Russell Investments Group Ltd. lowered its position in shares of First Busey Co. (NASDAQ:BUSE) by 21.6% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 241,810 shares of the bank’s stock after selling 66,718 shares during the quarter. Russell Investments Group Ltd. owned 0.43% of First Busey worth $6,384,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Strs Ohio boosted its stake in First Busey by 7.6% during the second quarter. Strs Ohio now owns 9,900 shares of the bank’s stock valued at $261,000 after buying an additional 700 shares in the last quarter. Meeder Asset Management Inc. boosted its stake in First Busey by 12.2% during the second quarter. Meeder Asset Management Inc. now owns 9,756 shares of the bank’s stock valued at $258,000 after buying an additional 1,062 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in First Busey by 5.1% during the second quarter. Envestnet Asset Management Inc. now owns 34,687 shares of the bank’s stock valued at $916,000 after buying an additional 1,696 shares in the last quarter. California Public Employees Retirement System boosted its stake in First Busey by 2.8% during the first quarter. California Public Employees Retirement System now owns 90,527 shares of the bank’s stock valued at $2,209,000 after buying an additional 2,496 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in First Busey by 13.1% during the second quarter. Commonwealth Equity Services LLC now owns 23,358 shares of the bank’s stock valued at $616,000 after buying an additional 2,699 shares in the last quarter. 48.74% of the stock is owned by institutional investors and hedge funds.

Several equities research analysts have recently commented on BUSE shares. ValuEngine raised First Busey from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. B. Riley downgraded First Busey from a “buy” rating to a “neutral” rating and reduced their target price for the company from $30.00 to $28.00 in a report on Wednesday, August 21st. BidaskClub downgraded First Busey from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Zacks Investment Research raised First Busey from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. Finally, Stephens downgraded First Busey from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $30.00 to $29.00 in a report on Tuesday, July 9th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. The stock has an average rating of “Hold” and an average price target of $29.25.

Shares of NASDAQ BUSE traded up $0.47 during mid-day trading on Friday, hitting $26.29. 1,688 shares of the company traded hands, compared to its average volume of 111,752. First Busey Co. has a 1 year low of $23.13 and a 1 year high of $31.76. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 12.54, a PEG ratio of 2.03 and a beta of 1.02. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. The business has a 50 day moving average of $25.24 and a two-hundred day moving average of $25.63.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, July 23rd. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. First Busey had a return on equity of 10.01% and a net margin of 24.14%. The business had revenue of $101.32 million during the quarter, compared to the consensus estimate of $102.67 million. As a group, research analysts anticipate that First Busey Co. will post 2.07 EPS for the current year.

In other First Busey news, Director David J. Downey acquired 7,500 shares of First Busey stock in a transaction that occurred on Tuesday, August 27th. The stock was purchased at an average cost of $24.06 per share, with a total value of $180,450.00. Following the purchase, the director now owns 189,949 shares in the company, valued at $4,570,172.94. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 7.50% of the stock is currently owned by corporate insiders.

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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Institutional Ownership by Quarter for First Busey (NASDAQ:BUSE)

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