ClariVest Asset Management LLC cut its position in First Busey Corp. (NASDAQ:BUSE) by 19.4% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 124,917 shares of the company’s stock after selling 30,029 shares during the period. ClariVest Asset Management LLC’s holdings in First Busey Corp. were worth $2,672,000 as of its most recent filing with the SEC.
Other hedge funds have also bought and sold shares of the company. 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. Contravisory Investment Management Inc. acquired a new stake in First Busey Corp. during the second quarter worth $222,000. Barclays PLC increased its stake in First Busey Corp. by 4.7% in the first quarter. Barclays PLC now owns 15,552 shares of the company’s stock worth $311,000 after buying an additional 704 shares during the period. 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. Finally, Metropolitan Life Insurance Co. NY increased its stake in First Busey Corp. by 3.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,290 shares of the company’s stock worth $375,000 after buying an additional 665 shares during the period. Hedge funds and other institutional investors own 46.21% of the company’s stock.
First Busey Corp. (NASDAQ:BUSE) traded up 0.158% during midday trading on Monday, reaching $22.175. 51,743 shares of the company’s stock traded hands. First Busey Corp. has a 1-year low of $17.68 and a 1-year high of $24.02. The firm’s 50-day moving average is $23.05 and its 200-day moving average is $21.92. The company has a market capitalization of $847.17 million, a price-to-earnings ratio of 15.410 and a beta of 0.92.
First Busey Corp. (NASDAQ:BUSE) last released 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 return on equity of 10.66% and a net margin of 22.23%. Analysts forecast that First Busey Corp. will post $1.52 earnings per share for the current year.
BUSE has been the subject of a number of recent analyst reports. Zacks Investment Research raised shares of First Busey Corp. from a “hold” rating to a “buy” rating and set a $25.00 price target for the company in a research note on Tuesday, August 2nd. Keefe, Bruyette & Woods lifted their price target on shares of First Busey Corp. from $22.00 to $23.00 and gave the stock a “market perform” rating in a research note on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus target price of $22.83.
In related news, Director Stanley J. Bradshaw bought 1,603 shares of the stock in a transaction on Friday, July 29th. The stock was bought at an average price of $22.97 per share, with a total value of $36,820.91. Following the completion of the purchase, the director now directly owns 1,250 shares in the company, valued at approximately $28,712.50. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate 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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