LSV Asset Management raised its stake in shares of First Busey Corporation (NASDAQ:BUSE – Free Report) by 8.0% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,384,661 shares of the bank’s stock after buying an additional 102,904 shares during the period. LSV Asset Management’s holdings in First Busey were worth $32,941,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also modified their holdings of the company. Allworth Financial LP lifted its stake in shares of First Busey by 127.8% in the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after purchasing an additional 888 shares during the last quarter. Torren Management LLC acquired a new position in First Busey during the 4th quarter worth $40,000. Geneos Wealth Management Inc. lifted its position 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 acquiring an additional 2,004 shares during the last quarter. CIBC Private Wealth Group LLC lifted its position in First Busey by 111.9% during the 3rd quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank’s stock worth $91,000 after acquiring an additional 2,070 shares during the last quarter. Finally, Comerica Bank lifted its position in First Busey by 1,167.4% during the 4th quarter. Comerica Bank now owns 4,892 shares of the bank’s stock worth $116,000 after acquiring an additional 4,506 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of research analysts have weighed in on BUSE shares. Stephens boosted their target price on shares of First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. Piper Sandler boosted their target price on shares of First Busey from $29.00 to $30.00 and gave the stock an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings raised shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, DA Davidson reissued a “neutral” rating and set a $27.00 target price on shares of First Busey in a research report on Thursday, January 29th. Four equities research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $27.50.
Insiders Place Their Bets
In other First Busey news, CAO Scott A. Phillips bought 5,000 shares of the stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average price of $25.90 per share, with a total value of $129,500.00. Following the completion of the purchase, the chief accounting officer directly owned 8,350 shares in the company, valued at $216,265. The trade was a 149.25% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. 3.77% of the stock is currently owned by insiders.
First Busey Stock Performance
NASDAQ BUSE opened at $27.08 on Monday. The stock has a market cap of $2.29 billion, a P/E ratio of 12.04 and a beta of 0.72. The company’s 50-day simple moving average is $25.92 and its 200 day simple moving average is $25.09. First Busey Corporation has a twelve month low of $21.41 and a twelve month high of $27.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12.
First Busey (NASDAQ:BUSE – Get Free Report) last posted its earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. The business 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%. As a group, research analysts forecast that First Busey Corporation will post 2.57 earnings per share for the current fiscal year.
First Busey Dividend Announcement
The firm also recently announced a quarterly dividend, which was paid on Friday, May 1st. Investors of record on Friday, April 24th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.04 dividend on an annualized basis and a yield of 3.8%. First Busey’s payout ratio is presently 46.22%.
About First Busey
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.
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