Crescent Grove Advisors LLC Takes Position in First Busey Corporation (BUSE)
Crescent Grove Advisors LLC acquired a new position in shares of First Busey Corporation (NASDAQ:BUSE) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 41,433 shares of the bank’s stock, valued at approximately $1,299,000. Crescent Grove Advisors LLC owned about 0.09% of First Busey Corporation at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of BUSE. BNP Paribas Arbitrage SA boosted its holdings in First Busey Corporation by 799.2% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,460 shares of the bank’s stock worth $131,000 after acquiring an additional 3,964 shares during the last quarter. US Bancorp DE raised its stake in shares of First Busey Corporation by 0.5% during the 2nd quarter. US Bancorp DE now owns 4,951 shares of the bank’s stock worth $145,000 after purchasing an additional 23 shares during the period. Citigroup Inc. raised its stake in shares of First Busey Corporation by 45.5% during the 2nd quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock worth $188,000 after purchasing an additional 2,009 shares during the period. Meeder Asset Management Inc. raised its stake in shares of First Busey Corporation by 143.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,998 shares of the bank’s stock worth $188,000 after purchasing an additional 3,536 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new stake in shares of First Busey Corporation during the 2nd quarter worth $208,000. 45.77% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently commented on BUSE shares. Zacks Investment Research upgraded First Busey Corporation from a “hold” rating to a “buy” rating and set a $35.00 target price on the stock in a research note on Monday, October 2nd. Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $32.00 target price on shares of First Busey Corporation in a research note on Thursday, October 26th. FBR & Co reiterated a “neutral” rating and set a $34.00 target price (up from $32.00) on shares of First Busey Corporation in a research note on Wednesday, October 25th. Finally, ValuEngine cut First Busey Corporation from a “buy” rating to a “hold” rating in a research note on Friday. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company. First Busey Corporation currently has a consensus rating of “Hold” and an average target price of $33.25.
Shares of First Busey Corporation (NASDAQ:BUSE) traded up $0.18 during trading on Monday, reaching $29.57. The company had a trading volume of 240,100 shares, compared to its average volume of 122,979. First Busey Corporation has a fifty-two week low of $25.29 and a fifty-two week high of $32.44. The company has a market cap of $1,438.13, a PE ratio of 17.39, a P/E/G ratio of 2.88 and a beta of 0.99. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 20th were paid a $0.18 dividend. This represents a $0.72 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date of this dividend was Thursday, October 19th. First Busey Corporation’s dividend payout ratio is currently 47.06%.
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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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