First Busey Corporation (NASDAQ:BUSE) Short Interest Update

First Busey Corporation (NASDAQ:BUSE) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 2,074,813 shares, a growth of 28.8% from the January 29th total of 1,610,775 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily volume of 755,772 shares, the days-to-cover ratio is currently 2.7 days. Based on an average daily volume of 755,772 shares, the days-to-cover ratio is currently 2.7 days. Approximately 2.4% of the company’s shares are short sold.

First Busey Stock Performance

Shares of BUSE stock opened at $25.68 on Tuesday. First Busey has a 12 month low of $18.40 and a 12 month high of $27.65. The company’s fifty day simple moving average is $25.16 and its 200-day simple moving average is $24.24. The firm has a market cap of $2.27 billion, a PE ratio of 19.91 and a beta of 0.78. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.12.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.61 by $0.07. First Busey had a net margin of 12.96% and a return on equity of 9.46%. The firm had revenue of $201.78 million for the quarter, compared to analyst estimates of $197.70 million. Equities research analysts expect that First Busey will post 2.61 EPS for the current fiscal year.

First Busey Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 23rd were given a dividend of $0.26 per share. This represents a $1.04 annualized dividend and a yield of 4.0%. This is a boost from First Busey’s previous quarterly dividend of $0.25. The ex-dividend date of this dividend was Friday, January 23rd. First Busey’s payout ratio is currently 80.62%.

Insider Activity at First Busey

In other First Busey news, President Mike Maddox purchased 1,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 3rd. The stock was acquired at an average cost of $25.52 per share, with a total value of $25,520.00. Following the completion of the purchase, the president directly owned 40,280 shares in the company, valued at approximately $1,027,945.60. This represents a 2.55% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders have sold 2,250 shares of company stock worth $57,165. 3.85% of the stock is owned by insiders.

Institutional Investors Weigh In On First Busey

A number of institutional investors and hedge funds have recently made changes to their positions in BUSE. Parkside Financial Bank & Trust bought a new position in shares of First Busey in the fourth quarter valued at $28,000. Litman Gregory Wealth Management LLC bought a new stake in shares of First Busey in the 4th quarter valued at about $30,000. Allworth Financial LP lifted its position in shares of First Busey by 127.8% in the fourth quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after buying an additional 888 shares during the last quarter. Torren Management LLC acquired a new position in shares of First Busey during the 4th quarter worth approximately $40,000. Finally, Geneos Wealth Management Inc. raised its stake in 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 acquiring an additional 2,004 shares during the period. Institutional investors own 56.49% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on BUSE shares. Piper Sandler increased their price target on First Busey from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, January 30th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of First Busey in a research note on Monday, December 29th. Finally, DA Davidson reiterated a “neutral” rating and set a $27.00 price objective on shares of First Busey in a report on Thursday, January 29th. Three equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, First Busey presently has an average rating of “Hold” and a consensus price target of $27.00.

About First Busey

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.