Sei Investments Co. Buys 36,140 Shares of First Busey Corporation $BUSE

Sei Investments Co. grew its position in First Busey Corporation (NASDAQ:BUSE) by 13.6% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 301,323 shares of the bank’s stock after purchasing an additional 36,140 shares during the period. Sei Investments Co. owned about 0.36% of First Busey worth $7,614,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Savvy Advisors Inc. bought a new position in shares of First Busey in the fourth quarter valued at approximately $2,905,000. Northwestern Mutual Wealth Management Co. grew its position in First Busey by 36,664.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock worth $74,510,000 after acquiring an additional 3,123,454 shares during the last quarter. Sunesis Advisors LLC bought a new stake in First Busey during the 4th quarter worth approximately $3,732,000. Assenagon Asset Management S.A. bought a new stake in First Busey during the 1st quarter worth approximately $1,743,000. Finally, LSV Asset Management increased its holdings in First Busey by 8.0% during the 4th quarter. LSV Asset Management now owns 1,384,661 shares of the bank’s stock valued at $32,941,000 after purchasing an additional 102,904 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on BUSE. Stephens lifted their price objective on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. DA Davidson increased their target price on First Busey from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday. Raymond James Financial raised their target price on First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Keefe, Bruyette & Woods lifted their price target on First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday. Finally, Wall Street Zen raised First Busey from a “sell” rating to a “hold” rating in a report on Saturday. One investment analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $32.00.

First Busey Price Performance

NASDAQ:BUSE opened at $30.86 on Monday. The company has a market cap of $2.61 billion, a price-to-earnings ratio of 12.75 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. The stock’s fifty day moving average price is $28.90 and its two-hundred day moving average price is $26.86. First Busey Corporation has a 52-week low of $21.63 and a 52-week high of $31.43.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, July 28th. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. The company had revenue of $194.27 million during the quarter, compared to analysts’ expectations of $197.59 million. First Busey had a return on equity of 10.42% and a net margin of 21.00%. On average, analysts anticipate that First Busey Corporation will post 2.67 EPS for the current year.

First Busey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 24th were issued a $0.26 dividend. The ex-dividend date was Friday, July 24th. This represents a $1.04 annualized dividend and a yield of 3.4%. First Busey’s dividend payout ratio (DPR) is currently 42.98%.

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.