Quantamental Technologies LLC Takes Position in First Busey Co. (NASDAQ:BUSE)

Quantamental Technologies LLC purchased a new stake in First Busey Co. (NASDAQ:BUSE) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 1,955 shares of the bank’s stock, valued at approximately $52,000.

Several other institutional investors and hedge funds also recently bought and sold shares of BUSE. Northwestern Mutual Wealth Management Co. boosted its stake in shares of First Busey by 474.7% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 6,960 shares of the bank’s stock valued at $170,000 after purchasing an additional 5,749 shares in the last quarter. Centric Wealth Management acquired a new stake in shares of First Busey in the 2nd quarter valued at approximately $206,000. BNP Paribas Arbitrage SA boosted its stake in shares of First Busey by 406.7% in the 1st quarter. BNP Paribas Arbitrage SA now owns 9,101 shares of the bank’s stock valued at $222,000 after purchasing an additional 7,305 shares in the last quarter. Bailard Inc. acquired a new stake in shares of First Busey in the 2nd quarter valued at approximately $228,000. Finally, SG Americas Securities LLC acquired a new stake in shares of First Busey in the 1st quarter valued at approximately $244,000. Institutional investors own 48.74% of the company’s stock.

A number of research firms have recently weighed in on BUSE. B. Riley downgraded shares of First Busey from a “buy” rating to a “neutral” rating and reduced their price target for the company from $30.00 to $28.00 in a research note on Wednesday, August 21st. ValuEngine upgraded shares of First Busey from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research upgraded shares of First Busey from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. BidaskClub lowered shares of First Busey from a “hold” rating to a “sell” rating in a report on Friday, September 6th. Finally, Stephens lowered shares of First Busey from an “overweight” rating to an “equal weight” rating and dropped their price objective for the company from $30.00 to $29.00 in a report on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating and five have issued a hold rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $29.25.

First Busey stock traded up $0.47 during mid-day trading on Friday, hitting $26.29. 2,525 shares of the stock were exchanged, compared to its average volume of 111,752. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.22. First Busey Co. has a 12 month low of $23.13 and a 12 month high of $31.76. The firm’s fifty day simple moving average is $25.24 and its two-hundred day simple moving average is $25.63. The stock has a market capitalization of $1.39 billion, a price-to-earnings ratio of 12.52, a PEG ratio of 2.03 and a beta of 1.02.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, July 23rd. The bank reported $0.53 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.52 by $0.01. First Busey had a net margin of 24.14% and a return on equity of 10.01%. The firm had revenue of $101.32 million during the quarter, compared to analyst estimates of $102.67 million. As a group, analysts forecast that First Busey Co. will post 2.07 earnings per share for the current fiscal year.

In other news, Director David J. Downey purchased 7,500 shares of the stock in a transaction on Tuesday, August 27th. The stock was purchased at an average price of $24.06 per share, for a total transaction of $180,450.00. Following the acquisition, the director now owns 189,949 shares in the company, valued at $4,570,172.94. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.50% of the stock is currently owned by company insiders.

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.

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

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