First Busey Co. (NASDAQ:BUSE) Shares Acquired by Siena Capital Partners GP LLC

Siena Capital Partners GP LLC grew its position in First Busey Co. (NASDAQ:BUSE) by 34.8% during the second quarter, Holdings Channel reports. The firm owned 206,551 shares of the bank’s stock after acquiring an additional 53,337 shares during the period. First Busey makes up approximately 1.5% of Siena Capital Partners GP LLC’s portfolio, making the stock its 12th largest position. Siena Capital Partners GP LLC’s holdings in First Busey were worth $4,152,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Brandywine Global Investment Management LLC grew its holdings in First Busey by 29.5% during the first quarter. Brandywine Global Investment Management LLC now owns 135,443 shares of the bank’s stock worth $2,755,000 after acquiring an additional 30,858 shares during the period. Martingale Asset Management L P boosted its position in First Busey by 41.5% during the first quarter. Martingale Asset Management L P now owns 47,030 shares of the bank’s stock worth $957,000 after purchasing an additional 13,785 shares in the last quarter. Vestor Capital LLC boosted its position in First Busey by 42.8% during the second quarter. Vestor Capital LLC now owns 3,392 shares of the bank’s stock worth $769,000 after purchasing an additional 1,017 shares in the last quarter. Private Advisor Group LLC purchased a new position in First Busey during the first quarter worth approximately $1,153,000. Finally, State of New Jersey Common Pension Fund D boosted its position in First Busey by 41.3% during the second quarter. State of New Jersey Common Pension Fund D now owns 128,119 shares of the bank’s stock worth $2,575,000 after purchasing an additional 37,436 shares in the last quarter. 53.22% of the stock is owned by institutional investors and hedge funds.

First Busey Price Performance

Shares of NASDAQ BUSE traded down $0.26 during midday trading on Monday, hitting $21.35. The stock had a trading volume of 17,082 shares, compared to its average volume of 170,260. The company has a market capitalization of $1.18 billion, a PE ratio of 9.31 and a beta of 0.86. The stock has a 50 day simple moving average of $19.68 and a 200-day simple moving average of $20.04. First Busey Co. has a 1 year low of $16.26 and a 1 year high of $26.70. The company has a quick ratio of 0.77, a current ratio of 0.77 and a debt-to-equity ratio of 0.27.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, October 24th. The bank reported $0.55 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.04. The business had revenue of $108.80 million for the quarter, compared to the consensus estimate of $108.09 million. First Busey had a return on equity of 11.26% and a net margin of 22.76%. On average, sell-side analysts expect that First Busey Co. will post 2.23 EPS for the current fiscal year.

First Busey Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 20th were issued a $0.24 dividend. The ex-dividend date was Thursday, October 19th. This represents a $0.96 annualized dividend and a dividend yield of 4.50%. First Busey’s dividend payout ratio is presently 41.38%.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on BUSE. Raymond James increased their price target on First Busey from $22.00 to $24.00 and gave the stock an “outperform” rating in a research report on Monday, July 31st. StockNews.com upgraded First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, October 26th. Finally, Piper Sandler lowered their price target on First Busey from $22.00 to $21.00 and set an “overweight” rating on the stock in a research report on Thursday, October 26th. Two research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $23.33.

Insider Activity at First Busey

In related news, Director Stanley J. Bradshaw purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was purchased at an average price of $19.89 per share, with a total value of $49,725.00. Following the completion of the acquisition, the director now owns 75,000 shares in the company, valued at $1,491,750. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, Director Michael David Cassens sold 1,240 shares of the stock in a transaction that occurred on Wednesday, November 15th. The stock was sold at an average price of $22.00, for a total value of $27,280.00. Following the completion of the sale, the director now owns 155,993 shares of the company’s stock, valued at $3,431,846. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Stanley J. Bradshaw purchased 2,500 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was bought at an average cost of $19.89 per share, with a total value of $49,725.00. Following the acquisition, the director now owns 75,000 shares of the company’s stock, valued at approximately $1,491,750. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 2,872 shares of company stock valued at $57,771. 7.10% of the stock is currently owned by insiders.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, FirsTech, and Wealth Management.