Prudential Financial Inc. cut its holdings in shares of First Busey Corporation (NASDAQ:BUSE) by 52.7% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 26,285 shares of the bank’s stock after selling 29,240 shares during the quarter. Prudential Financial Inc. owned approximately 0.07% of First Busey Corporation worth $771,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. grew its position in shares of First Busey Corporation by 7.8% in the 1st quarter. Vanguard Group Inc. now owns 1,457,492 shares of the bank’s stock worth $42,850,000 after acquiring an additional 105,803 shares in the last quarter. Bank of America Corp DE grew its position in shares of First Busey Corporation by 128.0% in the 1st quarter. Bank of America Corp DE now owns 171,816 shares of the bank’s stock worth $5,051,000 after acquiring an additional 96,454 shares in the last quarter. Marshall Wace North America L.P. grew its position in shares of First Busey Corporation by 569.4% in the 2nd quarter. Marshall Wace North America L.P. now owns 78,664 shares of the bank’s stock worth $2,281,000 after acquiring an additional 66,913 shares in the last quarter. Stifel Financial Corp acquired a new position in First Busey Corporation during the 1st quarter valued at approximately $299,000. Finally, Geode Capital Management LLC boosted its position in First Busey Corporation by 12.8% during the 1st quarter. Geode Capital Management LLC now owns 319,939 shares of the bank’s stock valued at $9,406,000 after purchasing an additional 36,377 shares during the period. Institutional investors own 45.83% of the company’s stock.
In related news, insider Curt A. Anderson sold 1,400 shares of the business’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $29.40, for a total value of $41,160.00. Following the sale, the insider now owns 43,482 shares of the company’s stock, valued at $1,278,370.80. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 9.60% of the company’s stock.
A number of research firms recently issued reports on BUSE. Zacks Investment Research lowered First Busey Corporation from a “buy” rating to a “hold” rating in a research report on Tuesday, October 3rd. Piper Jaffray Companies set a $32.00 price target on First Busey Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, BidaskClub lowered First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average target price of $32.50.
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Shares of First Busey Corporation (BUSE) opened at 31.66 on Tuesday. The stock has a 50 day moving average price of $29.99 and a 200-day moving average price of $29.48. The company has a market cap of $1.44 billion, a P/E ratio of 20.94 and a beta of 1.01. First Busey Corporation has a 1-year low of $22.26 and a 1-year high of $32.22.
First Busey Corporation (NASDAQ:BUSE) last posted its earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share for the quarter, topping analysts’ consensus estimates of $0.42 by $0.01. First Busey Corporation had a net margin of 22.04% and a return on equity of 10.59%. The firm had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $63.40 million. Analysts predict that First Busey Corporation will post $1.73 earnings per share for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 20th will be paid a $0.18 dividend. The ex-dividend date of this dividend is Thursday, October 19th. This represents a $0.72 annualized dividend and a dividend yield of 2.27%. First Busey Corporation’s dividend payout ratio is 47.37%.
About First Busey Corporation
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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