Rep. Jefferson Shreve Buys First Busey Co. (NASDAQ:BUSE) Shares

Representative Jefferson Shreve (R-Indiana) recently bought shares of First Busey Co. (NASDAQ:BUSE). In a filing disclosed on March 09th, the Representative disclosed that they had bought between $15,001 and $50,000 in First Busey stock on February 24th. The trade occurred in the Representative’s “CRT – STANDARD UNIT TRUST” account.

Representative Jefferson Shreve also recently made the following trade(s):

• Purchased $15,001 – $50,000 in shares of RTX (NYSE:RTX) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Royal Gold (NASDAQ:RGLD) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of QUALCOMM (NASDAQ:QCOM) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Pfizer (NYSE:PFE) on 2/24/2025.
• Sold $15,001 – $50,000 in shares of Norfolk Southern (NYSE:NSC) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of CoStar Group (NASDAQ:CSGP) on 2/24/2025.
• Purchased $50,001 – $100,000 in shares of AbbVie (NYSE:ABBV) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Johnson & Johnson (NYSE:JNJ) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of The Cigna Group (NYSE:CI) on 2/24/2025.
• Purchased $15,001 – $50,000 in shares of Adobe (NASDAQ:ADBE) on 2/24/2025.

First Busey Stock Performance

Shares of BUSE opened at $21.57 on Tuesday. The stock has a 50-day simple moving average of $23.65 and a 200-day simple moving average of $25.13. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82. The stock has a market capitalization of $1.23 billion, a PE ratio of 10.95 and a beta of 0.84. First Busey Co. has a 1 year low of $21.56 and a 1 year high of $28.97.

First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, January 28th. The bank reported $0.53 earnings per share for the quarter, topping the consensus estimate of $0.52 by $0.01. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, analysts predict that First Busey Co. will post 2.61 earnings per share for the current fiscal year.

First Busey Increases Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, January 31st. Shareholders of record on Friday, January 24th were given a $0.25 dividend. This is an increase from First Busey’s previous quarterly dividend of $0.24. This represents a $1.00 annualized dividend and a yield of 4.64%. The ex-dividend date was Friday, January 24th. First Busey’s payout ratio is currently 50.76%.

Analyst Upgrades and Downgrades

BUSE has been the subject of a number of research reports. Piper Sandler reduced their price objective on First Busey from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday, January 30th. Stephens reissued an “equal weight” rating and issued a $26.00 target price on shares of First Busey in a report on Monday, February 24th. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $33.00 price objective (down previously from $34.00) on shares of First Busey in a report on Thursday, January 30th. Finally, DA Davidson reaffirmed a “neutral” rating and set a $25.00 price objective on shares of First Busey in a report on Tuesday, February 25th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, First Busey presently has an average rating of “Hold” and a consensus target price of $28.00.

Insider Buying and Selling

In other news, Director Stanley J. Bradshaw purchased 1,838 shares of the company’s stock in a transaction on Wednesday, February 26th. The stock was bought at an average cost of $23.75 per share, for a total transaction of $43,652.50. Following the completion of the purchase, the director now directly owns 437,481 shares of the company’s stock, valued at $10,390,173.75. The trade was a 0.42 % increase in their position. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.10% of the stock is currently owned by company insiders.

Institutional Trading of First Busey

A number of institutional investors have recently bought and sold shares of the company. Stifel Financial Corp purchased a new stake in shares of First Busey in the third quarter valued at $757,000. JPMorgan Chase & Co. lifted its position in shares of First Busey by 9.0% in the third quarter. JPMorgan Chase & Co. now owns 482,287 shares of the bank’s stock valued at $12,549,000 after acquiring an additional 39,900 shares in the last quarter. FMR LLC lifted its position in First Busey by 168.7% during the third quarter. FMR LLC now owns 149,279 shares of the bank’s stock worth $3,884,000 after buying an additional 93,733 shares during the period. Geode Capital Management LLC lifted its position in First Busey by 1.7% during the third quarter. Geode Capital Management LLC now owns 1,295,804 shares of the bank’s stock worth $33,723,000 after buying an additional 22,096 shares during the period. Finally, Franklin Resources Inc. lifted its position in First Busey by 61.5% during the third quarter. Franklin Resources Inc. now owns 41,550 shares of the bank’s stock worth $1,035,000 after buying an additional 15,829 shares during the period. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

About Representative Shreve

Jefferson Shreve (Republican Party) is a member of the U.S. House, representing Indiana’s 6th Congressional District. He assumed office on January 3, 2025. His current term ends on January 3, 2027.

Shreve (Republican Party) is running for re-election to the U.S. House to represent Indiana’s 6th Congressional District. He declared candidacy for the 2026 election.

Email [email protected] to notify us of updates to this biography.
Jefferson Shreve earned a bachelor’s degree from Indiana University in 1989, a graduate degree from the University of London in 1998, and a graduate degree from Purdue University in 2003. Shreve’s career experience includes working as a real estate executive.

Shreve was elected 7th District Vice Chairman of the Indiana Republican State Committee on January 17, 2018, and was re-elected on March 6, 2021. In 2020, he was selected as a district-level delegate to the 2020 Republican National Convention.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.