California Public Employees Retirement System boosted its holdings in shares of First Busey Co. (NASDAQ:BUSE) by 3.5% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 71,171 shares of the bank’s stock after purchasing an additional 2,407 shares during the quarter. California Public Employees Retirement System owned approximately 0.15% of First Busey worth $2,258,000 at the end of the most recent quarter.
A number of other hedge funds have also bought and sold shares of BUSE. Schwab Charles Investment Management Inc. grew its position in shares of First Busey by 10.7% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 227,113 shares of the bank’s stock worth $7,205,000 after acquiring an additional 21,937 shares in the last quarter. State Board of Administration of Florida Retirement System grew its position in shares of First Busey by 24.5% in the 2nd quarter. State Board of Administration of Florida Retirement System now owns 21,717 shares of the bank’s stock worth $689,000 after acquiring an additional 4,276 shares in the last quarter. BlackRock Inc. grew its position in shares of First Busey by 10.5% in the 2nd quarter. BlackRock Inc. now owns 2,812,785 shares of the bank’s stock worth $89,220,000 after acquiring an additional 268,011 shares in the last quarter. WINTON GROUP Ltd acquired a new position in shares of First Busey in the 1st quarter worth approximately $653,000. Finally, Rhumbline Advisers grew its position in shares of First Busey by 10.1% in the 2nd quarter. Rhumbline Advisers now owns 49,540 shares of the bank’s stock worth $1,571,000 after acquiring an additional 4,547 shares in the last quarter. Institutional investors own 51.71% of the company’s stock.
Several brokerages have recently commented on BUSE. BidaskClub lowered First Busey from a “buy” rating to a “hold” rating in a research report on Friday, July 27th. ValuEngine lowered First Busey from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Zacks Investment Research upgraded First Busey from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, October 24th. Finally, B. Riley set a $36.00 target price on First Busey and gave the stock a “buy” rating in a research report on Monday, October 15th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.33.
First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. First Busey had a return on equity of 10.36% and a net margin of 23.02%. The business had revenue of $82.63 million during the quarter, compared to analyst estimates of $85.16 million. Equities analysts expect that First Busey Co. will post 2.14 EPS for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 19th were given a dividend of $0.20 per share. The ex-dividend date was Thursday, October 18th. This represents a $0.80 dividend on an annualized basis and a yield of 2.86%. First Busey’s dividend payout ratio is currently 49.69%.
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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