First Busey Corporation (NASDAQ:BUSE) Stake Raised by Vanguard Group Inc.
Vanguard Group Inc. increased its stake in First Busey Corporation (NASDAQ:BUSE) by 7.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,457,492 shares of the bank’s stock after buying an additional 105,803 shares during the period. Vanguard Group Inc. owned approximately 3.81% of First Busey Corporation worth $42,850,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in BUSE. Thomson Horstmann & Bryant Inc. raised its stake in shares of 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 during the period. Stifel Financial Corp acquired a new stake in shares of First Busey Corporation during the first quarter worth $299,000. Dynamic Technology Lab Private Ltd acquired a new stake in shares of First Busey Corporation during the first quarter worth $416,000. Wellington Management Group LLP raised its stake in shares of 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 during the period. Finally, Columbia Wanger Asset Management LLC raised its stake in shares of 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 during the period. Hedge funds and other institutional investors own 43.83% of the company’s stock.
Shares of First Busey Corporation (NASDAQ:BUSE) traded down 1.21% during mid-day trading on Friday, hitting $28.51. The stock had a trading volume of 146,375 shares. First Busey Corporation has a 1-year low of $21.80 and a 1-year high of $32.22. The company has a market capitalization of $1.30 billion, a P/E ratio of 18.86 and a beta of 0.99. The stock’s 50-day moving average price is $29.30 and its 200 day moving average price is $29.59.
First Busey Corporation (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. First Busey Corporation had a return on equity of 10.59% and a net margin of 22.04%. The business had revenue of $62.43 million during the quarter, compared to the consensus estimate of $63.40 million. On average, analysts predict that First Busey Corporation will post $1.74 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 21st were given a dividend of $0.18 per share. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 2.53%. First Busey Corporation’s dividend payout ratio is currently 47.37%.
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BUSE has been the subject of a number of research reports. Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the company a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. ValuEngine upgraded First Busey Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. Keefe, Bruyette & Woods restated a “hold” rating and issued a $31.00 target price on shares of First Busey Corporation in a research note on Friday, May 26th. Finally, BidaskClub lowered First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Saturday, June 24th. Two investment 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. First Busey Corporation has an average rating of “Hold” and an average price target of $32.00.
In related news, insider Curt A. Anderson sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $29.40, for a total transaction of $41,160.00. Following the completion of the sale, the insider now directly owns 43,482 shares in the company, valued at approximately $1,278,370.80. The sale was disclosed in a filing with the SEC, which is available through this link. 9.60% of the stock is owned by corporate insiders.
About First Busey Corporation
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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