Alliancebernstein L.P. decreased its position in First Busey Co. (NASDAQ:BUSE) by 8.1% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 68,840 shares of the bank’s stock after selling 6,092 shares during the quarter. Alliancebernstein L.P.’s holdings in First Busey were worth $2,061,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Kennedy Capital Management Inc. raised its position in First Busey by 18.6% in the fourth quarter. Kennedy Capital Management Inc. now owns 256,282 shares of the bank’s stock valued at $7,673,000 after purchasing an additional 40,159 shares during the period. Geode Capital Management LLC raised its position in First Busey by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 406,736 shares of the bank’s stock valued at $12,177,000 after purchasing an additional 2,216 shares during the period. American International Group Inc. raised its position in First Busey by 7.9% in the fourth quarter. American International Group Inc. now owns 27,442 shares of the bank’s stock valued at $822,000 after purchasing an additional 2,005 shares during the period. BlackRock Inc. raised its position in First Busey by 8.5% in the fourth quarter. BlackRock Inc. now owns 2,529,982 shares of the bank’s stock valued at $75,747,000 after purchasing an additional 198,311 shares during the period. Finally, Bank of New York Mellon Corp raised its position in First Busey by 1.0% in the fourth quarter. Bank of New York Mellon Corp now owns 430,761 shares of the bank’s stock valued at $12,897,000 after purchasing an additional 4,121 shares during the period. 47.16% of the stock is currently owned by institutional investors.
BUSE has been the topic of a number of research analyst reports. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $34.00 target price on the stock in a research report on Monday, January 1st. Piper Jaffray reissued a “hold” rating and issued a $33.00 target price on shares of First Busey in a research report on Tuesday, January 9th. Finally, B. Riley raised First Busey from a “neutral” rating to a “buy” rating and cut their target price for the company from $36.00 to $35.00 in a research report on Tuesday, February 6th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $33.60.
NASDAQ:BUSE opened at $29.77 on Monday. The firm has a market capitalization of $1,449.56, a price-to-earnings ratio of 18.49, a price-to-earnings-growth ratio of 2.21 and a beta of 1.04. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.87. First Busey Co. has a 52 week low of $27.33 and a 52 week high of $32.88.
First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.05). The business had revenue of $86.61 million during the quarter, compared to analyst estimates of $82.39 million. First Busey had a return on equity of 9.84% and a net margin of 20.31%. sell-side analysts anticipate that First Busey Co. will post 2.25 earnings per share for the current fiscal year.
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First Busey Company Profile
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
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