Y Intercept Hong Kong Ltd Has $1.41 Million Stake in First Busey Corporation $BUSE

Y Intercept Hong Kong Ltd grew its stake in First Busey Corporation (NASDAQ:BUSE) by 129.1% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,668 shares of the bank’s stock after acquiring an additional 34,746 shares during the period. Y Intercept Hong Kong Ltd owned 0.07% of First Busey worth $1,411,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Golden State Wealth Management LLC bought a new position in First Busey during the first quarter worth about $43,000. PNC Financial Services Group Inc. grew its holdings in First Busey by 56.4% during the first quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank’s stock worth $49,000 after purchasing an additional 812 shares during the period. Geneos Wealth Management Inc. grew its holdings in First Busey by 726.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after purchasing an additional 2,004 shares during the period. Signaturefd LLC grew its holdings in First Busey by 23.7% during the first quarter. Signaturefd LLC now owns 2,524 shares of the bank’s stock worth $55,000 after purchasing an additional 483 shares during the period. Finally, Amalgamated Bank grew its holdings 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. Institutional investors own 56.49% of the company’s stock.

First Busey Trading Down 0.7%

Shares of BUSE stock opened at $22.36 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. First Busey Corporation has a 12-month low of $18.40 and a 12-month high of $28.30. The firm has a 50 day moving average price of $23.79 and a two-hundred day moving average price of $23.03. The company has a market capitalization of $1.99 billion, a PE ratio of 19.44 and a beta of 0.77.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Friday, May 20th. The bank reported $0.69 earnings per share for the quarter. First Busey had a net margin of 11.00% and a return on equity of 9.56%. The company had revenue of $63.34 million during the quarter. As a group, analysts predict that First Busey Corporation will post 2.61 earnings per share for the current year.

First Busey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 24th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.5%. The ex-dividend date was Friday, October 24th. First Busey’s payout ratio is presently 86.96%.

Insider Buying and Selling

In other First Busey news, CFO Scott A. Phillips purchased 1,000 shares of the company’s stock in a transaction dated Tuesday, August 19th. The stock was bought at an average cost of $25.25 per share, for a total transaction of $25,250.00. Following the completion of the transaction, the chief financial officer owned 1,000 shares in the company, valued at approximately $25,250. This represents a ∞ increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this link. Also, Director Karen M. Jensen purchased 3,000 shares of the company’s stock in a transaction dated Friday, September 12th. The stock was acquired at an average price of $24.60 per share, with a total value of $73,800.00. Following the completion of the transaction, the director owned 86,798 shares of the company’s stock, valued at $2,135,230.80. This represents a 3.58% increase in their position. The disclosure for this purchase is available in the SEC filing. 3.85% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on the company. Raymond James Financial reiterated an “outperform” rating and set a $26.00 price target (down previously from $28.00) on shares of First Busey in a report on Thursday. DA Davidson lifted their price target on First Busey from $23.00 to $26.00 and gave the stock a “neutral” rating in a report on Thursday, July 24th. Piper Sandler cut their price objective on shares of First Busey from $30.00 to $26.00 and set an “overweight” rating for the company in a research report on Friday. Weiss Ratings restated a “hold (c)” rating on shares of First Busey in a research report on Wednesday, October 8th. Finally, 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. Three investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $26.33.

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.