LSV Asset Management Raises Position in First Busey Corporation $BUSE

LSV Asset Management boosted its holdings in First Busey Corporation (NASDAQ:BUSE) by 2.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,337,957 shares of the bank’s stock after buying an additional 28,900 shares during the period. LSV Asset Management owned approximately 1.50% of First Busey worth $30,619,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Dimensional Fund Advisors LP boosted its stake in First Busey by 45.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,096,605 shares of the bank’s stock worth $110,086,000 after purchasing an additional 1,596,262 shares during the period. Vanguard Group Inc. lifted its holdings in shares of First Busey by 52.2% in the first quarter. Vanguard Group Inc. now owns 4,706,925 shares of the bank’s stock worth $101,670,000 after buying an additional 1,613,848 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of First Busey by 3.8% in the second quarter. Geode Capital Management LLC now owns 2,073,087 shares of the bank’s stock valued at $47,448,000 after acquiring an additional 74,997 shares during the period. American Century Companies Inc. grew its stake in First Busey by 54.2% during the first quarter. American Century Companies Inc. now owns 1,731,366 shares of the bank’s stock valued at $37,398,000 after acquiring an additional 608,470 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in First Busey by 32.6% during the first quarter. Charles Schwab Investment Management Inc. now owns 937,591 shares of the bank’s stock valued at $20,252,000 after acquiring an additional 230,268 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other First Busey news, CAO Scott A. Phillips purchased 1,350 shares of the stock in a transaction on Friday, October 31st. The stock was acquired at an average cost of $25.64 per share, with a total value of $34,614.00. Following the completion of the purchase, the chief accounting officer directly owned 2,350 shares of the company’s stock, valued at approximately $60,254. This trade represents a 135.00% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Karen M. Jensen purchased 3,000 shares of the business’s stock in a transaction on Friday, September 12th. The shares were 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 approximately $2,135,230.80. This trade represents a 3.58% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. 3.85% of the stock is owned by company insiders.

First Busey Stock Up 0.8%

BUSE opened at $22.35 on Wednesday. The business’s fifty day simple moving average is $23.37 and its 200 day simple moving average is $23.21. First Busey Corporation has a 52 week low of $18.40 and a 52 week high of $28.30. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market cap of $1.98 billion, a PE ratio of 19.43 and a beta of 0.83.

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

First Busey Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Shareholders of record on Friday, October 24th were paid a $0.25 dividend. The ex-dividend date of this dividend was Friday, October 24th. This represents a $1.00 annualized dividend and a yield of 4.5%. First Busey’s dividend payout ratio is currently 86.96%.

Analysts Set New Price Targets

BUSE has been the topic of several recent analyst reports. Keefe, Bruyette & Woods lowered their target price on shares of First Busey from $30.00 to $29.00 and set an “outperform” rating on the stock in a research note on Thursday, July 24th. Weiss Ratings reiterated a “hold (c)” rating on shares of First Busey in a research report on Tuesday, November 11th. Raymond James Financial reissued an “outperform” rating and set a $26.00 price objective (down previously from $28.00) on shares of First Busey in a research note on Thursday, October 30th. Piper Sandler decreased their target price on First Busey from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Finally, DA Davidson raised their price target on First Busey from $23.00 to $26.00 and gave the company a “neutral” rating in a 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 MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $26.33.

First Busey 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.