Xact Kapitalforvaltning AB bought a new position in First Busey Co. (NASDAQ:BUSE) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor bought 7,995 shares of the bank’s stock, valued at approximately $239,000.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Magnetar Financial LLC acquired a new position in First Busey in the 3rd quarter worth about $204,000. LPL Financial LLC bought a new stake in shares of First Busey in the 4th quarter valued at about $281,000. Legal & General Group Plc grew its position in shares of First Busey by 24.0% in the 3rd quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock valued at $311,000 after buying an additional 1,918 shares during the last quarter. US Bancorp DE grew its position in shares of First Busey by 168.6% in the 4th quarter. US Bancorp DE now owns 11,678 shares of the bank’s stock valued at $349,000 after buying an additional 7,331 shares during the last quarter. Finally, Meeder Asset Management Inc. grew its position in shares of First Busey by 117.9% in the 4th quarter. Meeder Asset Management Inc. now owns 13,068 shares of the bank’s stock valued at $391,000 after buying an additional 7,070 shares during the last quarter. 47.16% of the stock is owned by institutional investors and hedge funds.
Shares of First Busey stock opened at $30.20 on Monday. First Busey Co. has a one year low of $27.33 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.89. The stock has a market cap of $1,471.00, a P/E ratio of 17.76, a price-to-earnings-growth ratio of 2.24 and a beta of 1.04.
First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). First Busey had a net margin of 20.31% and a return on equity of 9.84%. The business had revenue of $86.61 million for the quarter, compared to the consensus estimate of $82.39 million. equities research analysts expect that First Busey Co. will post 2.25 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 20th will be given a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. First Busey’s payout ratio is 49.69%.
A number of equities research analysts have commented on the company. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a research report on Tuesday, April 10th. Piper Jaffray reiterated a “hold” rating and issued a $33.00 price target on shares of First Busey in a research report on Tuesday, January 9th. Finally, B. Riley upgraded First Busey from a “neutral” rating to a “buy” rating and reduced their price target for the company from $36.00 to $35.00 in a research report on Tuesday, February 6th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. First Busey presently has a consensus rating of “Hold” and an average target price of $33.60.
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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