In a recent transaction reported on March 28th, Amy L. Randolph, the Chief of Staff at First Busey Corp (NASDAQ:BUSE), acquired shares through the company's Employee Stock Purchase Plan. Randolph purchased a total of 594.6078 shares of common stock at a price of $20.4425 per share, resulting in a transaction value of $12,155.
The purchase is part of the company's plan that allows employees to acquire shares, demonstrating a commitment to the company by its executive team. Following this acquisition, Randolph now directly holds a total of 4,725.6765 shares in the company.
Additionally, on April 26th, Randolph was awarded 849 dividend equivalent rights as part of the Restricted Stock Units' dividends, which are economically equivalent to one share of First Busey Corporation Stock each. These rights accrue in conjunction with the payment of cash dividends on the company's stock and are valued at $0 as per the transaction report, indicating that they were granted rather than purchased.
Investors often monitor insider buying and selling as it can provide insights into how executives perceive the company's future prospects. The recent acquisition by Randolph may be seen as a positive sign by investors, reflecting confidence in the financial institution's performance and growth potential.
First Busey Corp, headquartered in Urbana, Illinois, operates as a state commercial bank and has a significant presence in the financial sector. The company's stock trades on the NASDAQ under the ticker symbol BUSE.
InvestingPro Insights
First Busey Corp's recent insider transactions coincide with a broader financial outlook that could be of interest to investors. The company, with a market capitalization of approximately $1.27 billion USD, trades at a P/E ratio of 11.11, reflecting a valuation that may appeal to value-oriented investors. Moreover, the adjusted P/E ratio for the last twelve months as of Q1 2024 stands at 10.95, indicating a potentially favorable earnings perspective relative to the stock price.
An InvestingPro Tip highlights First Busey Corp's commitment to shareholder returns, with the company having maintained dividend payments for an impressive 36 consecutive years. This consistency is underscored by a current dividend yield of 4.26%, a compelling figure for income-focused investors, especially in the context of the broader financial sector.
Additionally, despite a revenue contraction of -5.97% over the last twelve months as of Q1 2024, analysts predict that First Busey Corp will be profitable this year. This forecast aligns with the fact that the company has been profitable over the same period, a detail that could reassure investors of its financial health and stability.
For those seeking a deeper dive into First Busey Corp's financials and future prospects, there are more InvestingPro Tips available. In fact, there are 3 additional tips listed on InvestingPro for First Busey Corp, which investors can access for more nuanced guidance. To explore these insights, visit: https://www.investing.com/pro/BUSE. Don't forget to use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, providing even more value to your investment research.
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