First Busey Co. Short Interest Update

First Busey Co. (NASDAQ:BUSE - Get Free Report) experienced a significant rise in short interest during December. By December 15th, the total short interest reached 1,730,000 shares, marking an 8.8% increase from the 1,590,000 shares reported on November 30th. With an average trading volume of 269,500 shares, this leads to a current short-interest ratio of 6.4 days.

First Busey Stock Performance

On Tuesday, shares of First Busey remained stable at $23.57, with 178,100 shares traded, less than the average volume of 227,525. The stock has seen a low of $21.68 and a high of $28.97 over the past year. Its 50-day simple moving average stands at $25.77 while the 200-day average is $25.62. Financial metrics show a current ratio of 0.82, a quick ratio of 0.82, and a debt-to-equity ratio of 0.22. The company boasts a market cap of $1.34 billion, a price-to-earnings (PE) ratio of 12.15, and a beta of 0.86.

First Busey Earnings Results

The latest quarterly earnings report was released on October 22nd, where First Busey announced an earnings per share (EPS) of $0.58. This surpassed analyst expectations, which averaged $0.54, by $0.04. The return on equity was noted at 8.94%, with a net margin of 16.94%. Revenue for the quarter reached $170.45 million, significantly higher than the consensus estimate of $118.32 million. In the same period last year, the bank reported an EPS of $0.55. Analysts anticipate an EPS of 2.07 for the current fiscal year.

First Busey Dividend Announcement

Recently, First Busey declared a quarterly dividend, which was paid out on October 25th. Shareholders who held stock as of October 18th received a dividend of $0.24 per share, translating to an annualized dividend yield of 4.07% and a total of $0.96. The ex-dividend date for this payment was also October 18th. The company's payout ratio is currently 49.48%.

Analyst Ratings Changes

Multiple research institutions have updated their ratings for First Busey. StockNews.com shifted its rating from "sell" to "hold" on September 12th. Stephens lowered their rating from "overweight" to "equal weight" and revised their target price from $28.00 to $27.00 on October 14th. On December 4th, Keefe, Bruyette & Woods increased their target price from $32.00 to $34.00 and assigned an "outperform" rating to the stock.

Hedge Funds and Institutional Investments

Recently, hedge funds and other institutional investors have made adjustments to their holdings in First Busey. Huntington National Bank acquired a new stake in the banking firm during the third quarter, worth about $38,000. CarsonAllaria Wealth Management Ltd. also bought a new position valued at approximately $43,000. Signaturefd LLC significantly increased its investment in First Busey by 257.4% in the second quarter, ending up with 1,998 shares valued at $48,000 after acquiring an additional 1,439 shares. Other notable investments include Point72 DIFC Ltd., which invested approximately $171,000, and Intech Investment Management LLC, which purchased a position valued at $224,000. Approximately 56.49% of the stock is held by hedge funds and institutional investors.

About First Busey

First Busey Corporation is the holding entity for Busey Bank, which provides a range of retail and commercial banking products and services to a variety of customers, including individuals, corporations, institutions, and government entities in the United States. It operates through three main segments: Banking, Wealth Management, and FirsTech.

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