First Busey (NASDAQ:BUSE) Share Price Crosses Above 200 Day Moving Average – What’s Next?

Shares of First Busey Corporation (NASDAQ:BUSE) passed above its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $27.58 and traded as high as $30.37. First Busey shares last traded at $29.99, with a volume of 498,314 shares trading hands.

Wall Street Analysts Forecast Growth

BUSE has been the topic of several analyst reports. DA Davidson boosted their price target on shares of First Busey from $30.00 to $31.00 and gave the stock a “neutral” rating in a research report on Thursday, July 30th. Raymond James Financial lifted their target price on First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “buy (b)” rating on shares of First Busey in a report on Friday, August 7th. Wall Street Zen upgraded First Busey from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. Finally, Stephens increased their price target on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th. Four equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the stock. According to MarketBeat, First Busey has an average rating of “Moderate Buy” and a consensus price target of $32.00.

First Busey Trading Up 0.2%

The company has a debt-to-equity ratio of 0.11, a current ratio of 0.90 and a quick ratio of 0.90. The business has a 50-day simple moving average of $30.02 and a two-hundred day simple moving average of $27.61. The stock has a market cap of $2.49 billion, a price-to-earnings ratio of 12.48 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, July 28th. The bank reported $0.69 EPS for the quarter, topping the consensus estimate of $0.63 by $0.06. First Busey had a return on equity of 10.48% and a net margin of 21.00%.The company had revenue of $194.27 million during the quarter, compared to the consensus estimate of $197.59 million. Equities analysts forecast that First Busey Corporation will post 2.67 EPS for the current fiscal year.

First Busey Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 24th were issued a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.4%. The ex-dividend date was Friday, July 24th. First Busey’s payout ratio is currently 42.98%.

Insider Buying and Selling at First Busey

In other news, Director Michael David Cassens sold 1,441 shares of the stock in a transaction dated Monday, August 17th. The shares were sold at an average price of $31.08, for a total value of $44,786.28. Following the transaction, the director directly owned 131,453 shares of the company’s stock, valued at $4,085,559.24. This represents a 1.08% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 3.77% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Wellington Management Group LLP increased its stake in shares of First Busey by 8.6% during the fourth quarter. Wellington Management Group LLP now owns 7,746,996 shares of the bank’s stock worth $184,301,000 after purchasing an additional 611,090 shares during the period. Dimensional Fund Advisors LP grew its holdings in First Busey by 4.0% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,067,210 shares of the bank’s stock valued at $128,046,000 after buying an additional 194,343 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in First Busey by 36,664.6% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock valued at $74,510,000 after buying an additional 3,123,454 shares in the last quarter. California State Teachers Retirement System increased its position in First Busey by 2,758.0% during the 2nd quarter. California State Teachers Retirement System now owns 2,715,239 shares of the bank’s stock worth $80,100,000 after buying an additional 2,620,234 shares during the period. Finally, LSV Asset Management increased its position in First Busey by 8.0% during the 4th quarter. LSV Asset Management now owns 1,384,661 shares of the bank’s stock worth $32,941,000 after buying an additional 102,904 shares during the period. Institutional investors and hedge funds own 56.49% of the company’s stock.

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.