Kestra Advisory Services LLC Sells 25,055 Shares of First Busey Corporation $BUSE

Kestra Advisory Services LLC trimmed its position in First Busey Corporation (NASDAQ:BUSEFree Report) by 62.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,769 shares of the bank’s stock after selling 25,055 shares during the period. 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 institutional investors and hedge funds have also bought and sold shares of the company. Parkside Financial Bank & Trust acquired a new stake in shares of First Busey in the 4th quarter worth $28,000. Litman Gregory Wealth Management LLC acquired a new position in First Busey during the 4th quarter valued at about $30,000. Allworth Financial LP raised its stake in First Busey by 127.8% in the fourth quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after buying an additional 888 shares during the last quarter. Torren Management LLC purchased a new stake in First Busey in the fourth quarter valued at about $40,000. Finally, Geneos Wealth Management Inc. boosted its holdings in First Busey by 726.1% in the first 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 in the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Stock Performance

Shares of BUSE stock opened at $30.23 on Wednesday. The business has a fifty day moving average of $28.66 and a 200 day moving average of $26.72. First Busey Corporation has a 1 year low of $21.63 and a 1 year high of $30.51. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.56 billion, a price-to-earnings ratio of 13.44 and a beta of 0.72.

First Busey (NASDAQ:BUSEGet Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. The business had revenue of $194.27 million for the quarter, compared to the consensus estimate of $197.59 million. First Busey had a return on equity of 10.19% and a net margin of 19.16%. As a group, research analysts expect that First Busey Corporation will post 2.6 earnings per share for the current year.

First Busey Dividend Announcement

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

Insider Activity at First Busey

In other news, CAO Scott A. Phillips bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were purchased at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the completion of the transaction, the chief accounting officer directly owned 8,350 shares in the company, valued at approximately $216,265. This represents a 149.25% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. 3.77% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on BUSE. Zacks Research upgraded First Busey from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Wall Street Zen lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. 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. 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. Finally, Raymond James Financial upped their price target on shares of First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. One equities research analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $29.75.

Check Out Our Latest Research Report on First Busey

First Busey Profile

(Free Report)

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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Institutional Ownership by Quarter for First Busey (NASDAQ:BUSE)

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