Nationwide Fund Advisors Reduces Position in First Busey Corp. (BUSE)
Nationwide Fund Advisors cut its position in shares of First Busey Corp. (NASDAQ:BUSE) by 35.8% during the second quarter, Holdings Channel reports. The institutional investor owned 92,060 shares of the company’s stock after selling 51,365 shares during the period. Nationwide Fund Advisors owned approximately 0.24% of First Busey Corp. worth $1,969,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. LSV Asset Management raised its position in shares of First Busey Corp. by 61.9% in the second quarter. LSV Asset Management now owns 279,999 shares of the company’s stock worth $5,989,000 after buying an additional 107,055 shares in the last quarter. Rice Hall James & Associates LLC purchased a new position in shares of First Busey Corp. during the second quarter worth $1,495,000. Emerald Acquisition Ltd. purchased a new position in shares of First Busey Corp. during the second quarter worth $1,139,000. California Public Employees Retirement System raised its position in shares of First Busey Corp. by 83.5% in the second quarter. California Public Employees Retirement System now owns 116,271 shares of the company’s stock worth $2,487,000 after buying an additional 52,895 shares in the last quarter. Finally, GSA Capital Partners LLP purchased a new position in shares of First Busey Corp. during the second quarter worth $957,000. 46.21% of the stock is currently owned by institutional investors and hedge funds.
Shares of First Busey Corp. (NASDAQ:BUSE) traded up 0.96% during trading on Friday, reaching $22.09. The company’s stock had a trading volume of 19,400 shares. The company has a 50 day moving average price of $22.89 and a 200 day moving average price of $21.95. The firm has a market capitalization of $843.93 million, a P/E ratio of 15.35 and a beta of 0.92. First Busey Corp. has a 52 week low of $17.68 and a 52 week high of $24.02.
First Busey Corp. (NASDAQ:BUSE) last announced its quarterly earnings results on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. First Busey Corp. had a return on equity of 10.66% and a net margin of 22.23%. On average, equities research analysts expect that First Busey Corp. will post $1.52 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 28th. Stockholders of record on Friday, October 21st will be issued a $0.17 dividend. This represents a $0.68 annualized dividend and a dividend yield of 3.11%. The ex-dividend date of this dividend is Wednesday, October 19th. First Busey Corp.’s payout ratio is currently 47.55%.
BUSE has been the topic of a number of research reports. Zacks Investment Research lowered First Busey Corp. from a “hold” rating to a “sell” rating in a report on Monday, October 3rd. Keefe, Bruyette & Woods raised their target price on First Busey Corp. from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company. First Busey Corp. has a consensus rating of “Hold” and a consensus target price of $22.83.
In other news, Director Stanley J. Bradshaw bought 1,603 shares of First Busey Corp. stock in a transaction dated Friday, July 29th. The stock was acquired at an average cost of $22.97 per share, with a total value of $36,820.91. Following the acquisition, the director now owns 1,250 shares of the company’s stock, valued at $28,712.50. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. 11.50% of the stock is owned by insiders.
First Busey Corp. 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 at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.
Want to see what other hedge funds are holding BUSE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for First Busey Corp. (NASDAQ:BUSE).
Receive News & Ratings for First Busey Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Busey Corp. and related companies with MarketBeat.com's FREE daily email newsletter.