Aigen Investment Management LP Invests $270,000 in First Busey Corporation (NASDAQ:BUSE)

Aigen Investment Management LP bought a new position in shares of First Busey Corporation (NASDAQ:BUSE) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 12,484 shares of the bank’s stock, valued at approximately $270,000.

Several other hedge funds have also modified their holdings of the company. King Luther Capital Management Corp purchased a new stake in shares of First Busey during the 1st quarter worth about $15,301,000. Invesco Ltd. boosted its stake in shares of First Busey by 57.3% during the 1st quarter. Invesco Ltd. now owns 192,487 shares of the bank’s stock worth $4,158,000 after acquiring an additional 70,132 shares in the last quarter. Swiss National Bank boosted its stake in shares of First Busey by 47.4% during the 1st quarter. Swiss National Bank now owns 164,800 shares of the bank’s stock worth $3,560,000 after acquiring an additional 53,001 shares in the last quarter. Deutsche Bank AG boosted its stake in shares of First Busey by 52.9% during the 1st quarter. Deutsche Bank AG now owns 70,283 shares of the bank’s stock worth $1,518,000 after acquiring an additional 24,307 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. lifted its stake in First Busey by 32.6% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 937,591 shares of the bank’s stock valued at $20,252,000 after buying an additional 230,268 shares in the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of brokerages recently weighed in on BUSE. Piper Sandler began coverage on shares of First Busey in a research note on Tuesday, July 1st. They issued an “overweight” rating and a $30.00 price target on the stock. Raymond James Financial raised their price target on shares of First Busey from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Hovde Group began coverage on shares of First Busey in a research note on Monday, June 30th. They issued a “market perform” rating and a $25.00 price target on the stock. Keefe, Bruyette & Woods decreased their price target on shares of First Busey from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, July 24th. Finally, DA Davidson raised their price target on shares of First Busey from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $27.17.

First Busey Trading Down 0.9%

BUSE opened at $23.44 on Friday. 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 company’s 50 day simple moving average is $23.22 and its two-hundred day simple moving average is $22.57. First Busey Corporation has a 1-year low of $18.40 and a 1-year high of $28.30. The firm has a market capitalization of $2.09 billion, a price-to-earnings ratio of 20.93 and a beta of 0.81.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. First Busey had a net margin of 9.48% and a return on equity of 8.76%. The business had revenue of $192.05 million for the quarter, compared to analyst estimates of $193.91 million. Analysts expect that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 18th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 18th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.3%. First Busey’s dividend payout ratio (DPR) is currently 89.29%.

Insider Buying and Selling

In other news, Director Karen M. Jensen purchased 2,500 shares of the business’s stock in a transaction dated Friday, July 25th. The stock was acquired at an average price of $23.25 per share, for a total transaction of $58,125.00. Following the acquisition, the director directly owned 83,568 shares of the company’s stock, valued at approximately $1,942,956. This represents a 3.08% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven W. Caple purchased 1,175 shares of the business’s stock in a transaction dated Friday, May 23rd. The shares were purchased at an average price of $21.60 per share, with a total value of $25,380.00. Following the acquisition, the director directly owned 4,509 shares in the company, valued at approximately $97,394.40. The trade was a 35.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders have bought a total of 15,625 shares of company stock valued at $344,273 in the last 90 days. Insiders own 3.85% of the company’s stock.

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.