State Board of Administration of Florida Retirement System lifted its holdings in shares of First Busey Co. (NASDAQ:BUSE) by 24.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 21,717 shares of the bank’s stock after buying an additional 4,276 shares during the period. State Board of Administration of Florida Retirement System’s holdings in First Busey were worth $689,000 at the end of the most recent reporting period.
Several other large investors have also made changes to their positions in BUSE. SG Americas Securities LLC boosted its holdings in shares of First Busey by 83.8% in the first quarter. SG Americas Securities LLC now owns 6,477 shares of the bank’s stock valued at $192,000 after acquiring an additional 2,953 shares in the last quarter. Virginia Retirement Systems ET AL bought a new position in shares of First Busey in the second quarter valued at approximately $209,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of First Busey in the first quarter valued at approximately $208,000. Quantitative Systematic Strategies LLC bought a new position in shares of First Busey in the first quarter valued at approximately $230,000. Finally, Victory Capital Management Inc. boosted its holdings in shares of First Busey by 47.3% in the first quarter. Victory Capital Management Inc. now owns 13,307 shares of the bank’s stock valued at $395,000 after acquiring an additional 4,270 shares in the last quarter. 49.38% of the stock is owned by institutional investors and hedge funds.
Several research analysts have recently issued reports on the stock. BidaskClub cut shares of First Busey from a “buy” rating to a “hold” rating in a report on Friday, July 27th. Keefe, Bruyette & Woods upgraded shares of First Busey from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 16th. B. Riley increased their price objective on shares of First Busey from $35.00 to $36.00 and gave the company a “buy” rating in a report on Tuesday, June 19th. Zacks Investment Research upgraded shares of First Busey from a “sell” rating to a “hold” rating in a report on Monday, May 28th. Finally, FIG Partners reissued an “outperform” rating on shares of First Busey in a research note on Wednesday, July 25th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. The company has an average rating of “Hold” and an average price target of $33.80.
BUSE stock opened at $32.08 on Wednesday. First Busey Co. has a 12 month low of $27.33 and a 12 month high of $33.25. The company has a market cap of $1.56 billion, a P/E ratio of 16.96, a price-to-earnings-growth ratio of 2.50 and a beta of 0.99. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.
First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, July 24th. The bank reported $0.51 EPS for the quarter, missing the consensus estimate of $0.53 by ($0.02). First Busey had a net margin of 21.51% and a return on equity of 9.97%. The business had revenue of $83.17 million for the quarter, compared to analyst estimates of $84.85 million. equities analysts predict that First Busey Co. will post 2.14 earnings per share for the current fiscal year.
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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