Summit Securities Group LLC Purchases Shares of 14,999 First Busey Corporation (BUSE)
Summit Securities Group LLC purchased a new position in shares of First Busey Corporation (NASDAQ:BUSE) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 14,999 shares of the bank’s stock, valued at approximately $440,000.
Several other hedge funds have also recently added to or reduced their stakes in the stock. US Bancorp DE boosted its stake 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 in the last quarter. Stifel Financial Corp bought a new stake in First Busey Corporation during the first quarter worth approximately $299,000. Quantitative Systematic Strategies LLC bought a new stake in First Busey Corporation during the second quarter worth approximately $330,000. MARSHALL WACE ASIA Ltd bought a new stake in First Busey Corporation during the first quarter worth approximately $341,000. Finally, Marshall Wace North America L.P. bought a new stake in First Busey Corporation during the first quarter worth approximately $341,000. Institutional investors and hedge funds own 43.83% of the company’s stock.
Shares of First Busey Corporation (NASDAQ BUSE) opened at 28.51 on Friday. The firm has a market capitalization of $1.09 billion, a PE ratio of 18.86 and a beta of 0.99. The company has a 50-day moving average of $29.30 and a 200-day moving average of $29.59. First Busey Corporation has a 1-year low of $21.80 and a 1-year high of $32.22.
First Busey Corporation (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, July 25th. The bank reported $0.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The business had revenue of $62.43 million during the quarter, compared to the consensus estimate of $63.40 million. First Busey Corporation had a return on equity of 10.59% and a net margin of 22.04%. Equities research analysts predict that First Busey Corporation will post $1.74 EPS for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 21st were issued a $0.18 dividend. This represents a $0.72 annualized dividend and a dividend yield of 2.53%. The ex-dividend date of this dividend was Wednesday, July 19th. First Busey Corporation’s payout ratio is currently 47.37%.
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BUSE has been the subject of a number of recent analyst reports. ValuEngine upgraded shares of First Busey Corporation from a “hold” rating to a “buy” rating in a research note on Friday, June 2nd. BidaskClub upgraded shares of First Busey Corporation from a “sell” rating to a “hold” rating in a research note on Saturday, June 10th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $31.00 target price on shares of First Busey Corporation in a research note on Wednesday, April 26th. Zacks Investment Research upgraded shares of First Busey Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, Piper Jaffray Companies set a $32.00 target price on shares of First Busey Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus target price of $32.00.
In other news, insider Curt A. Anderson sold 1,400 shares of the stock in a transaction that occurred 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 of the company’s stock, valued at $1,278,370.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is currently owned by corporate insiders.
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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