Teacher Retirement System of Texas Has $268,000 Holdings in First Busey Corporation (NASDAQ:BUSE)

Teacher Retirement System of Texas cut its holdings in First Busey Corporation (NASDAQ:BUSE) by 72.7% during the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 12,393 shares of the bank’s stock after selling 32,931 shares during the period. Teacher Retirement System of Texas’ holdings in First Busey were worth $268,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of the business. Redmont Wealth Advisors LLC acquired a new position in shares of First Busey in the first quarter valued at about $318,000. Amalgamated Bank lifted its position in First Busey by 59.3% during the first quarter. Amalgamated Bank now owns 2,881 shares of the bank’s stock worth $62,000 after purchasing an additional 1,073 shares during the period. Waterfront Wealth Inc. bought a new stake in First Busey during the first quarter worth about $208,000. KBC Group NV bought a new stake in First Busey during the first quarter worth about $80,000. Finally, Golden State Wealth Management LLC bought a new stake in First Busey during the first quarter worth about $43,000. 56.49% of the stock is currently owned by institutional investors and hedge funds.

First Busey Stock Performance

NASDAQ:BUSE opened at $24.37 on Friday. The company has a market capitalization of $2.18 billion, a PE ratio of 22.78 and a beta of 0.77. The company has a 50 day simple moving average of $22.95 and a two-hundred day simple moving average of $22.56. The company has a debt-to-equity ratio of 0.18, a quick ratio of 0.90 and a current ratio of 0.90. First Busey Corporation has a fifty-two week low of $18.40 and a fifty-two week high of $28.97.

First Busey (NASDAQ:BUSE) last released its 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 business had revenue of $140.72 million during the quarter, compared to the consensus estimate of $140.15 million. First Busey had a net margin of 8.32% and a return on equity of 8.46%. Research analysts anticipate that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Friday, July 25th. Stockholders of record on Friday, July 18th will be given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date is Friday, July 18th. First Busey’s dividend payout ratio (DPR) is 93.46%.

Analyst Ratings Changes

Several equities research analysts recently weighed in on BUSE shares. Raymond James Financial upped their price objective on shares of First Busey from $25.00 to $27.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 8th. Piper Sandler assumed coverage on shares of First Busey in a research report on Tuesday, July 1st. They set an “overweight” rating and a $30.00 price objective for the company. Wall Street Zen raised shares of First Busey from a “sell” rating to a “hold” rating in a report on Thursday, May 22nd. Stephens reissued an “equal weight” rating and issued a $26.00 target price on shares of First Busey in a report on Wednesday, April 23rd. Finally, Hovde Group assumed coverage on shares of First Busey in a report on Monday, June 30th. They issued a “market perform” rating and a $25.00 target price for the company. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $27.67.

Insider Activity at First Busey

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

First Busey Company Profile

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.