Quantinno Capital Management LP Has $3.60 Million Stock Holdings in First Busey Corporation $BUSE

Quantinno Capital Management LP increased its position in First Busey Corporation (NASDAQ:BUSE) by 45.5% during the first quarter, Holdings Channel reports. The firm owned 142,447 shares of the bank’s stock after buying an additional 44,551 shares during the quarter. Quantinno Capital Management LP’s holdings in First Busey were worth $3,600,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in First Busey by 8.6% during the fourth quarter. Wellington Management Group LLP now owns 7,746,996 shares of the bank’s stock worth $184,301,000 after buying an additional 611,090 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in shares of First Busey by 4.0% in the first quarter. Dimensional Fund Advisors LP now owns 5,067,210 shares of the bank’s stock valued at $128,046,000 after buying an additional 194,343 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Busey by 36,664.6% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock worth $74,510,000 after acquiring an additional 3,123,454 shares during the period. LSV Asset Management increased its holdings in shares of First Busey by 8.0% during the 4th quarter. LSV Asset Management now owns 1,384,661 shares of the bank’s stock worth $32,941,000 after acquiring an additional 102,904 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its stake in First Busey by 12.5% in the 4th quarter. Bank of New York Mellon Corp now owns 1,314,576 shares of the bank’s stock valued at $31,274,000 after acquiring an additional 145,681 shares during the period. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BUSE has been the subject of several research reports. Keefe, Bruyette & Woods raised their price target on First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday, July 31st. Raymond James Financial upped their price objective on shares of First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a report on Wednesday, July 1st. Zacks Research raised shares of First Busey from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, July 21st. Weiss Ratings upgraded shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Finally, Wall Street Zen raised shares of First Busey from a “sell” rating to a “hold” rating in a report on Saturday, August 1st. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $32.00.

First Busey Stock Performance

BUSE opened at $30.98 on Friday. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The business has a fifty day simple moving average of $29.30 and a 200 day simple moving average of $27.09. First Busey Corporation has a 1 year low of $22.00 and a 1 year high of $31.70. The company has a market capitalization of $2.62 billion, a PE ratio of 12.80 and a beta of 0.72.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 EPS for the quarter, topping analysts’ consensus estimates of $0.63 by $0.06. First Busey had a net margin of 21.00% and a return on equity of 10.42%. The business had revenue of $194.27 million for the quarter, compared to analyst estimates of $197.59 million. Research analysts expect that First Busey Corporation will post 2.67 EPS for the current year.

First Busey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 24th were paid a dividend of $0.26 per share. The ex-dividend date was Friday, July 24th. This represents a $1.04 annualized dividend and a yield of 3.4%. First Busey’s dividend payout ratio is presently 42.98%.

First Busey Company Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.