Cresset Asset Management LLC Purchases 538 Shares of First Busey Corporation $BUSE

Cresset Asset Management LLC grew its stake in shares of First Busey Corporation (NASDAQ:BUSE) by 2.7% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 20,633 shares of the bank’s stock after purchasing an additional 538 shares during the quarter. Cresset Asset Management LLC’s holdings in First Busey were worth $446,000 at the end of the most recent quarter.

Other large investors have also recently made changes to their positions in the company. Quarry LP boosted its stake in shares of First Busey by 507.5% during the fourth quarter. Quarry LP now owns 1,786 shares of the bank’s stock valued at $42,000 after purchasing an additional 1,492 shares during the period. Golden State Wealth Management LLC purchased a new stake in First Busey in the first quarter worth about $43,000. PNC Financial Services Group Inc. lifted its stake in First Busey by 56.4% in the first quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank’s stock worth $49,000 after acquiring an additional 812 shares during the period. Signaturefd LLC lifted its stake in First Busey by 23.7% in the first quarter. Signaturefd LLC now owns 2,524 shares of the bank’s stock worth $55,000 after acquiring an additional 483 shares during the period. Finally, Amalgamated Bank lifted its stake in First Busey by 59.3% in the first quarter. Amalgamated Bank now owns 2,881 shares of the bank’s stock worth $62,000 after acquiring an additional 1,073 shares during the period. 56.49% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CFO Scott A. Phillips acquired 1,000 shares of the business’s stock in a transaction dated Tuesday, August 19th. The shares were purchased at an average price of $25.25 per share, for a total transaction of $25,250.00. Following the completion of the acquisition, the chief financial officer directly owned 1,000 shares in the company, valued at $25,250. The trade was a ∞ increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Karen M. Jensen acquired 4,000 shares of the business’s stock in a transaction dated Friday, May 30th. The shares were bought 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. This represents a 5.55% increase in their ownership of the stock. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 8,950 shares of company stock worth $203,163. Corporate insiders own 3.85% of the company’s stock.

First Busey Stock Performance

BUSE stock opened at $24.17 on Monday. The firm has a market cap of $2.15 billion, a price-to-earnings ratio of 21.58 and a beta of 0.81. The firm has a 50-day simple moving average of $23.29 and a two-hundred day simple moving average of $22.50. First Busey Corporation has a one year low of $18.40 and a one year high of $28.30. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.90 and a current ratio of 0.90.

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

First Busey Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Stockholders of record on Friday, July 18th were issued a dividend of $0.25 per share. The ex-dividend date was Friday, July 18th. This represents a $1.00 annualized dividend and a dividend yield of 4.1%. First Busey’s dividend payout ratio is 89.29%.

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Wall Street Zen raised shares of First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, May 22nd. Piper Sandler assumed coverage on shares of First Busey in a research note on Tuesday, July 1st. They issued an “overweight” rating and a $30.00 price objective for the company. 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 note on Tuesday, July 8th. Keefe, Bruyette & Woods lowered 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 note on Thursday, July 24th. Finally, DA Davidson upped their price objective on shares of First Busey from $23.00 to $26.00 and gave the stock a “neutral” rating in a research note on Thursday, July 24th. Three analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $27.17.

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.