Commonwealth Equity Services LLC Cuts Position in First Busey Co. (NASDAQ:BUSE)

Commonwealth Equity Services LLC lessened its position in shares of First Busey Co. (NASDAQ:BUSE) by 2.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,679 shares of the bank’s stock after selling 679 shares during the quarter. Commonwealth Equity Services LLC’s holdings in First Busey were worth $573,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Tower Research Capital LLC TRC purchased a new position in shares of First Busey in the 2nd quarter worth approximately $43,000. Quantamental Technologies LLC purchased a new position in shares of First Busey in the 2nd quarter worth approximately $52,000. Centric Wealth Management purchased a new position in shares of First Busey in the 2nd quarter worth approximately $206,000. A.R.T. Advisors LLC purchased a new position in shares of First Busey in the 2nd quarter worth approximately $210,000. Finally, Bailard Inc. purchased a new position in shares of First Busey in the 2nd quarter worth approximately $228,000. Institutional investors and hedge funds own 47.75% of the company’s stock.

In other First Busey news, Director David J. Downey acquired 7,500 shares of the company’s stock in a transaction that occurred on Tuesday, August 27th. The stock was bought at an average price of $24.06 per share, for a total transaction of $180,450.00. Following the acquisition, the director now directly owns 189,949 shares in the company, valued at $4,570,172.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 7.50% of the stock is owned by insiders.

Shares of First Busey stock opened at $26.54 on Tuesday. The stock has a 50 day moving average price of $25.81 and a 200-day moving average price of $25.68. First Busey Co. has a one year low of $23.13 and a one year high of $28.98. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.87 and a current ratio of 0.88. The stock has a market cap of $1.47 billion, a price-to-earnings ratio of 12.64 and a beta of 1.00.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.07). First Busey had a net margin of 22.18% and a return on equity of 9.79%. The business had revenue of $104.41 million for the quarter, compared to analysts’ expectations of $103.17 million. Sell-side analysts predict that First Busey Co. will post 2.1 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, October 25th. Investors of record on Friday, October 18th were issued a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a yield of 3.17%. The ex-dividend date of this dividend was Thursday, October 17th. First Busey’s payout ratio is currently 40.00%.

A number of equities analysts have recently commented on BUSE shares. Zacks Investment Research cut First Busey from a “hold” rating to a “sell” rating in a report on Monday, October 14th. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a report on Wednesday, October 23rd. ValuEngine upgraded First Busey from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Finally, B. Riley dropped their target price on First Busey from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, October 4th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. First Busey has an average rating of “Hold” and a consensus price target of $28.33.

First Busey 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.

Read More: What is a good rate of return for a mutual fund?

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 Co. (NASDAQ:BUSE).

Institutional Ownership by Quarter for First Busey (NASDAQ:BUSE)

Receive News & Ratings for First Busey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Busey and related companies with MarketBeat.com's FREE daily email newsletter.