Emerald Mutual Fund Advisers Trust purchased a new stake in First Busey Corp. (NASDAQ:BUSE) during the second quarter, Holdings Channel reports. The institutional investor purchased 36,040 shares of the company’s stock, valued at approximately $771,000.
A number of other hedge funds and other institutional investors also recently modified their holdings of BUSE. Prudential Financial Inc. increased its position in shares of First Busey Corp. by 3.5% in the first quarter. Prudential Financial Inc. now owns 40,319 shares of the company’s stock valued at $826,000 after buying an additional 1,364 shares during the period. Commonwealth Equity Services Inc increased its position in shares of First Busey Corp. by 0.4% in the first quarter. Commonwealth Equity Services Inc now owns 18,671 shares of the company’s stock valued at $382,000 after buying an additional 76 shares during the period. American Century Companies Inc. increased its position in shares of First Busey Corp. by 47.7% in the second quarter. American Century Companies Inc. now owns 73,254 shares of the company’s stock valued at $1,567,000 after buying an additional 23,658 shares during the period. Huntington Asset Advisors Inc. bought a new position in shares of First Busey Corp. during the first quarter valued at about $160,000. Finally, Skyline Asset Management LP increased its position in shares of First Busey Corp. by 4.2% in the first quarter. Skyline Asset Management LP now owns 1,040,870 shares of the company’s stock valued at $21,317,000 after buying an additional 41,955 shares during the period. Institutional investors and hedge funds own 46.21% of the company’s stock.
Shares of First Busey Corp. (NASDAQ:BUSE) traded down 0.54% during mid-day trading on Friday, hitting $22.14. The stock had a trading volume of 54,726 shares. The firm has a market capitalization of $845.84 million, a PE ratio of 15.39 and a beta of 0.92. The stock’s 50-day moving average is $23.05 and its 200-day moving average is $21.91. First Busey Corp. has a 1-year low of $17.68 and a 1-year high of $24.02.
First Busey Corp. (NASDAQ:BUSE) last issued its quarterly earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. First Busey Corp. had a return on equity of 10.66% and a net margin of 22.23%. Equities analysts expect that First Busey Corp. will post $1.52 earnings per share for the current year.
A number of research firms have issued reports on BUSE. Zacks Investment Research downgraded shares of First Busey Corp. from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Keefe, Bruyette & Woods upped their target price on shares of First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have given a buy rating to the company’s stock. First Busey Corp. presently has an average rating of “Hold” and a consensus price target of $22.83.
In related news, Director Stanley J. Bradshaw purchased 1,603 shares of the firm’s stock in a transaction that occurred on Friday, July 29th. The shares were bought at an average price of $22.97 per share, for a total transaction of $36,820.91. Following the completion of the transaction, the director now owns 1,250 shares of the company’s stock, valued at $28,712.50. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 11.50% of the stock is owned by corporate insiders.
First Busey Corp. Company Profile
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 at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.
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