71,539 Shares in First Busey Corporation $BUSE Bought by Canvas Wealth Advisors LLC

Canvas Wealth Advisors LLC acquired a new position in First Busey Corporation (NASDAQ:BUSE) in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 71,539 shares of the bank’s stock, valued at approximately $1,702,000. Canvas Wealth Advisors LLC owned approximately 0.08% of First Busey at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Royal Bank of Canada boosted its holdings in shares of First Busey by 95.9% during the 1st quarter. Royal Bank of Canada now owns 18,143 shares of the bank’s stock valued at $392,000 after buying an additional 8,884 shares in the last quarter. AQR Capital Management LLC increased its stake in shares of First Busey by 16.8% in the 1st quarter. AQR Capital Management LLC now owns 198,945 shares of the bank’s stock worth $4,297,000 after acquiring an additional 28,605 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in First Busey by 64.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 19,431 shares during the period. Goldman Sachs Group Inc. boosted its stake in First Busey by 9.0% during the first quarter. Goldman Sachs Group Inc. now owns 469,310 shares of the bank’s stock worth $10,137,000 after acquiring an additional 38,773 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in First Busey by 78.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank’s stock worth $4,796,000 after acquiring an additional 97,560 shares in the last quarter. Hedge funds and other institutional investors own 56.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on BUSE. Weiss Ratings raised shares of First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 3rd. DA Davidson reissued a “neutral” rating and issued a $27.00 price target on shares of First Busey in a research report on Thursday, January 29th. Finally, Piper Sandler upped their price target on First Busey from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $27.00.

First Busey Stock Performance

Shares of First Busey stock opened at $24.90 on Thursday. First Busey Corporation has a 1 year low of $18.40 and a 1 year high of $27.65. The firm’s 50-day moving average is $25.45 and its 200 day moving average is $24.34. The stock has a market cap of $2.15 billion, a price-to-earnings ratio of 19.30 and a beta of 0.76. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, January 27th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The business had revenue of $201.78 million during the quarter, compared to analyst estimates of $197.70 million. First Busey had a net margin of 12.96% and a return on equity of 9.46%. Sell-side analysts anticipate that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 23rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. This is an increase from First Busey’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, January 23rd. First Busey’s payout ratio is 80.62%.

First Busey Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.