IndexIQ Advisors LLC lessened its holdings in shares of First Busey Co. (NASDAQ:BUSE) by 24.1% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 33,243 shares of the bank’s stock after selling 10,552 shares during the quarter. IndexIQ Advisors LLC owned about 0.06% of First Busey worth $914,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds have also modified their holdings of BUSE. First Trust Advisors LP boosted its position in shares of First Busey by 86.5% during the 1st quarter. First Trust Advisors LP now owns 127,968 shares of the bank’s stock valued at $3,122,000 after acquiring an additional 59,368 shares during the last quarter. Envestnet Asset Management Inc. raised its holdings in shares of First Busey by 9.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 37,961 shares of the bank’s stock valued at $960,000 after buying an additional 3,274 shares in the last quarter. Rhumbline Advisers raised its holdings in shares of First Busey by 9.6% during the 3rd quarter. Rhumbline Advisers now owns 85,641 shares of the bank’s stock valued at $2,165,000 after buying an additional 7,488 shares in the last quarter. California Public Employees Retirement System raised its holdings in shares of First Busey by 63.7% during the 3rd quarter. California Public Employees Retirement System now owns 134,148 shares of the bank’s stock valued at $3,391,000 after buying an additional 52,194 shares in the last quarter. Finally, Russell Investments Group Ltd. raised its holdings in shares of First Busey by 14.0% during the 3rd quarter. Russell Investments Group Ltd. now owns 275,714 shares of the bank’s stock valued at $6,971,000 after buying an additional 33,904 shares in the last quarter. Hedge funds and other institutional investors own 46.42% of the company’s stock.
Shares of NASDAQ BUSE opened at $25.74 on Friday. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 12.12 and a beta of 0.98. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.22. First Busey Co. has a 1-year low of $23.44 and a 1-year high of $28.00. The stock’s 50-day moving average is $26.74 and its 200 day moving average is $26.13.
First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.52 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). The firm had revenue of $103.57 million for the quarter, compared to analysts’ expectations of $102.91 million. First Busey had a net margin of 21.78% and a return on equity of 9.85%. On average, analysts forecast that First Busey Co. will post 2.11 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Investors of record on Friday, January 24th were issued a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.42%. This is a boost from First Busey’s previous quarterly dividend of $0.21. The ex-dividend date was Thursday, January 23rd. First Busey’s dividend payout ratio (DPR) is currently 40.93%.
A number of equities analysts recently weighed in on BUSE shares. BidaskClub cut First Busey from a “sell” rating to a “strong sell” rating in a report on Friday, January 24th. DA Davidson cut First Busey from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $30.00 to $29.00 in a report on Sunday, February 2nd. Zacks Investment Research cut First Busey from a “hold” rating to a “sell” rating in a report on Wednesday, January 1st. B. Riley cut First Busey from a “buy” rating to a “neutral” rating in a report on Friday, February 7th. Finally, ValuEngine raised First Busey from a “sell” rating to a “hold” rating in a report on Wednesday. Two research analysts have rated the stock with a sell rating and four have assigned a hold rating to the stock. The company has a consensus rating of “Hold” and a consensus price target of $29.00.
About First Busey
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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