Bessemer Group Inc. lifted its holdings in shares of First Busey Corporation (NASDAQ:BUSE) by 48.0% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 59,800 shares of the bank’s stock after buying an additional 19,400 shares during the quarter. Bessemer Group Inc. owned approximately 0.13% of First Busey Corporation worth $1,875,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in the company. US Bancorp DE raised its stake in shares of 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 buying an additional 23 shares during the period. Legal & General Group Plc raised its stake in First Busey Corporation by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 7,995 shares of the bank’s stock valued at $235,000 after purchasing an additional 639 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in First Busey Corporation by 3.3% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,480 shares of the bank’s stock valued at $718,000 after purchasing an additional 787 shares during the last quarter. Victory Capital Management Inc. raised its stake in First Busey Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,608 shares of the bank’s stock valued at $223,000 after purchasing an additional 1,139 shares during the last quarter. Finally, Nordea Investment Management AB raised its stake in First Busey Corporation by 0.8% in the 2nd quarter. Nordea Investment Management AB now owns 181,466 shares of the bank’s stock valued at $5,321,000 after purchasing an additional 1,500 shares during the last quarter. 45.77% of the stock is owned by institutional investors and hedge funds.
Several research analysts recently commented on BUSE shares. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $32.00 price objective on shares of First Busey Corporation in a research note on Thursday, October 26th. Zacks Investment Research raised First Busey Corporation from a “hold” rating to a “buy” rating and set a $35.00 price objective for the company in a research note on Monday, October 2nd. Piper Jaffray Companies set a $32.00 price objective on First Busey Corporation and gave the company a “hold” rating in a research note on Tuesday, July 25th. FBR & Co reissued a “neutral” rating and issued a $34.00 price objective (up from $32.00) on shares of First Busey Corporation in a research note on Wednesday, October 25th. Finally, BidaskClub downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One analyst has rated the stock with a sell rating and five have given a hold rating to the company. First Busey Corporation presently has an average rating of “Hold” and an average target price of $33.25.
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First Busey Corporation (NASDAQ:BUSE) opened at $29.90 on Tuesday. First Busey Corporation has a 52 week low of $25.61 and a 52 week high of $32.44. 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 company has a market capitalization of $1,438.13, a price-to-earnings ratio of 17.39, a P/E/G ratio of 2.88 and a beta of 0.99.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 20th were paid a $0.18 dividend. This represents a $0.72 annualized dividend and a yield of 2.41%. The ex-dividend date was Thursday, October 19th. First Busey Corporation’s dividend payout ratio is currently 47.06%.
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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