First Busey Corporation $BUSE Shares Acquired by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lifted its holdings in shares of First Busey Corporation (NASDAQ:BUSE) by 32.6% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 937,591 shares of the bank’s stock after purchasing an additional 230,268 shares during the period. Charles Schwab Investment Management Inc. owned about 1.65% of First Busey worth $20,252,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Sterling Capital Management LLC grew its holdings in First Busey by 822.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank’s stock valued at $40,000 after buying an additional 1,522 shares during the last quarter. Quarry LP raised its holdings in shares of First Busey by 507.5% in the fourth quarter. Quarry LP now owns 1,786 shares of the bank’s stock worth $42,000 after acquiring an additional 1,492 shares during the last quarter. Golden State Wealth Management LLC purchased a new stake in shares of First Busey in the first quarter valued at $43,000. PNC Financial Services Group Inc. boosted its stake in shares of First Busey by 56.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank’s stock valued at $49,000 after acquiring an additional 812 shares during the last quarter. Finally, Signaturefd LLC boosted its stake in shares of First Busey by 23.7% during the first quarter. Signaturefd LLC now owns 2,524 shares of the bank’s stock valued at $55,000 after acquiring an additional 483 shares during the last quarter. Hedge funds and other institutional investors own 56.49% of the company’s stock.

Insider Transactions at First Busey

In other news, CFO Scott A. Phillips acquired 1,000 shares of First Busey stock in a transaction dated Tuesday, August 19th. The shares were acquired at an average cost of $25.25 per share, with a total value of $25,250.00. Following the purchase, the chief financial officer directly owned 1,000 shares of the company’s stock, valued at approximately $25,250. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Karen M. Jensen bought 4,000 shares of the firm’s stock in a transaction dated 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 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 position. The disclosure for this purchase can be found here. Over the last 90 days, insiders bought 8,950 shares of company stock worth $203,163. Company insiders own 3.85% of the company’s stock.

First Busey Stock Performance

NASDAQ:BUSE opened at $23.19 on Friday. The company has a market cap of $2.07 billion, a P/E ratio of 20.71 and a beta of 0.81. The firm’s 50 day moving average is $23.26 and its two-hundred day moving average is $22.54. First Busey Corporation has a fifty-two week low of $18.40 and a fifty-two week high of $28.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, topping analysts’ consensus estimates of $0.61 by $0.02. The business had revenue of $192.05 million during the quarter, compared to the consensus estimate of $193.91 million. First Busey had a return on equity of 8.76% and a net margin of 9.48%. Analysts expect that First Busey Corporation will post 2.61 EPS for the current year.

First Busey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, July 25th. Shareholders of record on Friday, July 18th were paid a dividend of $0.25 per share. The ex-dividend date was Friday, July 18th. This represents a $1.00 annualized dividend and a yield of 4.3%. First Busey’s dividend payout ratio is currently 89.29%.

Analysts Set New Price Targets

BUSE has been the subject of several analyst reports. DA Davidson boosted their target price on shares of First Busey from $23.00 to $26.00 and gave the company a “neutral” rating in a research note on Thursday, July 24th. Keefe, Bruyette & Woods cut their price objective on shares of First Busey from $30.00 to $29.00 and set an “outperform” rating for the company in a research report on Thursday, July 24th. Raymond James Financial upped their price objective on shares of First Busey from $25.00 to $27.00 and gave the company an “outperform” rating in a research note on Tuesday, July 8th. Wall Street Zen upgraded shares of First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd. Finally, Piper Sandler began coverage on First Busey in a report on Tuesday, July 1st. They issued an “overweight” rating and a $30.00 price target for the company. Three research analysts have rated the stock with a Buy rating and three have issued a Hold rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $27.17.

First Busey 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.