China smartphone shipments slumped in June on inventory overhang: Jefferies
Karen M. Jensen, a director at First Busey Corp (NASDAQ:BUSE), recently acquired 5,500 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The $1.98 billion market cap financial institution, which currently offers a notable 4.49% dividend yield, has maintained dividend payments for 37 consecutive years according to InvestingPro. The purchase occurred on May 23, 2025, at a price range between $21.69 and $21.70 per share, totaling approximately $119,325. Following this transaction, Jensen holds 72,068 shares directly. This acquisition reflects continued confidence in the company’s prospects by one of its board members, though InvestingPro analysis suggests the stock is currently trading above its Fair Value. Discover more insights and 5 additional ProTips with an InvestingPro subscription.
In other recent news, First Busey Corporation announced the pricing of its public offering of 8 million depositary shares, each representing a 1/40th interest in a share of its Series B preferred stock. This offering, with a liquidation preference of $25 each and an 8.25% annual dividend, aims to raise funds for general corporate purposes and the redemption of Busey’s 5.25% Subordinated Notes due 2030. The bank is also preparing for a merger with CrossFirst Bank on June 20, 2025, which will expand its asset base and banking centers.
Additionally, First Busey declared a quarterly cash dividend of $0.25 per common share, scheduled for payment on April 25, 2025, to shareholders of record as of April 18, 2025. Piper Sandler reiterated its Overweight rating on First Busey, maintaining a price target of $26.00, despite adjusting its earnings per share estimates for 2025 and 2026. The firm highlighted the attractive valuation following the $215 million preferred offering, which is expected to enhance First Busey’s Tier 1 capital.
These developments reflect First Busey’s strategic financial maneuvers, including the recent offering and merger plans. The company continues to focus on rewarding its shareholders through consistent dividend payments.
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