Stieven Capital Advisors L.P. Sells 102,236 Shares of First Busey Corporation $BUSE

Stieven Capital Advisors L.P. lessened its holdings in shares of First Busey Corporation (NASDAQ:BUSE) by 24.6% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 312,764 shares of the bank’s stock after selling 102,236 shares during the period. Stieven Capital Advisors L.P.’s holdings in First Busey were worth $7,441,000 as of its most recent SEC filing.

A number of other hedge funds have also recently modified their holdings of BUSE. Allworth Financial LP boosted its holdings in shares of First Busey by 127.8% during the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after buying an additional 888 shares in the last quarter. Torren Management LLC bought a new stake in shares of First Busey during the 4th quarter valued at $40,000. Geneos Wealth Management Inc. boosted its holdings in shares of First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after buying an additional 2,004 shares in the last quarter. State of Alaska Department of Revenue bought a new stake in shares of First Busey during the 3rd quarter valued at $86,000. Finally, CIBC Private Wealth Group LLC boosted its holdings in shares of First Busey by 111.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank’s stock valued at $91,000 after buying an additional 2,070 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.

First Busey Stock Performance

Shares of First Busey stock opened at $27.08 on Friday. The stock has a market cap of $2.29 billion, a price-to-earnings ratio of 12.04 and a beta of 0.72. The firm’s 50-day moving average is $25.92 and its 200 day moving average is $25.07. First Busey Corporation has a 1 year low of $21.41 and a 1 year high of $27.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $197.17 million for the quarter, compared to analysts’ expectations of $197.15 million. First Busey had a net margin of 19.16% and a return on equity of 10.19%. Sell-side analysts anticipate that First Busey Corporation will post 2.57 EPS for the current fiscal year.

First Busey Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 24th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, April 24th. This represents a $1.04 annualized dividend and a yield of 3.8%. First Busey’s dividend payout ratio is currently 46.22%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on BUSE shares. Piper Sandler boosted their target price on shares of First Busey from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. DA Davidson reiterated a “neutral” rating and issued a $27.00 price target on shares of First Busey in a research note on Thursday, January 29th. Weiss Ratings upgraded shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Stephens upped their price target on shares of First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research note on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, First Busey presently has a consensus rating of “Moderate Buy” and an average price target of $27.50.

Insider Transactions at First Busey

In related news, CAO Scott A. Phillips bought 5,000 shares of the stock in a transaction on Monday, May 4th. The shares were acquired at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the purchase, the chief accounting officer owned 8,350 shares of the company’s stock, valued at approximately $216,265. The trade was a 149.25% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 3.77% of the company’s stock.

First Busey Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.