Moneta Group Investment Advisors LLC raised its stake in shares of First Busey Co. (NASDAQ:BUSE) by 405.8% during the second quarter, HoldingsChannel reports. The firm owned 19,980 shares of the bank’s stock after buying an additional 16,030 shares during the period. Moneta Group Investment Advisors LLC’s holdings in First Busey were worth $634,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. BlackRock Inc. boosted its holdings in First Busey by 10.5% during the second quarter. BlackRock Inc. now owns 2,812,785 shares of the bank’s stock valued at $89,220,000 after purchasing an additional 268,011 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in First Busey by 4.4% during the second quarter. Dimensional Fund Advisors LP now owns 2,014,042 shares of the bank’s stock valued at $63,886,000 after purchasing an additional 85,184 shares in the last quarter. Nuveen Asset Management LLC boosted its holdings in First Busey by 18.5% during the first quarter. Nuveen Asset Management LLC now owns 1,116,471 shares of the bank’s stock valued at $33,182,000 after purchasing an additional 174,531 shares in the last quarter. Renaissance Technologies LLC boosted its holdings in First Busey by 11.1% during the second quarter. Renaissance Technologies LLC now owns 714,425 shares of the bank’s stock valued at $22,662,000 after purchasing an additional 71,100 shares in the last quarter. Finally, Millennium Management LLC boosted its holdings in First Busey by 84.9% during the first quarter. Millennium Management LLC now owns 492,388 shares of the bank’s stock valued at $14,634,000 after purchasing an additional 226,143 shares in the last quarter. 49.38% of the stock is currently owned by institutional investors.
NASDAQ:BUSE opened at $31.34 on Friday. First Busey Co. has a 1 year low of $28.34 and a 1 year high of $33.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.87. The company has a market capitalization of $1.54 billion, a PE ratio of 19.47, a PEG ratio of 2.46 and a beta of 0.99.
First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, July 24th. The bank reported $0.51 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.53 by ($0.02). First Busey had a net margin of 21.51% and a return on equity of 9.97%. The firm had revenue of $83.17 million during the quarter, compared to the consensus estimate of $84.85 million. sell-side analysts anticipate that First Busey Co. will post 2.14 EPS for the current year.
A number of equities research analysts have weighed in on the company. Zacks Investment Research raised First Busey from a “sell” rating to a “hold” rating in a report on Tuesday, July 31st. BidaskClub downgraded First Busey from a “buy” rating to a “hold” rating in a report on Friday, July 27th. FIG Partners reaffirmed an “outperform” rating on shares of First Busey in a report on Wednesday, July 25th. B. Riley lifted their price objective on First Busey from $35.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Finally, Keefe, Bruyette & Woods raised First Busey from a “market perform” rating to an “outperform” rating in a report on Thursday, May 31st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $33.80.
First Busey Company Profile
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
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