Osborne Partners Capital Management LLC Reduces Stake in First Busey Corporation $BUSE

Osborne Partners Capital Management LLC cut its stake in First Busey Corporation (NASDAQ:BUSE) by 41.8% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 210,214 shares of the bank’s stock after selling 150,924 shares during the quarter. Osborne Partners Capital Management LLC owned about 0.25% of First Busey worth $5,312,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Parkside Financial Bank & Trust purchased a new stake in shares of First Busey in the fourth quarter valued at about $28,000. Litman Gregory Wealth Management LLC purchased a new position in First Busey during the fourth quarter worth about $30,000. Allworth Financial LP boosted its holdings in First Busey by 127.8% in the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after purchasing an additional 888 shares during the last quarter. Torren Management LLC acquired a new position in First Busey in the 4th quarter valued at about $40,000. Finally, Geneos Wealth Management Inc. grew its stake in shares of First Busey by 726.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after buying an additional 2,004 shares during the period. Hedge funds and other institutional investors own 56.49% of the company’s stock.

Insider Activity at First Busey

In other First Busey news, CAO Scott A. Phillips purchased 5,000 shares of the company’s stock in a transaction on Monday, May 4th. The stock was acquired at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the completion of the purchase, the chief accounting officer directly owned 8,350 shares in the company, valued at approximately $216,265. The trade was a 149.25% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on BUSE. Stephens lifted their price target on shares of First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Raymond James Financial raised their target price on First Busey from $28.00 to $32.00 and gave the stock an “outperform” rating in a research note on Wednesday. Piper Sandler lifted their target price on First Busey from $30.00 to $32.00 and gave the company an “overweight” rating in a research report on Friday, June 26th. Finally, Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to MarketBeat.com, First Busey has a consensus rating of “Moderate Buy” and an average price target of $29.60.

First Busey Price Performance

Shares of BUSE opened at $29.65 on Friday. The company’s 50-day simple moving average is $27.55 and its 200-day simple moving average is $26.10. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90. First Busey Corporation has a 1 year low of $21.63 and a 1 year high of $30.52. The stock has a market capitalization of $2.51 billion, a PE ratio of 13.18 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. First Busey had a net margin of 19.16% and a return on equity of 10.19%. The firm had revenue of $197.17 million during the quarter, compared to analysts’ expectations of $197.15 million. Analysts forecast that First Busey Corporation will post 2.58 earnings per share for the current fiscal year.

First Busey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 24th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a yield of 3.5%. The ex-dividend date of this dividend was Friday, April 24th. First Busey’s dividend payout ratio (DPR) is currently 46.22%.

First Busey Company 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.