insider Buying and Selling

In other news, Director Karen M. Jensen acquired 3,000 shares of the company’s stock in a transaction that occurred on Friday, September 12th. The shares were purchased at an average price of $24.60 per share, for a total transaction of $73,800.00. Following the completion of the acquisition, the director owned 86,798 shares of the company’s stock, valued at approximately $2,135,230.80. This represents a 3.58% increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Scott A. Phillips acquired 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average price of $25.25 per share, for a total transaction of $25,250.00. Following the acquisition, the chief financial officer directly owned 1,000 shares of the company’s stock, valued at $25,250. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Corporate insiders own 3.85% of the company’s stock.

First Busey Price Performance

Shares of BUSE opened at $23.24 on Wednesday. The company has a market capitalization of $2.07 billion, a price-to-earnings ratio of 20.75 and a beta of 0.77. First Busey Corporation has a fifty-two week low of $18.40 and a fifty-two week high of $28.30. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The business’s 50-day moving average is $23.86 and its 200-day moving average is $22.95.

First Busey (NASDAQ:BUSE) last issued its earnings results on Friday, May 20th. The bank reported $0.69 earnings per share for the quarter. The company had revenue of $63.34 million for the quarter. First Busey had a return on equity of 8.76% and a net margin of 9.48%. Equities research analysts expect that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 31st. Investors of record on Friday, October 24th will be issued a $0.25 dividend. The ex-dividend date is Friday, October 24th. This represents a $1.00 dividend on an annualized basis and a yield of 4.3%. First Busey’s dividend payout ratio is currently 89.29%.

Analyst Upgrades and Downgrades

BUSE has been the topic of several recent analyst reports. DA Davidson boosted their price objective on First Busey from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Raymond James Financial reiterated an “outperform” rating and issued a $28.00 target price (up previously from $27.00) on shares of First Busey in a report on Friday, August 29th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Busey in a report on Wednesday, October 8th. Piper Sandler began coverage on First Busey in a report on Tuesday, July 1st. They issued an “overweight” rating and a $30.00 target price on the stock. Finally, Keefe, Bruyette & Woods dropped their target price on First Busey from $30.00 to $29.00 and set an “outperform” rating on the stock in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, First Busey has a consensus rating of “Hold” and a consensus target price of $27.33.

First Busey 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.