First Busey (NASDAQ:BUSE) Hits New 52-Week High at $25.82

First Busey Co. (NASDAQ:BUSE) reached a new 52-week high during mid-day trading on Friday . The stock traded as high as $25.82 and last traded at $25.77, with a volume of 40474 shares. The stock had previously closed at $25.37.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on BUSE shares. Stephens reissued an “overweight” rating and set a $28.00 price target on shares of First Busey in a report on Wednesday, April 24th. StockNews.com upgraded shares of First Busey from a “sell” rating to a “hold” rating in a research report on Saturday, July 6th. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $25.75.

First Busey Price Performance

The company’s fifty day moving average price is $23.12 and its 200 day moving average price is $23.31. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. The firm has a market capitalization of $1.44 billion, a price-to-earnings ratio of 12.81 and a beta of 0.86.

First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.49 by ($0.02). The firm had revenue of $110.77 million for the quarter, compared to analyst estimates of $109.06 million. First Busey had a net margin of 18.08% and a return on equity of 9.37%. Equities research analysts expect that First Busey Co. will post 2.13 earnings per share for the current year.

First Busey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 19th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a yield of 3.78%. The ex-dividend date is Friday, July 19th. First Busey’s payout ratio is 48.48%.

Insider Transactions at First Busey

In other news, EVP John Joseph Powers sold 6,090 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $23.54, for a total value of $143,358.60. Following the completion of the sale, the executive vice president now directly owns 89,511 shares of the company’s stock, valued at approximately $2,107,088.94. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other First Busey news, CEO Van A. Dukeman sold 16,539 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $23.54, for a total value of $389,328.06. Following the transaction, the chief executive officer now owns 386,277 shares in the company, valued at approximately $9,092,960.58. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, EVP John Joseph Powers sold 6,090 shares of the company’s stock in a transaction that occurred on Friday, July 5th. The shares were sold at an average price of $23.54, for a total transaction of $143,358.60. Following the completion of the transaction, the executive vice president now owns 89,511 shares in the company, valued at approximately $2,107,088.94. The disclosure for this sale can be found here. In the last three months, insiders purchased 365 shares of company stock valued at $7,725 and sold 27,390 shares valued at $642,668. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On First Busey

Several large investors have recently bought and sold shares of the stock. Lindbrook Capital LLC raised its stake in shares of First Busey by 1,143.5% in the 4th quarter. Lindbrook Capital LLC now owns 1,057 shares of the bank’s stock valued at $26,000 after buying an additional 972 shares in the last quarter. Acadian Asset Management LLC acquired a new stake in shares of First Busey during the 1st quarter worth about $115,000. SG Americas Securities LLC acquired a new stake in shares of First Busey during the 1st quarter worth about $142,000. EMC Capital Management increased its position in shares of First Busey by 27.3% during the 1st quarter. EMC Capital Management now owns 8,606 shares of the bank’s stock worth $207,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Sierra Summit Advisors LLC acquired a new stake in shares of First Busey during the 4th quarter worth about $238,000. 56.49% of the stock is currently owned by institutional investors and hedge funds.

About First Busey

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.