First Busey Corporation $BUSE is Bayview Asset Management LLC’s 9th Largest Position

Bayview Asset Management LLC boosted its stake in shares of First Busey Corporation (NASDAQ:BUSE) by 43.8% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 71,920 shares of the bank’s stock after acquiring an additional 21,920 shares during the period. First Busey accounts for 0.4% of Bayview Asset Management LLC’s portfolio, making the stock its 9th largest holding. Bayview Asset Management LLC owned approximately 0.08% of First Busey worth $1,711,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of BUSE. Royal Bank of Canada grew its stake in First Busey by 95.9% during the first quarter. Royal Bank of Canada now owns 18,143 shares of the bank’s stock valued at $392,000 after acquiring an additional 8,884 shares in the last quarter. AQR Capital Management LLC grew its stake in First Busey by 16.8% during the first quarter. AQR Capital Management LLC now owns 198,945 shares of the bank’s stock valued at $4,297,000 after acquiring an additional 28,605 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in First Busey by 64.1% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank’s stock valued at $1,074,000 after acquiring an additional 19,431 shares in the last quarter. Goldman Sachs Group Inc. grew its stake in First Busey by 9.0% during the first quarter. Goldman Sachs Group Inc. now owns 469,310 shares of the bank’s stock valued at $10,137,000 after acquiring an additional 38,773 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in First Busey by 78.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank’s stock valued at $4,796,000 after acquiring an additional 97,560 shares in the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

First Busey Price Performance

BUSE stock opened at $28.78 on Friday. First Busey Corporation has a 52 week low of $21.63 and a 52 week high of $28.90. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12. The company has a fifty day simple moving average of $26.76 and a two-hundred day simple moving average of $25.58. The firm has a market capitalization of $2.43 billion, a P/E ratio of 12.79 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, April 28th. The bank reported $0.67 EPS for the quarter, beating the consensus estimate of $0.57 by $0.10. First Busey had a net margin of 19.16% and a return on equity of 10.19%. The business had revenue of $197.17 million during the quarter, compared to analyst estimates of $197.15 million. Analysts anticipate that First Busey Corporation will post 2.57 earnings per share for the current fiscal year.

First Busey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 24th were given a dividend of $0.26 per share. The ex-dividend date was Friday, April 24th. This represents a $1.04 annualized dividend and a yield of 3.6%. First Busey’s dividend payout ratio (DPR) is 46.22%.

Analysts Set New Price Targets

Several equities analysts recently weighed in on BUSE shares. Piper Sandler raised their target price on shares of First Busey from $29.00 to $30.00 and gave the company an “overweight” rating in a research note on Thursday, April 30th. Stephens raised their target price on shares of First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Finally, Weiss Ratings raised shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Four equities research analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, First Busey currently has a consensus rating of “Moderate Buy” and a consensus target price of $27.50.

Insider Activity

In other news, CAO Scott A. Phillips bought 5,000 shares of the stock in a transaction dated Monday, May 4th. The stock was purchased at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the acquisition, the chief accounting officer owned 8,350 shares of the company’s stock, valued at $216,265. The trade was a 149.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 3.77% of the company’s stock.

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.