Campbell & CO Investment Adviser LLC acquired a new stake in shares of First Busey Co. (NASDAQ:BUSE) in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 21,747 shares of the bank’s stock, valued at approximately $346,000.
Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Woodley Farra Manion Portfolio Management Inc. raised its stake in shares of First Busey by 32.0% during the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 2,477 shares of the bank’s stock worth $46,000 after purchasing an additional 600 shares in the last quarter. Bank of Montreal Can raised its position in First Busey by 61.5% during the second quarter. Bank of Montreal Can now owns 8,064 shares of the bank’s stock valued at $131,000 after acquiring an additional 3,070 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in First Busey by 75.8% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,114 shares of the bank’s stock valued at $170,000 after acquiring an additional 3,930 shares during the last quarter. Strs Ohio grew its position in First Busey by 10.1% in the second quarter. Strs Ohio now owns 10,900 shares of the bank’s stock worth $203,000 after acquiring an additional 1,000 shares in the last quarter. Finally, Advisor Group Holdings Inc. acquired a new position in shares of First Busey during the 1st quarter worth $128,000. 46.82% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Stanley J. Bradshaw acquired 2,100 shares of the stock in a transaction dated Friday, July 31st. The shares were acquired at an average cost of $16.80 per share, for a total transaction of $35,280.00. Following the completion of the transaction, the director now owns 9,491 shares in the company, valued at approximately $159,448.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen V. King bought 27,058 shares of the business’s stock in a transaction that occurred on Friday, August 14th. The stock was purchased at an average price of $18.44 per share, with a total value of $498,949.52. Following the completion of the purchase, the director now directly owns 12,936 shares of the company’s stock, valued at approximately $238,539.84. The disclosure for this purchase can be found here. In the last 90 days, insiders have bought 30,358 shares of company stock worth $554,030. Insiders own 7.50% of the company’s stock.
Several equities analysts have commented on BUSE shares. BidaskClub downgraded shares of First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday, September 15th. Raymond James reissued a “hold” rating on shares of First Busey in a report on Friday, August 14th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, ValuEngine downgraded First Busey from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Two analysts have rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. The company has an average rating of “Hold” and an average target price of $25.50.
Shares of NASDAQ:BUSE opened at $17.49 on Friday. The company has a market cap of $953.49 million, a price-to-earnings ratio of 10.17 and a beta of 1.17. The business has a 50 day moving average price of $17.02 and a 200 day moving average price of $17.33. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. First Busey Co. has a twelve month low of $11.00 and a twelve month high of $28.00.
First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, July 28th. The bank reported $0.47 earnings per share for the quarter, beating the consensus estimate of $0.26 by $0.21. First Busey had a return on equity of 8.51% and a net margin of 20.37%. The company had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.26 million. Analysts anticipate that First Busey Co. will post 1.61 EPS for the current year.
The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be given a $0.22 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $0.88 annualized dividend and a yield of 5.03%. First Busey’s dividend payout ratio is 40.93%.
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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