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Karen M. Jensen, a director at First Busey Corp (NASDAQ:BUSE), recently acquired a substantial amount of the company’s common stock over two days. According to a recent SEC filing, Jensen purchased a total of 10,000 shares, with transaction prices ranging from $21.74 to $22.07 per share. The total value of these transactions amounted to $219,065. The purchase comes as the $1.26 billion market cap company trades near its 52-week low, with InvestingPro analysis suggesting the stock is currently undervalued.
The transactions occurred on March 13 and 14, 2025, and have increased Jensen’s direct ownership to 63,018 shares. This series of purchases highlights a significant investment in the company by one of its board members, reflecting confidence in First Busey’s future prospects. The company boasts a 37-year track record of consecutive dividend payments, currently yielding 4.53%, with analyst price targets ranging from $25 to $33. InvestingPro subscribers can access 6 additional key insights about First Busey’s financial health and growth prospects.
In other recent news, First Busey Corporation has reported several key developments. The company announced a 4.2% increase in its quarterly cash dividend, raising it to $0.25 per share, reflecting confidence in its financial stability. In earnings-related updates, Stephens analysts adjusted their price target for First Busey shares to $26.00 from $29.00, citing higher-than-expected fee income but subdued loan growth in the fourth quarter. DA Davidson also revised its price target to $25.00, maintaining a Neutral rating due to less favorable trends such as a decline in Net Interest Margin and a rise in non-performing assets.
Executive changes at First Busey include the departure of CFO Jeffrey D. Jones, with Scott A. Phillips stepping in as Interim CFO. The company is conducting a national search for a permanent replacement. Additionally, First Busey received approval from the Federal Reserve for its pending merger with CrossFirst, expected to conclude by March 1, 2025. Analysts at DA Davidson and Stephens have expressed cautious optimism about the merger’s potential benefits, though challenges in integrating differing credit cultures have been noted.
These developments come as First Busey navigates significant transitions in leadership and strategic initiatives. The company remains under close observation by investors as it manages these changes and continues its growth trajectory.
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