First Busey Co. (NASDAQ:BUSE) Sees Large Growth in Short Interest

First Busey Co. (NASDAQ:BUSE - Get Free Report) was the target of a large growth in short interest during the month of February. As of February 28th, there was short interest totalling 3,040,000 shares, a growth of 20.6% from the February 13th total of 2,520,000 shares. Based on an average daily volume of 369,800 shares, the short-interest ratio is presently 8.2 days. Approximately 5.8% of the shares of the company are short sold.

Insider Buying and Selling

In other news, Director Stanley J. Bradshaw purchased 1,700 shares of the stock in a transaction that occurred on Thursday, March 13th. The shares were purchased at an average cost of $21.70 per share, for a total transaction of $36,890.00. Following the completion of the purchase, the director now directly owns 482,143 shares of the company's stock, valued at approximately $10,462,503.10. The trade was a 0.35 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 7.10% of the stock is owned by insiders.

Institutional Trading of First Busey

Hedge funds have recently added to or reduced their stakes in the business. Universal Beteiligungs und Servicegesellschaft mbH bought a new position in First Busey during the 4th quarter worth about $3,689,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in First Busey by 39.7% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 124,488 shares of the bank's stock worth $2,934,000 after purchasing an additional 35,360 shares in the last quarter. Voloridge Investment Management LLC increased its holdings in First Busey by 596.4% during the 4th quarter. Voloridge Investment Management LLC now owns 133,264 shares of the bank's stock worth $3,141,000 after purchasing an additional 114,129 shares in the last quarter. Squarepoint Ops LLC bought a new position in First Busey during the 4th quarter worth about $721,000. Finally, Two Sigma Advisers LP increased its holdings in First Busey by 65.4% during the 4th quarter. Two Sigma Advisers LP now owns 114,808 shares of the bank's stock worth $2,706,000 after purchasing an additional 45,400 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company's stock.

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First Busey Trading Up 0.2 %

NASDAQ:BUSE traded up $0.04 during trading hours on Friday, hitting $22.05. 905,061 shares of the stock were exchanged, compared to its average volume of 277,203. The company's 50 day moving average is $23.43 and its two-hundred day moving average is $24.78. First Busey has a twelve month low of $21.21 and a twelve month high of $28.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The company has a market capitalization of $1.26 billion, a P/E ratio of 11.19 and a beta of 0.84.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings data on Tuesday, January 28th. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, sell-side analysts anticipate that First Busey will post 2.61 earnings per share for the current fiscal year.

First Busey Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend was Friday, January 24th. This is an increase from First Busey's previous quarterly dividend of $0.24. First Busey's dividend payout ratio (DPR) is presently 50.76%.

Analyst Ratings Changes

Several research firms have recently weighed in on BUSE. DA Davidson reiterated a "neutral" rating and issued a $25.00 price objective on shares of First Busey in a research note on Tuesday, February 25th. Piper Sandler lowered their price objective on First Busey from $32.00 to $28.00 and set an "overweight" rating on the stock in a research note on Thursday, January 30th. Keefe, Bruyette & Woods reiterated an "outperform" rating and issued a $33.00 price objective (down from $34.00) on shares of First Busey in a research note on Thursday, January 30th. Finally, Stephens restated an "equal weight" rating and set a $26.00 price target on shares of First Busey in a research report on Monday, February 24th. Three equities 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, First Busey presently has an average rating of "Hold" and a consensus price target of $28.00.

About First Busey

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.