Quantamental Technologies LLC acquired a new position in shares of First Busey Co. (NASDAQ:BUSE) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 1,955 shares of the bank’s stock, valued at approximately $52,000.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. boosted its holdings in First Busey by 8.0% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 273,975 shares of the bank’s stock worth $7,236,000 after acquiring an additional 20,397 shares during the last quarter. Bank of Montreal Can raised its stake in shares of First Busey by 58.5% during the 2nd quarter. Bank of Montreal Can now owns 10,429 shares of the bank’s stock worth $275,000 after purchasing an additional 3,849 shares during the period. Context BH Capital Management LP raised its stake in shares of First Busey by 15.8% during the 2nd quarter. Context BH Capital Management LP now owns 15,357 shares of the bank’s stock worth $406,000 after purchasing an additional 2,100 shares during the period. Prudential Financial Inc. raised its stake in shares of First Busey by 108.8% during the 2nd quarter. Prudential Financial Inc. now owns 61,325 shares of the bank’s stock worth $1,620,000 after purchasing an additional 31,957 shares during the period. Finally, Acadian Asset Management LLC bought a new stake in shares of First Busey during the 2nd quarter worth $922,000. 48.74% of the stock is currently owned by hedge funds and other institutional investors.
In other news, Director David J. Downey acquired 7,500 shares of the stock in a transaction that occurred on Tuesday, August 27th. The shares were acquired at an average cost of $24.06 per share, for a total transaction of $180,450.00. Following the purchase, the director now owns 189,949 shares of the company’s stock, valued at approximately $4,570,172.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.50% of the company’s stock.
A number of equities research analysts have recently commented on the company. ValuEngine upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. BidaskClub cut First Busey from a “hold” rating to a “sell” rating in a research note on Friday, September 6th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. B. Riley cut First Busey from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $30.00 to $28.00 in a research note on Wednesday, August 21st. Finally, Stephens cut First Busey from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $30.00 to $29.00 in a research note on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average price target of $29.25.
Shares of NASDAQ BUSE traded up $0.47 during mid-day trading on Friday, reaching $26.29. 2,525 shares of the company’s stock were exchanged, compared to its average volume of 111,752. The firm has a market capitalization of $1.39 billion, a price-to-earnings ratio of 12.52, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. First Busey Co. has a 52 week low of $23.13 and a 52 week high of $31.76. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. The firm has a 50-day moving average price of $25.24 and a two-hundred day moving average price of $25.63.
First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, July 23rd. The bank reported $0.53 EPS for the quarter, topping the Zacks’ consensus estimate of $0.52 by $0.01. First Busey had a return on equity of 10.01% and a net margin of 24.14%. The company had revenue of $101.32 million for the quarter, compared to analysts’ expectations of $102.67 million. As a group, sell-side analysts forecast that First Busey Co. will post 2.07 EPS for the current fiscal year.
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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