First Busey Corporation (NASDAQ:BUSE – Get Free Report) Director Michael Cassens sold 1,441 shares of First Busey stock in a transaction dated Tuesday, September 15th. The stock was sold at an average price of $30.45, for a total value of $43,878.45. Following the sale, the director owned 130,012 shares of the company’s stock, valued at approximately $3,958,865.40. This represents a 1.10% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.
Michael David Cassens also recently made the following trade(s):
- On Monday, August 17th, Michael Cassens sold 1,441 shares of First Busey stock. The shares were sold at an average price of $31.08, for a total transaction of $44,786.28.
First Busey Price Performance
NASDAQ:BUSE opened at $30.24 on Thursday. The firm has a market cap of $2.50 billion, a price-to-earnings ratio of 12.50 and a beta of 0.71. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.11. The company’s 50-day moving average is $30.37 and its two-hundred day moving average is $28.03. First Busey Corporation has a 12-month low of $22.00 and a 12-month high of $31.70.
First Busey Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 24th were paid a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.4%. The ex-dividend date of this dividend was Friday, July 24th. First Busey’s payout ratio is presently 42.98%.
Institutional Inflows and Outflows
Large investors have recently made changes to their positions in the company. Sequoia Financial Advisors LLC grew its position in First Busey by 161.2% during the second quarter. Sequoia Financial Advisors LLC now owns 31,556 shares of the bank’s stock valued at $931,000 after acquiring an additional 19,473 shares during the period. WINTON GROUP Ltd purchased a new position in shares of First Busey in the 2nd quarter worth about $242,000. Engineers Gate Manager LP acquired a new position in shares of First Busey in the 2nd quarter valued at about $503,000. Integrated Wealth Concepts LLC acquired a new position in shares of First Busey in the 2nd quarter valued at about $34,000. Finally, Squarepoint Ops LLC grew its holdings in shares of First Busey by 3.3% during the 2nd quarter. Squarepoint Ops LLC now owns 30,764 shares of the bank’s stock worth $908,000 after purchasing an additional 994 shares during the period. 56.49% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research analysts have weighed in on BUSE shares. Wall Street Zen upgraded First Busey from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Zacks Research cut First Busey from a “strong-buy” rating to a “hold” rating in a report on Friday, August 21st. Raymond James Financial upped their price objective 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. Weiss Ratings reiterated a “buy (b)” rating on shares of First Busey in a report on Friday, August 7th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of First Busey from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday, July 31st. Four analysts have rated the stock with a Buy rating and three have given a Hold rating to the company. According to MarketBeat.com, First Busey presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.
Read Our Latest Report on BUSE
About First Busey
First Busey Corporation is a financial holding company headquartered in Champaign, Illinois. Its principal subsidiary, Busey Bank, provides banking services to individuals, families, businesses and institutions through branch locations and digital banking channels.
The company offers deposit accounts, consumer and commercial loans, mortgages, treasury management, cash management and other traditional banking products. Through its wealth management operations, First Busey also provides investment management, trust, retirement planning, financial planning and related advisory services.
First Busey traces its history to 1868 and serves customers primarily across Illinois, as well as selected markets in Indiana, Missouri and Florida.
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