Hsbc Holdings PLC Invests $628,000 in First Busey Corporation $BUSE

Hsbc Holdings PLC acquired a new stake in First Busey Corporation (NASDAQ:BUSE) during the first quarter, according to its most recent disclosure with the SEC. The institutional investor acquired 24,900 shares of the bank’s stock, valued at approximately $628,000.

Several other large investors also recently modified their holdings of BUSE. Parkside Financial Bank & Trust acquired a new position in First Busey in the fourth quarter valued at $28,000. Litman Gregory Wealth Management LLC acquired a new stake in First Busey during the 4th quarter worth about $30,000. Allworth Financial LP grew its holdings in First Busey by 127.8% during the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock worth $38,000 after acquiring an additional 888 shares during the period. Torren Management LLC bought a new position in shares of First Busey in the 4th quarter worth about $40,000. Finally, Geneos Wealth Management Inc. raised its position in shares of First Busey by 726.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after acquiring an additional 2,004 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

BUSE has been the topic of several research analyst reports. Zacks Research upgraded First Busey from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Raymond James Financial lifted their target price on First Busey from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. DA Davidson increased their price target on First Busey from $30.00 to $31.00 and gave the stock a “neutral” rating in a report on Thursday. Finally, Stephens raised their price objective on shares of First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a research report on Thursday, April 30th. One analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, First Busey presently has an average rating of “Moderate Buy” and a consensus target price of $31.50.

Insider Transactions at First Busey

In other First Busey news, CAO Scott A. Phillips purchased 5,000 shares of First Busey stock in a transaction that occurred on Monday, May 4th. The stock was acquired at an average price of $25.90 per share, with a total value of $129,500.00. Following the transaction, the chief accounting officer owned 8,350 shares in the company, valued at $216,265. This trade represents a 149.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.77% of the company’s stock.

First Busey Stock Performance

Shares of First Busey stock opened at $31.28 on Friday. The business has a 50-day simple moving average of $28.83 and a 200 day simple moving average of $26.81. First Busey Corporation has a one year low of $21.63 and a one year high of $31.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market capitalization of $2.65 billion, a price-to-earnings ratio of 12.93 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $0.69 EPS for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The firm had revenue of $194.27 million during the quarter, compared to analysts’ expectations of $197.59 million. First Busey had a return on equity of 10.42% and a net margin of 21.00%. On average, research analysts anticipate that First Busey Corporation will post 2.6 earnings per share for the current fiscal year.

First Busey Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, July 31st. Investors of record on Friday, July 24th will be issued a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date is Friday, July 24th. First Busey’s dividend payout ratio (DPR) is currently 46.22%.

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.