Goldman Sachs Group Inc. Reduces Position in First Busey Corporation (BUSE)
Goldman Sachs Group Inc. decreased its position in shares of First Busey Corporation (NASDAQ:BUSE) by 19.6% during the first quarter, Holdings Channel reports. The fund owned 40,103 shares of the bank’s stock after selling 9,764 shares during the period. Goldman Sachs Group Inc.’s holdings in First Busey Corporation were worth $1,179,000 as of its most recent filing with the SEC.
A number of other institutional investors have also recently made changes to their positions in the stock. Thomson Horstmann & Bryant Inc. raised its position in shares of First Busey Corporation by 32.5% in the first quarter. Thomson Horstmann & Bryant Inc. now owns 576,033 shares of the bank’s stock worth $16,935,000 after buying an additional 141,364 shares during the last quarter. Stifel Financial Corp purchased a new position in shares of First Busey Corporation during the first quarter worth approximately $299,000. Dynamic Technology Lab Private Ltd purchased a new position in shares of First Busey Corporation during the first quarter worth approximately $416,000. Wellington Management Group LLP raised its position in shares of First Busey Corporation by 0.3% in the first quarter. Wellington Management Group LLP now owns 2,601,325 shares of the bank’s stock worth $76,479,000 after buying an additional 8,500 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of First Busey Corporation by 12.8% in the first quarter. Geode Capital Management LLC now owns 319,939 shares of the bank’s stock worth $9,406,000 after buying an additional 36,377 shares during the last quarter. 43.83% of the stock is owned by institutional investors.
Shares of First Busey Corporation (NASDAQ:BUSE) traded down 1.25% during midday trading on Friday, reaching $28.50. The company’s stock had a trading volume of 45,889 shares. First Busey Corporation has a one year low of $21.80 and a one year high of $32.22. The stock’s 50 day moving average price is $29.30 and its 200 day moving average price is $29.60. The firm has a market cap of $1.09 billion, a price-to-earnings ratio of 18.85 and a beta of 0.99.
First Busey Corporation (NASDAQ:BUSE) last announced its earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate 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 business had revenue of $62.43 million during the quarter, compared to the consensus estimate of $63.40 million. Analysts predict that First Busey Corporation will post $1.74 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 21st were paid a dividend of $0.18 per share. The ex-dividend date was Wednesday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 2.49%. First Busey Corporation’s dividend payout ratio (DPR) is 47.37%.
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BUSE has been the subject of a number of research reports. Piper Jaffray Companies set a $32.00 price target on First Busey Corporation and gave the company a “hold” rating in a research note on Tuesday, July 25th. Zacks Investment Research lowered First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Tuesday, May 16th. ValuEngine upgraded First Busey Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods restated a “hold” rating and set a $31.00 price objective on shares of First Busey Corporation in a research report on Friday, May 26th. Finally, BidaskClub downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Two research analysts have rated the stock with a sell rating, three have issued a hold rating and one has issued a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $32.00.
In other news, insider Curt A. Anderson sold 1,400 shares of the stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $29.40, for a total transaction of $41,160.00. Following the completion of the sale, the insider now owns 43,482 shares in the company, valued at $1,278,370.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.
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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