LSV Asset Management trimmed its position in First Busey Co. (NASDAQ:BUSE) by 1.0% during the first quarter, Holdings Channel reports. The institutional investor owned 296,123 shares of the bank’s stock after selling 3,000 shares during the quarter. LSV Asset Management’s holdings in First Busey were worth $8,800,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently made changes to their positions in the business. BlackRock Inc. boosted its position in First Busey by 8.5% in the 4th quarter. BlackRock Inc. now owns 2,529,982 shares of the bank’s stock valued at $75,747,000 after buying an additional 198,311 shares during the last quarter. Renaissance Technologies LLC boosted its position in First Busey by 4.1% in the 4th quarter. Renaissance Technologies LLC now owns 575,133 shares of the bank’s stock valued at $17,219,000 after buying an additional 22,800 shares during the last quarter. Bank of New York Mellon Corp boosted its position in First Busey by 1.0% in the 4th quarter. Bank of New York Mellon Corp now owns 430,761 shares of the bank’s stock valued at $12,897,000 after buying an additional 4,121 shares during the last quarter. Geode Capital Management LLC boosted its position in First Busey by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 406,736 shares of the bank’s stock valued at $12,177,000 after buying an additional 2,216 shares during the last quarter. Finally, Millennium Management LLC boosted its position in First Busey by 59.6% in the 4th quarter. Millennium Management LLC now owns 266,245 shares of the bank’s stock valued at $7,971,000 after buying an additional 99,411 shares during the last quarter. Hedge funds and other institutional investors own 46.61% of the company’s stock.
First Busey opened at $31.50 on Friday, MarketBeat.com reports. First Busey Co. has a 12-month low of $27.33 and a 12-month high of $32.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.89 and a current ratio of 0.89. The firm has a market capitalization of $1.54 billion, a PE ratio of 17.57, a P/E/G ratio of 2.39 and a beta of 1.06.
First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Tuesday, April 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.07). First Busey had a return on equity of 9.93% and a net margin of 20.74%. The company had revenue of $82.24 million during the quarter, compared to the consensus estimate of $84.98 million. analysts forecast that First Busey Co. will post 2.2 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 20th were given a $0.20 dividend. The ex-dividend date was Thursday, April 19th. This represents a $0.80 annualized dividend and a dividend yield of 2.54%. First Busey’s dividend payout ratio is currently 49.69%.
BUSE has been the topic of a number of recent research reports. B. Riley upgraded First Busey from a “neutral” rating to a “buy” rating and decreased their price objective for the company from $36.00 to $35.00 in a research report on Tuesday, February 6th. Zacks Investment Research lowered First Busey from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Finally, Keefe, Bruyette & Woods upgraded First Busey from a “market perform” rating to an “outperform” rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and two have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and an average price target of $33.60.
About First Busey
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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