First Financial Corp IN Holds Position in First Busey Co. (BUSE)
First Financial Corp IN held its stake in shares of First Busey Co. (NASDAQ:BUSE) during the first quarter, Holdings Channel reports. The firm owned 5,335 shares of the bank’s stock at the end of the first quarter. First Financial Corp IN’s holdings in First Busey were worth $157,000 as of its most recent SEC filing.
Several other large investors have also recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of First Busey by 64.0% in the fourth quarter. AQR Capital Management LLC now owns 106,808 shares of the bank’s stock worth $3,287,000 after buying an additional 41,671 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of First Busey by 3.2% in the fourth quarter. Dimensional Fund Advisors LP now owns 1,625,983 shares of the bank’s stock worth $50,048,000 after buying an additional 50,013 shares during the last quarter. Zebra Capital Management LLC increased its position in shares of First Busey by 3.9% in the fourth quarter. Zebra Capital Management LLC now owns 36,448 shares of the bank’s stock worth $1,122,000 after buying an additional 1,377 shares during the last quarter. Russell Investments Group Ltd. bought a new position in shares of First Busey during the fourth quarter worth approximately $1,286,000. Finally, Shell Asset Management Co. bought a new position in shares of First Busey during the third quarter worth approximately $1,090,000. Institutional investors and hedge funds own 47.87% of the company’s stock.
First Busey Co. (NASDAQ:BUSE) traded up 0.98% on Tuesday, hitting $28.79. The stock had a trading volume of 123,565 shares. First Busey Co. has a 1-year low of $19.75 and a 1-year high of $31.91. The firm’s 50-day moving average price is $29.56 and its 200-day moving average price is $28.08. The firm has a market cap of $1.10 billion, a P/E ratio of 20.56 and a beta of 0.86.
The company also recently disclosed a quarterly dividend, which will be paid on Friday, April 28th. Shareholders of record on Friday, April 21st will be given a $0.18 dividend. The ex-dividend date is Wednesday, April 19th. This represents a $0.72 dividend on an annualized basis and a dividend yield of 2.50%. First Busey’s dividend payout ratio is currently 51.06%.
Several research analysts have recently issued reports on BUSE shares. Piper Jaffray Companies started coverage on First Busey in a research note on Thursday, January 12th. They issued a “neutral” rating and a $32.00 price target for the company. FBR & Co cut First Busey from an “outperform” rating to a “market perform” rating and increased their price target for the stock from $28.00 to $32.00 in a research note on Tuesday, December 20th. Finally, Zacks Investment Research cut First Busey from a “buy” rating to a “hold” rating in a research note on Monday, March 6th.
About First Busey
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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