California Public Employees Retirement System increased its position in shares of First Busey Corp. (NASDAQ:BUSE) by 83.5% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 116,271 shares of the company’s stock after buying an additional 52,895 shares during the period. California Public Employees Retirement System owned about 0.30% of First Busey Corp. worth $2,487,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in the stock. Rice Hall James & Associates LLC acquired a new stake in First Busey Corp. during the second quarter worth $1,495,000. Emerald Acquisition Ltd. acquired a new stake in First Busey Corp. during the second quarter worth $1,139,000. Skyline Asset Management LP increased its stake in First Busey Corp. by 4.2% in the first quarter. Skyline Asset Management LP now owns 1,040,870 shares of the company’s stock worth $21,317,000 after buying an additional 41,955 shares during the period. Emerald Mutual Fund Advisers Trust acquired a new stake in First Busey Corp. during the second quarter worth $771,000. Finally, American Century Companies Inc. increased its stake in First Busey Corp. by 47.7% in the second quarter. American Century Companies Inc. now owns 73,254 shares of the company’s stock worth $1,567,000 after buying an additional 23,658 shares during the period. Institutional investors own 46.21% of the company’s stock.
First Busey Corp. (NASDAQ:BUSE) traded up 0.58% during midday trading on Friday, reaching $22.60. 122,475 shares of the company’s stock traded hands. The firm’s 50-day moving average is $23.27 and its 200-day moving average is $21.85. First Busey Corp. has a 1-year low of $17.68 and a 1-year high of $24.02. The company has a market capitalization of $863.41 million, a price-to-earnings ratio of 15.71 and a beta of 0.97.
First Busey Corp. (NASDAQ:BUSE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by $0.02. First Busey Corp. had a net margin of 22.23% and a return on equity of 10.66%. Analysts forecast that First Busey Corp. will post $1.52 earnings per share for the current year.
A number of analysts have recently weighed in on BUSE shares. Keefe, Bruyette & Woods boosted their target price on shares of First Busey Corp. from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Zacks Investment Research upgraded shares of First Busey Corp. from a “hold” rating to a “buy” rating and set a $25.00 price target on the stock in a report on Tuesday, August 2nd. Three research analysts have rated the stock with a hold rating and four have given a buy rating to the stock. The company has an average rating of “Buy” and a consensus target price of $22.83.
In related news, Director Stanley J. Bradshaw acquired 1,603 shares of the firm’s stock in a transaction on Friday, July 29th. The shares were acquired at an average cost of $22.97 per share, with a total value of $36,820.91. Following the completion of the acquisition, the director now directly owns 1,250 shares in the company, valued at approximately $28,712.50. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Company insiders own 11.50% of the company’s stock.
About First Busey Corp.
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 at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.
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