Kestra Advisory Services LLC Reduces Stock Position in First Busey Corporation $BUSE

Kestra Advisory Services LLC lessened its holdings in First Busey Corporation (NASDAQ:BUSE) by 62.9% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 14,769 shares of the bank’s stock after selling 25,055 shares during the quarter. Kestra Advisory Services LLC’s holdings in First Busey were worth $373,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Wellington Management Group LLP boosted its stake in shares of First Busey by 94.4% during the third quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank’s stock valued at $165,196,000 after purchasing an additional 3,464,965 shares during the period. Northwestern Mutual Wealth Management Co. boosted its position in First Busey by 36,664.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock valued at $74,510,000 after buying an additional 3,123,454 shares during the period. Verition Fund Management LLC grew its stake in First Busey by 69.1% in the 4th quarter. Verition Fund Management LLC now owns 601,355 shares of the bank’s stock worth $14,306,000 after acquiring an additional 245,832 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in First Busey by 57.6% in the 4th quarter. Goldman Sachs Group Inc. now owns 552,410 shares of the bank’s stock worth $13,142,000 after acquiring an additional 201,807 shares in the last quarter. Finally, Jane Street Group LLC increased its position in shares of First Busey by 1,659.8% during the first quarter. Jane Street Group LLC now owns 172,810 shares of the bank’s stock worth $3,733,000 after acquiring an additional 162,990 shares during the period. Hedge funds and other institutional investors own 56.49% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BUSE shares. Stephens lifted their price target on shares of First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Zacks Research raised First Busey from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Wall Street Zen downgraded First Busey from a “hold” rating to a “sell” rating in a report on Sunday, July 12th. Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Piper Sandler upped their target price on First Busey from $30.00 to $32.00 and gave the stock an “overweight” rating in a report on Friday, June 26th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating and two have given a Hold rating to the stock. Based on data from MarketBeat, First Busey currently has an average rating of “Moderate Buy” and a consensus price target of $29.75.

Insider Activity

In related news, CAO Scott A. Phillips purchased 5,000 shares of First Busey stock in a transaction dated Monday, May 4th. The stock was purchased at an average cost of $25.90 per share, with a total value of $129,500.00. Following the transaction, the chief accounting officer owned 8,350 shares in the company, valued at approximately $216,265. The trade was a 149.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 3.77% of the company’s stock.

First Busey Price Performance

Shares of BUSE opened at $30.23 on Wednesday. The company has a 50 day moving average price of $28.66 and a 200-day moving average price of $26.72. First Busey Corporation has a fifty-two week low of $21.63 and a fifty-two week high of $30.51. The stock has a market capitalization of $2.56 billion, a PE ratio of 13.44 and a beta of 0.72. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $194.27 million for the quarter, compared to analyst estimates of $197.59 million. First Busey had a net margin of 19.16% and a return on equity of 10.19%. Equities analysts predict that First Busey Corporation will post 2.6 earnings per share for the current fiscal year.

First Busey Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Shareholders of record on Friday, July 24th will be given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend is Friday, July 24th. First Busey’s dividend payout ratio (DPR) is 46.22%.

First Busey Company 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.