Kuhn & Co Investment Counsel Makes New Investment in First Busey Corporation $BUSE

Kuhn & Co Investment Counsel acquired a new stake in shares of First Busey Corporation (NASDAQ:BUSE) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund acquired 10,018 shares of the bank’s stock, valued at approximately $229,000.

A number of other large investors have also bought and sold shares of BUSE. Cresset Asset Management LLC lifted its stake in First Busey by 2.7% in the first quarter. Cresset Asset Management LLC now owns 20,633 shares of the bank’s stock valued at $446,000 after buying an additional 538 shares in the last quarter. Teacher Retirement System of Texas raised its holdings in shares of First Busey by 4.6% during the second quarter. Teacher Retirement System of Texas now owns 12,965 shares of the bank’s stock worth $297,000 after acquiring an additional 572 shares during the period. Ameritas Investment Partners Inc. lifted its position in First Busey by 8.0% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 8,745 shares of the bank’s stock valued at $200,000 after acquiring an additional 648 shares in the last quarter. SummerHaven Investment Management LLC boosted its stake in First Busey by 1.0% in the 2nd quarter. SummerHaven Investment Management LLC now owns 69,002 shares of the bank’s stock worth $1,579,000 after purchasing an additional 695 shares during the period. Finally, PNC Financial Services Group Inc. boosted its stake in First Busey by 56.4% in the 1st 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. 56.49% of the stock is owned by institutional investors.

Insider Activity

In other First Busey news, Director Karen M. Jensen acquired 3,000 shares of the business’s stock in a transaction dated Friday, September 12th. The stock was bought at an average cost of $24.60 per share, with a total value of $73,800.00. Following the completion of the transaction, the director directly owned 86,798 shares in the company, valued at approximately $2,135,230.80. This represents a 3.58% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CAO Scott A. Phillips bought 1,350 shares of First Busey stock in a transaction dated Friday, October 31st. The shares were acquired at an average price 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 in the company, valued at $60,254. This trade represents a 135.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Company insiders own 3.85% of the company’s stock.

Analyst Ratings Changes

BUSE has been the topic of several recent research reports. Piper Sandler dropped their price target 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. Weiss Ratings reissued a “hold (c+)” rating on shares of First Busey in a research report on Monday. Finally, Raymond James Financial reaffirmed an “outperform” rating and set a $26.00 price target (down previously from $28.00) on shares of First Busey in a research report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $26.33.

First Busey Stock Down 0.9%

BUSE stock opened at $23.55 on Friday. The company has a market cap of $2.08 billion, a price-to-earnings ratio of 20.47 and a beta of 0.82. First Busey Corporation has a twelve month low of $18.40 and a twelve month high of $27.29. The business has a 50 day moving average price of $23.16 and a two-hundred day moving average price of $23.27. 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 (NASDAQ:BUSE) last released its 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 business had revenue of $63.34 million during the quarter. Analysts anticipate that First Busey Corporation will post 2.61 EPS for the current fiscal year.

First Busey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, October 31st. Stockholders of record on Friday, October 24th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date of this dividend was Friday, October 24th. First Busey’s dividend payout ratio is presently 86.96%.

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.