China smartphone shipments slumped in June on inventory overhang: Jefferies
In a recent transaction, Steven W. Caple, a director at First Busey Corp (NASDAQ:BUSE), a $1.99 billion regional banking institution currently trading at a premium to its InvestingPro Fair Value, purchased 1,175 shares of the company’s common stock. The shares were acquired on May 23, 2025, at a price of $21.60 per share, amounting to a total transaction value of $25,380. Following this acquisition, Caple now holds 4,509 shares of First Busey Corp directly. The company, trading at a P/E ratio of 23.14 and offering a 4.49% dividend yield, has maintained dividend payments for 37 consecutive years. This transaction was documented in a Form 4 filing with the Securities and Exchange Commission. InvestingPro subscribers can access additional insights and metrics to evaluate insider trading patterns.
In other recent news, First Busey Corporation has announced its quarterly cash dividend of $0.25 per common share, payable on April 25, 2025, to shareholders on record as of April 18, 2025. This decision aligns with the company’s ongoing practice of distributing earnings to its shareholders. Additionally, First Busey has set the pricing for its public offering of 8 million depositary shares, each with a 1/40th interest in a share of Series B preferred stock, featuring an 8.25% annual dividend rate. The offering is expected to close around May 20, 2025, and aims to raise funds for general corporate purposes and redeem subordinated notes. Piper Sandler has maintained its Overweight rating on First Busey, with a price target of $26.00, following the company’s $215 million preferred offering. This offering is anticipated to enhance the bank’s Tier 1 capital, with projections indicating an increase in the Total (EPA:TTEF) Risk-Based Capital ratio to approximately 15.4%. The bank is also preparing for a merger with CrossFirst Bank on June 20, 2025, which will expand its asset base and banking centers.
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