In a recent transaction, Michael David Cassens, a director at First Busey Corp (NASDAQ:BUSE), sold 2,300 shares of the company's common stock. The sale, which took place on April 15, 2024, was executed at a weighted average price of $22.3637 per share, totaling approximately $51,436.
The transaction was carried out under a pre-arranged trading plan, known as a Rule 10b5-1 trading plan, which Cassens had adopted on May 25, 2022. This type of plan allows company insiders to sell shares over a predetermined period of time, providing a defense against accusations of trading on nonpublic information.
Prices for the shares sold by Cassens ranged from $22.22 to $22.55. Following this transaction, Cassens's direct ownership in First Busey Corp stands at 139,804 shares. The sale was reported to the Securities and Exchange Commission and the details, including the price range, were disclosed in accordance with SEC regulations.
Investors and security holders may obtain further information regarding the sale and the specific prices at which the shares were sold upon request to the issuer or the SEC.
First Busey Corporation is a financial holding company headquartered in Urbana, Illinois, and operates a network of banking centers serving Illinois, Missouri, Indiana, and Florida.
InvestingPro Insights
As First Busey Corp (NASDAQ:BUSE) navigates through the financial landscape, recent data from InvestingPro reveals key metrics that could influence investor perceptions. With a market capitalization of $1.24 billion and a Price to Earnings (P/E) ratio standing at 9.94, the company presents a value proposition that may catch the eye of those seeking stable investments. Notably, the P/E ratio has shown a slight adjustment in the last twelve months as of Q4 2023, coming in at 9.81.
InvestingPro Tips suggest that while First Busey Corp has faced downward revisions in earnings expectations by analysts for the upcoming period, it has a track record of maintaining dividend payments for 36 consecutive years. This consistency in rewarding shareholders is further underscored by a dividend yield of 4.08% as of early 2024. Moreover, analysts remain optimistic about the company's profitability in the current year, adding a layer of potential reassurance for investors.
With a dividend growth of 4.35% in the last twelve months as of Q4 2023, First Busey Corp demonstrates its commitment to shareholder returns. However, potential investors should be aware of the company's weak gross profit margins, which could be a point of consideration when evaluating the stock's overall health. For those interested in a deeper analysis, there are additional InvestingPro Tips available that could provide further insight into First Busey Corp's financial performance and outlook. Use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, and unlock the full suite of tips and metrics tailored to your investment strategy.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.