Stephen V. King Acquires 7,180 Shares of First Busey Co. (BUSE) Stock

First Busey Co. (NASDAQ:BUSE) Director Stephen V. King bought 7,180 shares of the business’s stock in a transaction that occurred on Friday, May 3rd. The shares were acquired at an average price of $26.59 per share, with a total value of $190,916.20. Following the transaction, the director now directly owns 7,357 shares of the company’s stock, valued at approximately $195,622.63. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.

NASDAQ:BUSE opened at $25.97 on Wednesday. The stock has a market cap of $1.41 billion, a P/E ratio of 12.05, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.85 and a quick ratio of 0.85. First Busey Co. has a 12-month low of $23.13 and a 12-month high of $33.25.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share for the quarter, missing the consensus estimate of $0.51 by ($0.03). The firm had revenue of $94.33 million for the quarter, compared to analysts’ expectations of $96.24 million. First Busey had a net margin of 25.94% and a return on equity of 10.23%. As a group, research analysts anticipate that First Busey Co. will post 2.15 EPS for the current year.



The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 19th were issued a dividend of $0.21 per share. This represents a $0.84 annualized dividend and a yield of 3.23%. The ex-dividend date of this dividend was Wednesday, April 17th. First Busey’s dividend payout ratio is presently 40.00%.

BUSE has been the subject of several research analyst reports. Zacks Investment Research upgraded First Busey from a “hold” rating to a “buy” rating and set a $29.00 target price for the company in a research report on Tuesday, January 15th. B. Riley reiterated a “buy” rating on shares of First Busey in a research report on Wednesday, April 10th. Finally, BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. One analyst has rated the stock with a sell rating, three have issued a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $30.75.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citigroup Inc. grew its holdings in First Busey by 166.5% during the 4th quarter. Citigroup Inc. now owns 9,248 shares of the bank’s stock valued at $227,000 after buying an additional 5,778 shares in the last quarter. Dimensional Fund Advisors LP grew its holdings in First Busey by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,308,610 shares of the bank’s stock valued at $56,653,000 after buying an additional 127,023 shares in the last quarter. Cozad Asset Management Inc. grew its holdings in First Busey by 39.5% during the 4th quarter. Cozad Asset Management Inc. now owns 27,529 shares of the bank’s stock valued at $676,000 after buying an additional 7,794 shares in the last quarter. California Public Employees Retirement System grew its holdings in First Busey by 31.8% during the 4th quarter. California Public Employees Retirement System now owns 88,031 shares of the bank’s stock valued at $2,160,000 after buying an additional 21,232 shares in the last quarter. Finally, Bank of Edwardsville purchased a new position in First Busey during the 1st quarter valued at approximately $13,681,000. Institutional investors and hedge funds own 44.98% of the company’s stock.

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First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.

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