2,001 Shares in First Busey Corporation (NASDAQ:BUSE) Bought by Golden State Wealth Management LLC

Golden State Wealth Management LLC bought a new position in First Busey Corporation (NASDAQ:BUSE) during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm bought 2,001 shares of the bank’s stock, valued at approximately $43,000.

Several other large investors have also recently added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC acquired a new stake in First Busey in the 1st quarter valued at $263,000. Philip James Wealth Mangement LLC acquired a new stake in shares of First Busey during the first quarter valued at about $570,000. Kavar Capital Partners Group LLC acquired a new stake in shares of First Busey during the first quarter valued at about $1,802,000. TrueMark Investments LLC acquired a new stake in shares of First Busey during the first quarter valued at about $5,162,000. Finally, Cambridge Investment Research Advisors Inc. acquired a new stake in shares of First Busey during the first quarter valued at about $372,000. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, Director Karen M. Jensen bought 4,000 shares of the company’s stock in a transaction that occurred on Friday, May 30th. The shares were purchased at an average price of $22.00 per share, with a total value of $88,000.00. Following the completion of the acquisition, the director directly owned 76,068 shares in the company, valued at approximately $1,673,496. This trade represents a 5.55% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven W. Caple bought 1,175 shares of the company’s stock in a transaction that occurred on Friday, May 23rd. The shares were purchased at an average cost of $21.60 per share, for a total transaction of $25,380.00. Following the acquisition, the director owned 4,509 shares of the company’s stock, valued at $97,394.40. This represents a 35.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 13,125 shares of company stock worth $286,148. Corporate insiders own 3.85% of the company’s stock.

Analysts Set New Price Targets

BUSE has been the subject of several recent analyst reports. Raymond James Financial lowered their target price on First Busey from $29.00 to $27.00 and set an “outperform” rating for the company in a research note on Wednesday, April 2nd. Wall Street Zen upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Stephens reiterated an “equal weight” rating and issued a $26.00 price target on shares of First Busey in a research note on Wednesday, April 23rd. Piper Sandler began coverage on First Busey in a research note on Tuesday, July 1st. They issued an “overweight” rating and a $30.00 price target for the company. Finally, Hovde Group began coverage on First Busey in a research note on Monday, June 30th. They issued a “market perform” rating and a $25.00 price target for the company. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $27.67.

First Busey Stock Performance

Shares of BUSE stock opened at $24.36 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.18. The business has a 50 day moving average of $22.41 and a two-hundred day moving average of $22.53. First Busey Corporation has a 52 week low of $18.40 and a 52 week high of $28.97. The company has a market cap of $2.18 billion, a P/E ratio of 22.77 and a beta of 0.77.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.53 by $0.04. The company had revenue of $140.72 million for the quarter, compared to analysts’ expectations of $140.15 million. First Busey had a return on equity of 8.46% and a net margin of 8.32%. As a group, analysts anticipate that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 25th. Stockholders of record on Friday, April 18th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, April 17th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.11%. First Busey’s dividend payout ratio (DPR) is presently 93.46%.

About First Busey

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.