Bridgeway Capital Management LLC Buys 32,308 Shares of First Busey Corporation $BUSE

Bridgeway Capital Management LLC grew its stake in First Busey Corporation (NASDAQ:BUSE) by 5.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 632,898 shares of the bank’s stock after purchasing an additional 32,308 shares during the quarter. Bridgeway Capital Management LLC owned approximately 0.72% of First Busey worth $15,057,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BUSE. Parkside Financial Bank & Trust bought a new position in shares of First Busey in the fourth quarter valued at approximately $28,000. Litman Gregory Wealth Management LLC bought a new position in shares of First Busey in the fourth quarter valued at approximately $30,000. Allworth Financial LP lifted its holdings 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 purchasing an additional 888 shares in the last quarter. Torren Management LLC bought a new position in shares of First Busey in the fourth quarter valued at approximately $40,000. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of First Busey by 726.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after purchasing an additional 2,004 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.

First Busey Stock Performance

Shares of First Busey stock opened at $27.99 on Thursday. The business’s fifty day simple moving average is $26.91 and its 200 day simple moving average is $25.69. The firm has a market capitalization of $2.37 billion, a P/E ratio of 12.44 and a beta of 0.72. First Busey Corporation has a 12 month low of $21.63 and a 12 month high of $29.10. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, April 28th. The bank reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The business had revenue of $197.17 million for the quarter, compared to analyst estimates of $197.15 million. First Busey had a return on equity of 10.19% and a net margin of 19.16%. As a group, analysts anticipate that First Busey Corporation will post 2.57 EPS for the current year.

First Busey Dividend Announcement

The company also recently announced 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 dividend on an annualized basis and a yield of 3.7%. The ex-dividend date of this dividend was Friday, April 24th. First Busey’s dividend payout ratio (DPR) is currently 46.22%.

Insider Transactions at First Busey

In other news, CAO Scott A. Phillips bought 5,000 shares of the firm’s stock in a transaction on Monday, May 4th. The stock was acquired at an average cost of $25.90 per share, with a total value of $129,500.00. Following the completion of the transaction, the chief accounting officer directly owned 8,350 shares of the company’s stock, valued at $216,265. This represents a 149.25% increase in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 3.77% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

BUSE has been the topic of a number of recent research reports. Piper Sandler raised their target price on First Busey from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 30th. Weiss Ratings upgraded First Busey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, May 11th. Finally, Stephens lifted their price target on First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Four analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat.com, First Busey has a consensus rating of “Moderate Buy” and an average target price of $27.50.

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.