Envestnet Asset Management Inc. grew its holdings in First Busey Co. (NASDAQ:BUSE) by 9.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 37,961 shares of the bank’s stock after purchasing an additional 3,274 shares during the quarter. Envestnet Asset Management Inc. owned about 0.07% of First Busey worth $960,000 as of its most recent filing with the SEC.
Several other large investors have also modified their holdings of the company. BlackRock Inc. grew its position in shares of First Busey by 12.9% in the second quarter. BlackRock Inc. now owns 3,682,186 shares of the bank’s stock valued at $97,246,000 after purchasing an additional 419,408 shares during the last quarter. Vanguard Group Inc. grew its position in shares of First Busey by 1.9% in the second quarter. Vanguard Group Inc. now owns 2,143,681 shares of the bank’s stock valued at $56,615,000 after purchasing an additional 39,290 shares during the last quarter. Nuveen Asset Management LLC grew its position in shares of First Busey by 18.4% in the second quarter. Nuveen Asset Management LLC now owns 1,598,947 shares of the bank’s stock valued at $42,228,000 after purchasing an additional 248,613 shares during the last quarter. Bank of Edwardsville grew its position in First Busey by 99.2% during the second quarter. Bank of Edwardsville now owns 1,117,096 shares of the bank’s stock worth $29,503,000 after buying an additional 556,401 shares in the last quarter. Finally, Deprince Race & Zollo Inc. grew its position in First Busey by 28.4% during the second quarter. Deprince Race & Zollo Inc. now owns 1,092,883 shares of the bank’s stock worth $28,863,000 after buying an additional 241,747 shares in the last quarter. 46.57% of the stock is currently owned by institutional investors.
BUSE stock opened at $27.10 on Friday. First Busey Co. has a twelve month low of $23.13 and a twelve month high of $28.98. The company has a market cap of $1.51 billion, a PE ratio of 12.90 and a beta of 1.00. The business’s 50-day simple moving average is $25.60 and its 200 day simple moving average is $25.63. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22.
First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, October 22nd. The bank reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). First Busey had a return on equity of 9.98% and a net margin of 22.18%. The firm had revenue of $104.41 million for the quarter, compared to analyst estimates of $103.17 million. On average, equities research analysts anticipate that First Busey Co. will post 2.1 EPS for the current year.
The company also recently announced a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 18th were given a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.10%. The ex-dividend date of this dividend was Thursday, October 17th. First Busey’s dividend payout ratio (DPR) is presently 40.00%.
A number of equities research analysts recently weighed in on the company. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a research report on Wednesday, October 23rd. B. Riley decreased their target price on First Busey from $28.00 to $27.00 and set a “neutral” rating on the stock in a research report on Friday, October 4th. ValuEngine raised First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, August 1st. Finally, Zacks Investment Research downgraded First Busey from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. One research analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $28.33.
In related news, Director David J. Downey acquired 7,500 shares of the firm’s stock in a transaction on Tuesday, August 27th. The shares were bought at an average cost of $24.06 per share, with a total value of $180,450.00. Following the completion of the acquisition, the director now owns 189,949 shares of the company’s stock, valued at $4,570,172.94. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. 7.50% of the stock is owned by company insiders.
First Busey Company 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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