Russell Investments Group Ltd. bought a new position in shares of First Busey Co. (NASDAQ:BUSE) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 65,264 shares of the bank’s stock, valued at approximately $2,070,000. Russell Investments Group Ltd. owned about 0.13% of First Busey as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in the company. Segall Bryant & Hamill LLC boosted its holdings in First Busey by 0.7% in the first quarter. Segall Bryant & Hamill LLC now owns 236,931 shares of the bank’s stock valued at $7,042,000 after acquiring an additional 1,754 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in First Busey by 15.9% in the second quarter. Victory Capital Management Inc. now owns 15,424 shares of the bank’s stock valued at $489,000 after acquiring an additional 2,117 shares during the last quarter. Quantitative Systematic Strategies LLC boosted its holdings in First Busey by 35.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock valued at $333,000 after acquiring an additional 2,747 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in First Busey by 4.4% in the first quarter. Wells Fargo & Company MN now owns 68,963 shares of the bank’s stock valued at $2,049,000 after acquiring an additional 2,878 shares during the last quarter. Finally, SG Americas Securities LLC boosted its holdings in First Busey by 83.8% in the first quarter. SG Americas Securities LLC now owns 6,477 shares of the bank’s stock valued at $192,000 after acquiring an additional 2,953 shares during the last quarter. Institutional investors own 49.37% of the company’s stock.

NASDAQ:BUSE opened at $31.04 on Tuesday. First Busey Co. has a 1-year low of $28.34 and a 1-year high of $33.25. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The stock has a market capitalization of $1.53 billion, a price-to-earnings ratio of 16.56, a P/E/G ratio of 2.44 and a beta of 0.99.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, July 24th. The bank reported $0.51 earnings per share for the quarter, missing the consensus estimate of $0.53 by ($0.02). First Busey had a net margin of 21.51% and a return on equity of 9.97%. The company had revenue of $83.17 million during the quarter, compared to analyst estimates of $84.85 million. research analysts anticipate that First Busey Co. will post 2.14 EPS for the current year.

Several research firms have weighed in on BUSE. BidaskClub lowered First Busey from a “buy” rating to a “hold” rating in a research note on Friday, July 27th. B. Riley increased their target price on First Busey from $35.00 to $36.00 and gave the company a “buy” rating in a research note on Tuesday, June 19th. Keefe, Bruyette & Woods raised First Busey from a “market perform” rating to an “outperform” rating in a research note on Thursday, May 31st. Zacks Investment Research raised First Busey from a “sell” rating to a “hold” rating in a research note on Monday, May 28th. Finally, FIG Partners reissued an “outperform” rating on shares of First Busey in a research note on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and three have given a buy rating to the stock. First Busey has a consensus rating of “Hold” and a consensus price target of $33.80.

First Busey 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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