Goldman Sachs Group Inc. reduced its stake in shares of First Busey Co. (NASDAQ:BUSE) by 21.6% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 57,323 shares of the bank’s stock after selling 15,786 shares during the quarter. Goldman Sachs Group Inc. owned about 0.11% of First Busey worth $1,069,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of BUSE. BNP Paribas Arbitrage SA lifted its holdings in shares of First Busey by 23.4% during the first quarter. BNP Paribas Arbitrage SA now owns 15,904 shares of the bank’s stock valued at $272,000 after purchasing an additional 3,014 shares during the last quarter. Geode Capital Management LLC lifted its stake in First Busey by 9.4% in the 1st quarter. Geode Capital Management LLC now owns 769,671 shares of the bank’s stock worth $13,168,000 after acquiring an additional 65,832 shares in the last quarter. Wells Fargo & Company MN lifted its stake in First Busey by 8.6% in the 1st quarter. Wells Fargo & Company MN now owns 120,816 shares of the bank’s stock worth $2,067,000 after acquiring an additional 9,541 shares in the last quarter. Parametric Portfolio Associates LLC increased its position in First Busey by 24.7% in the 1st quarter. Parametric Portfolio Associates LLC now owns 156,760 shares of the bank’s stock worth $2,682,000 after purchasing an additional 31,093 shares during the last quarter. Finally, Royal Bank of Canada increased its position in First Busey by 41.2% in the 1st quarter. Royal Bank of Canada now owns 191,161 shares of the bank’s stock worth $3,271,000 after purchasing an additional 55,732 shares during the last quarter. Hedge funds and other institutional investors own 46.82% of the company’s stock.

Several brokerages have weighed in on BUSE. ValuEngine lowered First Busey from a “hold” rating to a “sell” rating in a research report on Monday, August 3rd. BidaskClub downgraded First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday, September 15th. Zacks Investment Research upgraded First Busey from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th. Finally, Raymond James reiterated a “hold” rating on shares of First Busey in a research report on Friday, August 14th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $25.50.

In other news, Director Stanley J. Bradshaw bought 2,100 shares of the stock in a transaction dated Friday, July 31st. The stock was bought at an average cost of $16.80 per share, with a total value of $35,280.00. Following the purchase, the director now owns 9,491 shares of the company’s stock, valued at $159,448.80. The purchase was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Stephen V. King bought 27,058 shares of the stock in a transaction dated Friday, August 14th. The stock was purchased at an average cost of $18.44 per share, with a total value of $498,949.52. Following the completion of the purchase, the director now directly owns 12,936 shares in the company, valued at approximately $238,539.84. The disclosure for this purchase can be found here. Insiders have purchased a total of 30,358 shares of company stock valued at $554,030 over the last ninety days. Insiders own 7.50% of the company’s stock.

BUSE stock opened at $15.69 on Monday. The business has a fifty day moving average price of $17.61 and a 200 day moving average price of $17.33. First Busey Co. has a fifty-two week low of $11.00 and a fifty-two week high of $28.00. The stock has a market capitalization of $855.36 million, a price-to-earnings ratio of 9.12 and a beta of 1.12. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.90.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $0.47 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.26 by $0.21. First Busey had a return on equity of 8.51% and a net margin of 20.37%. The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.26 million. On average, equities analysts expect that First Busey Co. will post 1.63 earnings per share for the current fiscal year.

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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