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Stanley J. Bradshaw, a director at First Busey Corp (NASDAQ:BUSE), recently purchased 1,000 shares of the company’s common stock. The transaction occurred on June 2, 2025, at a price of $21.75 per share, amounting to a total investment of $21,750. The $2 billion market cap company currently trades at a P/E ratio of 23.15 and offers a 4.41% dividend yield, having maintained dividend payments for 37 consecutive years. Following this acquisition, Bradshaw holds a total of 491,769 shares directly. This move reflects a continued investment in the company by its board members. According to InvestingPro analysis, the stock currently trades above its Fair Value, with additional insights available about insider trading patterns and company fundamentals.
In other recent news, First Busey Corporation has been active with several financial maneuvers and announcements. The company recently declared a quarterly cash dividend of $0.25 per common share, scheduled for payment on April 25, 2025, to shareholders on record as of April 18, 2025. This follows First Busey’s consistent approach to rewarding shareholders. Additionally, First Busey priced an offering of 8 million depositary shares, each representing a 1/40th interest in a share of its Series B preferred stock, with an 8.25% annual dividend. The proceeds from this offering are intended for general corporate purposes and to redeem $125 million of 5.25% subordinated debt.
Keefe, Bruyette & Woods maintained an Outperform rating on First Busey, with a price target of $30, following the bank’s strategic moves, including a share repurchase program amendment and the redemption of subordinated notes. Piper Sandler also reiterated its Overweight rating, with a price target of $26, highlighting the attractive valuation post the $215 million preferred offering. The offering is expected to enhance First Busey’s Tier 1 capital and slightly adjust its earnings per share estimates for 2025 and 2026. Furthermore, First Busey is preparing for a merger with CrossFirst Bank, expected to close on June 20, 2025, which will expand its asset base and banking centers.
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