Hillcrest Asset Management LLC Sells 7,865 Shares of First Busey Corporation (BUSE)
Hillcrest Asset Management LLC decreased its holdings in First Busey Corporation (NASDAQ:BUSE) by 2.4% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund owned 315,356 shares of the bank’s stock after selling 7,865 shares during the quarter. First Busey Corporation accounts for about 1.8% of Hillcrest Asset Management LLC’s investment portfolio, making the stock its 26th largest position. Hillcrest Asset Management LLC owned approximately 0.69% of First Busey Corporation worth $9,890,000 as of its most recent filing with the SEC.
Other institutional investors have also bought and sold shares of the company. BNP Paribas Arbitrage SA grew its position 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 purchasing an additional 3,964 shares in the last quarter. US Bancorp DE grew its position in 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 in the last quarter. Meeder Asset Management Inc. grew its position in 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 in the last quarter. Citigroup Inc. grew its position in 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 in the last quarter. Finally, Robeco Institutional Asset Management B.V. purchased a new position in First Busey Corporation during the 2nd quarter worth approximately $208,000. Hedge funds and other institutional investors own 45.77% of the company’s stock.
Several equities analysts have recently commented on the stock. Zacks Investment Research cut shares of First Busey Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, August 2nd. ValuEngine cut shares of First Busey Corporation from a “buy” rating to a “hold” rating in a report on Friday. BidaskClub cut shares of First Busey Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. FBR & Co restated a “neutral” rating and set a $34.00 price target (up from $32.00) on shares of First Busey Corporation in a report on Wednesday, October 25th. Finally, Piper Jaffray Companies set a $32.00 price target on shares of First Busey Corporation and gave the company a “hold” rating in a report on Tuesday, July 25th. One analyst has rated the stock with a sell rating and five have issued a hold rating to the company’s stock. First Busey Corporation presently has a consensus rating of “Hold” and an average target price of $33.25.
First Busey Corporation (NASDAQ BUSE) traded up $0.18 during mid-day trading on Monday, hitting $29.57. 240,100 shares of the company traded hands, compared to its average volume of 122,979. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.93. First Busey Corporation has a 1-year low of $25.29 and a 1-year high of $32.44. The firm has a market cap of $1,438.13, a price-to-earnings ratio of 17.39, a PEG ratio of 2.88 and a beta of 0.99.
The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 20th were given a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 2.43%. The ex-dividend date was Thursday, October 19th. First Busey Corporation’s dividend payout ratio is 47.06%.
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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