First Busey (NASDAQ:BUSE) Shares Gap Down to $23.27

First Busey Co. (NASDAQ:BUSE) gapped down prior to trading on Wednesday . The stock had previously closed at $23.27, but opened at $21.94. First Busey shares last traded at $22.93, with a volume of 36,003 shares changing hands.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on BUSE shares. Stephens reiterated an “overweight” rating and set a $28.00 target price on shares of First Busey in a research report on Wednesday. StockNews.com lowered shares of First Busey from a “hold” rating to a “sell” rating in a report on Monday. One research analyst has rated the stock with a sell rating and four have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $25.75.

First Busey Price Performance

The firm has a market capitalization of $1.28 billion, a P/E ratio of 11.66 and a beta of 0.85. The company has a fifty day moving average of $23.06 and a 200 day moving average of $22.64. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.79 and a quick ratio of 0.79.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.49 by $0.03. First Busey had a net margin of 18.08% and a return on equity of 9.49%. The firm had revenue of $108.65 million for the quarter, compared to the consensus estimate of $107.74 million. Sell-side analysts predict that First Busey Co. will post 2.14 earnings per share for the current year.

First Busey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 19th will be issued a $0.24 dividend. The ex-dividend date is Thursday, April 18th. This represents a $0.96 annualized dividend and a yield of 4.16%. First Busey’s payout ratio is 48.48%.

Insiders Place Their Bets

In other First Busey news, Director Karen M. Jensen acquired 2,500 shares of the company’s stock in a transaction dated Monday, January 29th. The shares were bought at an average cost of $24.40 per share, with a total value of $61,000.00. Following the purchase, the director now directly owns 45,585 shares of the company’s stock, valued at $1,112,274. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, Director Karen M. Jensen acquired 2,500 shares of First Busey stock in a transaction dated Monday, January 29th. The stock was bought at an average price of $24.40 per share, with a total value of $61,000.00. Following the transaction, the director now directly owns 45,585 shares in the company, valued at approximately $1,112,274. The purchase was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Karen M. Jensen acquired 2,000 shares of the stock in a transaction dated Friday, March 1st. The stock was bought at an average price of $22.98 per share, with a total value of $45,960.00. Following the purchase, the director now directly owns 47,585 shares in the company, valued at $1,093,503.30. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 4,817 shares of company stock worth $114,780 and sold 6,900 shares worth $157,182. Company insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On First Busey

Institutional investors have recently made changes to their positions in the stock. Lindbrook Capital LLC grew its stake in shares of First Busey by 1,143.5% in the 4th quarter. Lindbrook Capital LLC now owns 1,057 shares of the bank’s stock valued at $26,000 after buying an additional 972 shares during the period. Everhart Financial Group Inc. acquired a new stake in First Busey in the third quarter valued at approximately $218,000. Sierra Summit Advisors LLC bought a new stake in shares of First Busey during the fourth quarter valued at approximately $238,000. HighPoint Advisor Group LLC acquired a new position in shares of First Busey during the fourth quarter worth approximately $249,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of First Busey by 40.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,819 shares of the bank’s stock worth $304,000 after purchasing an additional 4,566 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

First Busey Company Profile

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