Schwab Charles Investment Management Inc. Has $5.99 Million Holdings in First Busey Co. (BUSE)
Schwab Charles Investment Management Inc. boosted its holdings in shares of First Busey Co. (NASDAQ:BUSE) by 22.9% in the third quarter, HoldingsChannel.com reports. The firm owned 191,130 shares of the bank’s stock after purchasing an additional 35,564 shares during the quarter. Schwab Charles Investment Management Inc.’s holdings in First Busey were worth $5,994,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Nordea Investment Management AB increased its holdings in shares of First Busey by 2.8% during the third quarter. Nordea Investment Management AB now owns 186,466 shares of the bank’s stock worth $5,848,000 after buying an additional 5,000 shares in the last quarter. Kennedy Capital Management Inc. increased its holdings in shares of First Busey by 11.1% during the second quarter. Kennedy Capital Management Inc. now owns 215,439 shares of the bank’s stock worth $6,317,000 after buying an additional 21,470 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of First Busey by 1.3% during the second quarter. Vanguard Group Inc. now owns 1,476,846 shares of the bank’s stock worth $43,301,000 after buying an additional 19,354 shares in the last quarter. TIAA CREF Investment Management LLC increased its holdings in shares of First Busey by 33.5% during the second quarter. TIAA CREF Investment Management LLC now owns 111,412 shares of the bank’s stock worth $3,267,000 after buying an additional 27,931 shares in the last quarter. Finally, Martingale Asset Management L P acquired a new stake in shares of First Busey during the second quarter worth approximately $3,855,000. Hedge funds and other institutional investors own 46.09% of the company’s stock.
Shares of First Busey Co. (NASDAQ BUSE) opened at $30.04 on Monday. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27. The firm has a market cap of $1,461.00, a P/E ratio of 19.63, a P/E/G ratio of 2.42 and a beta of 0.98. First Busey Co. has a fifty-two week low of $27.33 and a fifty-two week high of $32.88.
Several analysts have recently weighed in on BUSE shares. Zacks Investment Research raised shares of First Busey from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a report on Monday, October 2nd. FBR & Co reaffirmed a “neutral” rating and set a $34.00 price objective (up previously from $32.00) on shares of First Busey in a report on Wednesday, October 25th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $32.00 price objective on shares of First Busey in a report on Thursday, October 26th. ValuEngine lowered shares of First Busey from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, BidaskClub lowered shares of First Busey from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company’s stock. First Busey has a consensus rating of “Hold” and an average target price of $33.00.
In related news, Director George Barr sold 14,492 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $31.30, for a total value of $453,599.60. Following the completion of the sale, the director now owns 64,088 shares of the company’s stock, valued at $2,005,954.40. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company insiders own 9.60% of the company’s stock.
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First Busey Company Profile
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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