Monica L. Bowe, the EVP Chief Risk Officer of First Busey Corp (NASDAQ:BUSE), has recently made a notable stock purchase, according to the latest SEC filings. On March 28, 2024, Bowe acquired 161.0439 shares of First Busey Corp common stock at a price of $20.4425 per share, totaling approximately $3,292.
This transaction was made through the First Busey Corporation Employee Stock Purchase Plan, as indicated by the footnotes in the SEC filing. Post-transaction, Bowe's direct holdings in the company's common stock increased to 2,488.6135 shares.
In addition to this purchase, the filing also disclosed that on April 26, 2024, Bowe was awarded 454 dividend equivalent rights, which are economically akin to shares of common stock, as part of the Restricted Stock Units. These rights accrued in conjunction with the payment of a cash dividend on First Busey Corporation Stock and are valued at $0, indicating that they were granted as part of her compensation package and not purchased.
The buying activity by a high-level executive such as Bowe may be of interest to investors who track insider transactions as part of their investment research. Such transactions can provide insights into the executive's view of the company's current valuation and future prospects.
First Busey Corp, headquartered in Urbana, Illinois, operates within the state commercial banks sector and has been serving its community with a variety of financial services. Investors and shareholders of First Busey Corp will be watching to see how these insider transactions might align with the company's performance in the upcoming quarters.
InvestingPro Insights
As investors consider the implications of Monica L. Bowe's recent stock purchase in First Busey Corp (NASDAQ:BUSE), it's valuable to examine the company's financial health and market performance through the lens of InvestingPro's real-time data and expert analysis. First Busey Corp, with a market capitalization of $1.27 billion and a price-to-earnings (P/E) ratio of 11.11, presents a mixed financial picture.
Despite a notable decline in revenue growth over the last twelve months as of Q1 2024, with a -5.97% change, First Busey Corp has maintained a strong operating income margin of 38.03%. This indicates the company's ability to manage its operating expenses effectively, which could be a reassuring sign for investors. Additionally, the company's dividend yield stands at an attractive 4.26%, reflecting its commitment to returning value to shareholders, as evidenced by its 36 years of consecutive dividend payments—an aspect highlighted in one of the InvestingPro Tips.
Another InvestingPro Tip points out that analysts predict the company will be profitable this year, which aligns with the reported earnings per share (EPS) for continuous operations standing at $2.02. This profitability, coupled with the executive's recent stock purchase, might suggest an insider confidence in the company's trajectory.
For investors seeking a deeper dive into First Busey Corp's financials and market performance, InvestingPro offers additional insights. There are more InvestingPro Tips available that could provide further guidance on the investment potential of First Busey Corp. To access these tips and enhance your investment strategy, use the coupon code PRONEWS24 to get an additional 10% off a yearly or biyearly Pro and Pro+ subscription.
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