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First Busey Corp /NV/ (EXCHANGE:BUSE), a $2.19 billion regional banking institution currently trading at $24.69, saw Director and President Mike Maddox report share purchases of Depositary Shares, 1/40 interest in Series B Preferred Stock, in a series of transactions on September 4th and 5th. The total value of shares acquired was $469,366, with prices ranging from $25.44 to $25.5162. According to InvestingPro analysis, the company has maintained dividend payments for 37 consecutive years.
Maddox acquired a total of 18,000 shares. 10,000 shares were purchased on September 4th, and 8,000 shares on September 5th. The shares are indirectly owned by Mr. Maddox’s spouse and stepson. The company currently offers an attractive 4.04% dividend yield, and InvestingPro data shows analysts remain optimistic about the company’s profitability outlook for this year.
Following these transactions, Maddox directly holds 210307.6211 shares of Common Stock, 50 shares of Series A Non-Cumulative Perpetual Preferred Stock, and indirectly holds 4739 shares of Common Stock, 100 shares of Series A Non-Cumulative Perpetual Preferred Stock, and 39280 shares of Depositary Shares, 1/40 interest in Series B Preferred Stock. Maddox also indirectly holds 460 shares of Depositary Shares, 1/40 interest in Series B Preferred Stock through his stepson.
Maddox also holds Stock Appreciation Rights for 110,531 shares of Common Stock.
In other recent news, First Busey Corporation reported second-quarter earnings that surpassed analyst expectations. The regional bank posted adjusted earnings of $0.63 per share, exceeding the consensus estimate of $0.60. Revenue for the quarter reached $198.05 million, which not only surpassed the projected $193.73 million but also marked a 69.9% increase compared to the same period last year. This growth was notably driven by the company’s recent acquisition of CrossFirst Bankshares. Additionally, Raymond James raised its price target for First Busey to $28.00 from $27.00, maintaining an Outperform rating on the stock. This adjustment followed investor meetings with the bank’s leadership team, including CEO Van Dukeman. These developments highlight a period of positive momentum for First Busey.
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