GSA Capital Partners LLP purchased a new position in First Busey Co. (NASDAQ:BUSE) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 14,179 shares of the bank’s stock, valued at approximately $445,000.
A number of other institutional investors have also recently made changes to their positions in BUSE. Goldman Sachs Group Inc. boosted its stake in First Busey by 444.1% in the 2nd quarter. Goldman Sachs Group Inc. now owns 218,196 shares of the bank’s stock worth $6,397,000 after purchasing an additional 178,093 shares in the last quarter. Martingale Asset Management L P bought a new position in First Busey in the 2nd quarter worth about $3,855,000. MPS Loria Financial Planners LLC bought a new position in First Busey in the 2nd quarter worth about $3,194,000. Principal Financial Group Inc. boosted its stake in First Busey by 31.2% in the 2nd quarter. Principal Financial Group Inc. now owns 411,150 shares of the bank’s stock worth $12,055,000 after purchasing an additional 97,816 shares in the last quarter. Finally, Dimensional Fund Advisors LP boosted its stake in First Busey by 5.1% in the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,688 shares of the bank’s stock worth $52,328,000 after purchasing an additional 86,789 shares in the last quarter. Institutional investors own 46.09% of the company’s stock.
First Busey Co. (NASDAQ:BUSE) opened at $29.80 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.93. The stock has a market cap of $1,442.02, a PE ratio of 19.48, a price-to-earnings-growth ratio of 2.39 and a beta of 0.98. First Busey Co. has a one year low of $27.33 and a one year high of $32.88.
A number of brokerages recently issued reports on BUSE. Zacks Investment Research upgraded shares of First Busey from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a research note on Monday. BidaskClub cut shares of First Busey from a “hold” rating to a “sell” rating in a research note on Saturday, December 30th. ValuEngine cut shares of First Busey from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $32.00 price target on shares of First Busey in a research note on Thursday, October 26th. Finally, FBR & Co restated a “neutral” rating and set a $34.00 target price (up previously from $32.00) on shares of First Busey in a research note on Wednesday, October 25th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $33.00.
In other First Busey news, Director George Barr sold 1,665 shares of the company’s stock in a transaction dated Friday, October 27th. The shares were sold at an average price of $32.25, for a total transaction of $53,696.25. Following the transaction, the director now owns 64,088 shares in the company, valued at approximately $2,066,838. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.
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About First Busey
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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