Blair William & Co. IL bought a new position in shares of First Busey Co. (NASDAQ:BUSE) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 43,645 shares of the bank’s stock, valued at approximately $1,355,000. Blair William & Co. IL owned approximately 0.09% of First Busey at the end of the most recent quarter.
Several other hedge funds have also modified their holdings of BUSE. Virginia Retirement Systems ET AL purchased a new position in First Busey in the 2nd quarter valued at approximately $209,000. Meeder Asset Management Inc. increased its stake in First Busey by 131.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,068 shares of the bank’s stock valued at $251,000 after purchasing an additional 4,577 shares in the last quarter. Quantitative Systematic Strategies LLC increased its stake in First Busey by 35.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock valued at $333,000 after purchasing an additional 2,747 shares in the last quarter. WINTON GROUP Ltd increased its stake in First Busey by 45.1% in the 3rd quarter. WINTON GROUP Ltd now owns 12,695 shares of the bank’s stock valued at $394,000 after purchasing an additional 3,946 shares in the last quarter. Finally, Trexquant Investment LP purchased a new position in First Busey in the 3rd quarter valued at approximately $402,000. 51.10% of the stock is owned by institutional investors and hedge funds.
First Busey stock opened at $26.63 on Friday. The company has a quick ratio of 0.86, a current ratio of 0.87 and a debt-to-equity ratio of 0.23. The firm has a market cap of $1.31 billion, a price-to-earnings ratio of 16.54, a P/E/G ratio of 2.12 and a beta of 1.00. First Busey Co. has a fifty-two week low of $25.61 and a fifty-two week high of $33.25.
First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.55 earnings per share for the quarter, hitting the consensus estimate of $0.55. The company had revenue of $82.63 million during the quarter, compared to the consensus estimate of $85.16 million. First Busey had a return on equity of 10.29% and a net margin of 23.02%. On average, research analysts anticipate that First Busey Co. will post 2.12 EPS for the current year.
BUSE has been the subject of several research analyst reports. B. Riley dropped their price objective on First Busey from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $31.00 price target for the company in a research report on Wednesday, October 24th. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a research report on Tuesday, October 30th. Finally, ValuEngine downgraded First Busey from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Two research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $31.67.
First Busey 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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