Bank of America Corp DE increased its position in First Busey Corporation (NASDAQ:BUSE) by 128.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 171,816 shares of the bank’s stock after buying an additional 96,454 shares during the period. Bank of America Corp DE owned approximately 0.45% of First Busey Corporation worth $5,051,000 at the end of the most recent reporting period.
A number of other hedge funds also recently bought and sold shares of the company. Wellington Management Group LLP raised its stake in First Busey Corporation by 0.3% in the first quarter. Wellington Management Group LLP now owns 2,601,325 shares of the bank’s stock worth $76,479,000 after buying an additional 8,500 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in First Busey Corporation by 4.4% in the first quarter. Dimensional Fund Advisors LP now owns 1,697,899 shares of the bank’s stock worth $49,918,000 after buying an additional 71,916 shares in the last quarter. Vanguard Group Inc. raised its stake in First Busey Corporation by 7.8% in the first quarter. Vanguard Group Inc. now owns 1,457,492 shares of the bank’s stock worth $42,850,000 after buying an additional 105,803 shares in the last quarter. Columbia Wanger Asset Management LLC raised its stake in First Busey Corporation by 9.4% in the first quarter. Columbia Wanger Asset Management LLC now owns 848,002 shares of the bank’s stock worth $24,931,000 after buying an additional 72,513 shares in the last quarter. Finally, Thomson Horstmann & Bryant Inc. raised its stake in First Busey Corporation by 32.5% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 576,033 shares of the bank’s stock worth $16,935,000 after buying an additional 141,364 shares in the last quarter. Institutional investors own 44.11% of the company’s stock.
First Busey Corporation (NASDAQ:BUSE) opened at 28.41 on Friday. The company has a 50-day moving average of $29.30 and a 200-day moving average of $29.55. The stock has a market capitalization of $1.29 billion, a price-to-earnings ratio of 18.79 and a beta of 0.99. First Busey Corporation has a 52 week low of $21.80 and a 52 week high of $32.22.
First Busey Corporation (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. First Busey Corporation had a net margin of 22.04% and a return on equity of 10.59%. The company had revenue of $62.43 million for the quarter, compared to the consensus estimate of $63.40 million. Analysts anticipate that First Busey Corporation will post $1.74 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, July 28th. Shareholders of record on Friday, July 21st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, July 19th. First Busey Corporation’s dividend payout ratio (DPR) is presently 47.37%.
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BUSE has been the subject of a number of analyst reports. BidaskClub upgraded First Busey Corporation from a “sell” rating to a “hold” rating in a report on Saturday, June 10th. ValuEngine raised First Busey Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Zacks Investment Research downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, May 16th. Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the company a “hold” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $31.00 price target on shares of First Busey Corporation in a research note on Wednesday, April 26th. Two equities research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $32.00.
In other First Busey Corporation news, insider Curt A. Anderson sold 1,400 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $29.40, for a total value of $41,160.00. Following the sale, the insider now owns 43,482 shares of the company’s stock, valued at $1,278,370.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 9.60% of the stock is owned by corporate insiders.
First Busey Corporation Company Profile
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.
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