First Busey’s (BUSE) “Neutral” Rating Reaffirmed at DA Davidson

DA Davidson reaffirmed their neutral rating on shares of First Busey (NASDAQ:BUSEGet Rating) in a report issued on Wednesday morning, PriceTargets.com reports. DA Davidson also issued estimates for First Busey’s FY2022 earnings at $2.15 EPS and FY2023 earnings at $2.25 EPS.

A number of other research analysts have also issued reports on the company. B. Riley decreased their target price on First Busey from $27.00 to $23.00 in a report on Monday, July 11th. StockNews.com started coverage on First Busey in a report on Thursday, March 31st. They issued a hold rating for the company.

First Busey Trading Up 1.3 %

BUSE opened at $24.65 on Wednesday. First Busey has a 52 week low of $21.66 and a 52 week high of $29.73. The business has a fifty day simple moving average of $23.33 and a 200-day simple moving average of $25.01. The firm has a market cap of $1.36 billion, a P/E ratio of 12.14 and a beta of 0.89. The company has a quick ratio of 0.71, a current ratio of 0.71 and a debt-to-equity ratio of 0.28.

First Busey (NASDAQ:BUSEGet Rating) last released its quarterly earnings results on Tuesday, July 26th. The bank reported $0.53 EPS for the quarter, missing the consensus estimate of $0.57 by ($0.04). First Busey had a return on equity of 9.79% and a net margin of 25.44%. During the same period in the previous year, the business earned $0.57 EPS. On average, equities analysts expect that First Busey will post 2.28 earnings per share for the current year.

First Busey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, July 29th. Shareholders of record on Friday, July 22nd were issued a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 3.73%. The ex-dividend date was Thursday, July 21st. First Busey’s dividend payout ratio (DPR) is 45.32%.

Insiders Place Their Bets

In other First Busey news, Director Michael David Cassens sold 2,300 shares of First Busey stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $23.30, for a total transaction of $53,590.00. Following the completion of the sale, the director now directly owns 180,589 shares of the company’s stock, valued at approximately $4,207,723.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, Director Stanley J. Bradshaw bought 3,250 shares of the business’s stock in a transaction dated Wednesday, June 15th. The shares were acquired at an average price of $22.49 per share, for a total transaction of $73,092.50. Following the completion of the transaction, the director now owns 31,850 shares of the company’s stock, valued at $716,306.50. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Michael David Cassens sold 2,300 shares of First Busey stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $23.30, for a total value of $53,590.00. Following the sale, the director now owns 180,589 shares in the company, valued at approximately $4,207,723.70. The disclosure for this sale can be found here. 7.40% of the stock is owned by company insiders.

Institutional Trading of First Busey

A number of hedge funds and other institutional investors have recently made changes to their positions in BUSE. Stieven Capital Advisors L.P. acquired a new stake in shares of First Busey during the fourth quarter worth about $13,115,000. Wellington Management Group LLP increased its position in shares of First Busey by 13.8% during the first quarter. Wellington Management Group LLP now owns 1,818,626 shares of the bank’s stock worth $46,084,000 after purchasing an additional 220,093 shares in the last quarter. Assenagon Asset Management S.A. increased its position in shares of First Busey by 556.3% during the second quarter. Assenagon Asset Management S.A. now owns 226,089 shares of the bank’s stock worth $5,166,000 after purchasing an additional 191,641 shares in the last quarter. Siena Capital Partners GP LLC acquired a new stake in shares of First Busey during the second quarter worth about $3,501,000. Finally, Dimensional Fund Advisors LP increased its position in First Busey by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,684,215 shares of the bank’s stock valued at $68,019,000 after acquiring an additional 104,955 shares during the period. Institutional investors and hedge funds own 48.65% of the company’s stock.

First Busey Company Profile

(Get Rating)

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates through three segments: Banking, FirsTech, and Wealth Management.

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