Short Interest in First Busey Co. (NASDAQ:BUSE) Expands By 11.7%

First Busey Co. (NASDAQ:BUSE) was the recipient of a large increase in short interest in the month of June. As of June 15th, there was short interest totalling 1,340,000 shares, an increase of 11.7% from the May 31st total of 1,200,000 shares. Based on an average daily volume of 171,000 shares, the short-interest ratio is presently 7.8 days. Approximately 2.5% of the company’s shares are sold short.

Analysts Set New Price Targets

BUSE has been the subject of a number of analyst reports. StockNews.com lowered First Busey from a “hold” rating to a “sell” rating in a research report on Friday, June 28th. Stephens reaffirmed an “overweight” rating and issued a $28.00 price target on shares of First Busey in a research report on Wednesday, April 24th. One equities research analyst has rated the stock with a sell rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $25.75.

First Busey Stock Performance

Shares of NASDAQ:BUSE traded down $0.46 during midday trading on Wednesday, reaching $23.71. 61,329 shares of the company’s stock traded hands, compared to its average volume of 169,935. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.80 and a current ratio of 0.80. First Busey has a one year low of $17.51 and a one year high of $25.80. The company has a market cap of $1.35 billion, a price-to-earnings ratio of 11.97 and a beta of 0.86. The stock has a 50 day moving average of $22.98 and a 200 day moving average of $23.34.

First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, April 23rd. The bank reported $0.47 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.49 by ($0.02). First Busey had a net margin of 18.08% and a return on equity of 9.37%. The company had revenue of $110.77 million for the quarter, compared to the consensus estimate of $109.06 million. As a group, equities research analysts anticipate that First Busey will post 2.13 EPS for the current fiscal year.

First Busey Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 19th were paid a dividend of $0.24 per share. The ex-dividend date was Thursday, April 18th. This represents a $0.96 dividend on an annualized basis and a yield of 4.05%. First Busey’s dividend payout ratio is presently 48.48%.

Insider Transactions at First Busey

In other First Busey news, Director Michael David Cassens sold 2,300 shares of the company’s stock in a transaction that occurred on Wednesday, May 15th. The stock was sold at an average price of $23.81, for a total transaction of $54,763.00. Following the transaction, the director now owns 137,695 shares in the company, valued at approximately $3,278,517.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.10% of the company’s stock.

Hedge Funds Weigh In On First Busey

A number of institutional investors and hedge funds have recently modified their holdings of the company. Lindbrook Capital LLC lifted its position in shares of First Busey by 1,143.5% during 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 in the last quarter. Acadian Asset Management LLC purchased a new stake in shares of First Busey in the first quarter worth $115,000. SG Americas Securities LLC purchased a new stake in shares of First Busey in the first quarter worth $142,000. EMC Capital Management raised its position in shares of First Busey by 27.3% during the 1st quarter. EMC Capital Management now owns 8,606 shares of the bank’s stock valued at $207,000 after purchasing an additional 1,848 shares during the period. Finally, Sierra Summit Advisors LLC bought a new position in First Busey in the 4th quarter worth $238,000. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

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.