Metropolitan Life Insurance Co. NY Has $648,000 Stake in First Busey Corporation (BUSE)
Metropolitan Life Insurance Co. NY lowered its stake in First Busey Corporation (NASDAQ:BUSE) by 4.2% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 22,027 shares of the bank’s stock after selling 969 shares during the period. Metropolitan Life Insurance Co. NY owned 0.06% of First Busey Corporation worth $648,000 at the end of the most recent quarter.
Several other large investors have also recently added to or reduced their stakes in the company. 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 valued at $145,000 after buying an additional 255 shares in the last quarter. Stifel Financial Corp purchased a new stake in First Busey Corporation during the first quarter valued at about $299,000. MARSHALL WACE ASIA Ltd purchased a new stake in First Busey Corporation during the first quarter valued at about $341,000. Marshall Wace North America L.P. purchased a new stake in First Busey Corporation during the first quarter valued at about $341,000. Finally, Menta Capital LLC purchased a new stake in First Busey Corporation during the first quarter valued at about $351,000. 43.83% of the stock is currently owned by institutional investors.
Shares of First Busey Corporation (BUSE) traded down 1.14% on Monday, reaching $29.37. 13,318 shares of the company’s stock were exchanged. First Busey Corporation has a 12 month low of $21.80 and a 12 month high of $32.22. The company has a market capitalization of $1.12 billion, a P/E ratio of 19.42 and a beta of 0.99. The firm’s 50 day moving average price is $29.40 and its 200-day moving average price is $29.63.
First Busey Corporation (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.43 EPS 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 analysts’ expectations of $63.40 million. First Busey Corporation had a return on equity of 10.66% and a net margin of 22.04%. On average, equities analysts anticipate that First Busey Corporation will post $1.74 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Friday, July 28th. Investors of record on Friday, July 21st were paid a $0.18 dividend. The ex-dividend date of this dividend was Wednesday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 2.42%. First Busey Corporation’s payout ratio is 47.37%.
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BUSE has been the topic of several research analyst reports. Zacks Investment Research cut shares of First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. 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 report on Tuesday, July 25th. BidaskClub raised shares of First Busey Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $31.00 target price on shares of First Busey Corporation in a research report on Wednesday, April 26th. Finally, ValuEngine raised shares of First Busey Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. 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. The company presently has a consensus rating of “Hold” and a consensus target price of $32.00.
In related news, insider Curt A. Anderson sold 1,400 shares of the business’s 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 owns 43,482 shares of the company’s stock, valued at approximately $1,278,370.80. The sale was disclosed in a document filed with the SEC, which is available at this link. Insiders own 9.60% of the company’s stock.
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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