Monica L. Bowe, EVP Chief Risk Officer at First Busey (NASDAQ:BUSE) Corporation (NASDAQ:BUSE), has recently acquired shares of the company's common stock through multiple transactions, according to the latest SEC filings. Bowe's purchases, which took place over a series of dates, reflect a continued investment in the company by a key executive.
On May 1, 2024, Bowe acquired a total of 36.0104 shares of First Busey Corp common stock at a price of $22.8509 per share, amounting to an investment of over $823. The shares were obtained through dividend reinvestment programs, which include the First Busey Corporation Employee Stock Purchase Plan and reinvestment of dividends on vested stock awards.
Later, on June 28, Bowe purchased an additional 45.002 shares, this time at a lower price of $19.958 per share, totaling approximately $898. These shares were also procured through the Employee Stock Purchase Plan, demonstrating a consistent pattern of participation in company stock acquisition programs.
The total value of the shares purchased by Bowe through these "P" transactions was over $1,721, with the prices ranging between $19.958 and $22.8509 per share. These transactions indicate a vested interest in the company's performance and growth, as reflected by the executive's increasing ownership stake.
It is worth noting that these purchases do not include any "A" transactions, which are typically awarded shares and do not represent an open market purchase.
Investors often view such insider transactions as a sign of confidence in the company's prospects by its executives. As the EVP Chief Risk Officer, Bowe's acquisitions could be perceived as a positive signal about First Busey Corp's financial health and future outlook.
First Busey Corporation, headquartered in Urbana, Illinois, operates as a state commercial bank and offers a range of financial services. These recent transactions are part of the ongoing financial activities within the company as reported to the SEC.
In other recent news, First Busey Corporation declared a quarterly cash dividend of $0.24 per share on its common stock. This routine corporate action, announced by the company's Board of Directors, signifies the company's commitment to delivering shareholder value. The dividend is slated for payment on July 26, 2024, to shareholders of record as of July 19, 2024. In parallel developments, DA Davidson has revised its price target for First Busey Corporation. The firm lowered the price target to $24 from $25 while maintaining a neutral rating on the stock. This adjustment is attributed to recalibrated earnings per share estimates for the years 2024 and 2025. Despite the revised financial projections, DA Davidson's neutral stance on First Busey remains, suggesting that the analysts see neither significant upside nor downside potential for the stock at its current level. These are some of the recent developments that provide investors with an updated perspective on the company's financial strategies and shareholder relations policies.
InvestingPro Insights
First Busey Corporation (NASDAQ:BUSE), with its recent insider transactions, has also been a subject of analysis in the InvestingPro community. According to InvestingPro Tips, two analysts have revised their earnings upwards for the upcoming period, reflecting a potential positive outlook on the company's financial performance. Additionally, First Busey Corporation has maintained dividend payments for 36 consecutive years, which could be an indicator of financial stability and a commitment to shareholder returns.
The InvestingPro Data further enriches our understanding of the company's market standing. With a market capitalization of $1.56 billion and a P/E ratio of 14, First Busey Corporation appears to be valued reasonably in comparison to its earnings. The company has experienced a strong return over the last three months, with a 27.05% price total return, suggesting a positive trend in investor sentiment. Moreover, the dividend yield as of July 2024 stands at 3.38%, which could be attractive to income-focused investors.
These insights, paired with Monica L. Bowe's recent stock purchases, may offer investors additional context when evaluating First Busey Corporation's investment potential. For a more comprehensive analysis and access to further InvestingPro Tips, interested readers can visit https://www.investing.com/pro/BUSE. There are additional tips available on InvestingPro, and users can utilize the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.