Creative Planning Boosts Holdings in First Busey Co. (NASDAQ:BUSE)

Posted by Defense World Staff on Jun 6th, 2023

Creative Planning lifted its position in First Busey Co. (NASDAQ:BUSE – Get Rating) by 61.7% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 44,471 shares of the bank’s stock after acquiring an additional 16,968 shares during the quarter. Creative Planning owned 0.08% of First Busey worth $1,099,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Bank of New York Mellon Corp lifted its stake in First Busey by 0.6% in the first quarter. Bank of New York Mellon Corp now owns 328,890 shares of the bank’s stock worth $8,335,000 after purchasing an additional 2,067 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of First Busey by 4.4% in the first quarter. Bank of Montreal Can now owns 13,021 shares of the bank’s stock worth $335,000 after purchasing an additional 550 shares during the last quarter. Acadian Asset Management LLC purchased a new position in First Busey in the 1st quarter worth about $176,000. MetLife Investment Management LLC lifted its holdings in First Busey by 49.7% during the 1st quarter. MetLife Investment Management LLC now owns 27,656 shares of the bank’s stock valued at $701,000 after buying an additional 9,178 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its position in First Busey by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,684,215 shares of the bank’s stock valued at $68,019,000 after buying an additional 104,955 shares during the period. 49.97% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at First Busey

In other First Busey news, Director Stanley J. Bradshaw acquired 5,322 shares of the business’s stock in a transaction that occurred on Monday, May 1st. The shares were bought at an average cost of $18.16 per share, with a total value of $96,647.52. Following the completion of the acquisition, the director now directly owns 46,172 shares in the company, valued at approximately $838,483.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Stanley J. Bradshaw bought 5,000 shares of the stock in a transaction on Thursday, March 16th. The stock was bought at an average cost of $21.59 per share, for a total transaction of $107,950.00. Following the completion of the purchase, the director now directly owns 37,850 shares in the company, valued at $817,181.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stanley J. Bradshaw bought 5,322 shares of the stock in a transaction on Monday, May 1st. The stock was purchased at an average price of $18.16 per share, with a total value of $96,647.52. Following the completion of the purchase, the director now owns 46,172 shares of the company’s stock, valued at $838,483.52. The disclosure for this purchase can be found here. Insiders have acquired a total of 15,322 shares of company stock valued at $297,118 over the last ninety days. 7.40% of the stock is owned by company insiders.

First Busey Stock Performance

Shares of BUSE stock opened at $19.65 on Tuesday. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 8.09 and a beta of 0.85. The company’s 50 day moving average is $18.81 and its 200 day moving average is $22.28. The company has a quick ratio of 0.75, a current ratio of 0.75 and a debt-to-equity ratio of 0.27. First Busey Co. has a 52-week low of $16.26 and a 52-week high of $27.98.

First Busey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 28th. Investors of record on Friday, April 21st were issued a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 4.89%. The ex-dividend date was Thursday, April 20th. First Busey’s payout ratio is 39.51%.

Analyst Ratings Changes

Several analysts have recently weighed in on BUSE shares. Piper Sandler decreased their price target on shares of First Busey from $24.00 to $21.00 in a research note on Thursday, April 27th. Raymond James lowered their target price on First Busey from $26.00 to $24.00 and set an “outperform” rating for the company in a report on Thursday, April 6th. StockNews.com upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Saturday. Finally, VNET Group reaffirmed a “maintains” rating on shares of First Busey in a research note on Thursday, April 27th.

First Busey Company Profile

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First Busey Corp. is a bank holding company, which engages in the provision of financial services through its wholly-owned bank subsidiary. It operates through the following segments: Banking, First Tech, and Wealth Management. The Banking segment offers a range of services to individual and corporate customers through its banking center network.