Stevens Capital Management LP Takes $293,000 Position in First Busey Corporation (BUSE)
Stevens Capital Management LP purchased a new stake in shares of First Busey Corporation (NASDAQ:BUSE) in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 9,979 shares of the bank’s stock, valued at approximately $293,000.
Other institutional investors and hedge funds have also modified their holdings of the company. BNP Paribas Arbitrage SA increased its position in First Busey Corporation by 799.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,460 shares of the bank’s stock worth $131,000 after buying an additional 3,964 shares during the last quarter. US Bancorp DE increased its position in First Busey Corporation by 5.5% in the first quarter. US Bancorp DE now owns 4,928 shares of the bank’s stock worth $145,000 after buying an additional 255 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new stake in First Busey Corporation in the second quarter worth $208,000. Victory Capital Management Inc. increased its position in First Busey Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,608 shares of the bank’s stock worth $223,000 after buying an additional 1,139 shares during the last quarter. Finally, Legal & General Group Plc increased its position in First Busey Corporation by 8.7% in the second quarter. Legal & General Group Plc now owns 7,995 shares of the bank’s stock worth $235,000 after buying an additional 639 shares during the last quarter. 45.83% of the stock is owned by institutional investors.
In other news, insider Curt A. Anderson sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $29.40, for a total value of $41,160.00. Following the completion of the sale, the insider now directly owns 43,482 shares in the company, valued at approximately $1,278,370.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 9.60% of the company’s stock.
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A number of research firms have issued reports on BUSE. Zacks Investment Research downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. BidaskClub downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Saturday, June 24th. Finally, Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has given a buy rating to the stock. First Busey Corporation presently has a consensus rating of “Hold” and a consensus price target of $32.00.
First Busey Corporation (BUSE) opened at 31.36 on Friday. The company has a market capitalization of $1.43 billion, a price-to-earnings ratio of 20.74 and a beta of 0.99. First Busey Corporation has a 12-month low of $21.80 and a 12-month high of $32.22. The stock has a 50 day moving average price of $28.92 and a 200-day moving average price of $29.28.
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, beating analysts’ consensus estimates of $0.42 by $0.01. The business had revenue of $62.43 million during the quarter, compared to analyst estimates of $63.40 million. First Busey Corporation had a net margin of 22.04% and a return on equity of 10.59%. Equities analysts predict that First Busey Corporation will post $1.74 EPS for the current fiscal year.
First Busey Corporation 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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