Campbell & CO Investment Adviser LLC Acquires New Holdings in First Busey Co. (NASDAQ:BUSE)

Campbell & CO Investment Adviser LLC bought a new position in First Busey Co. (NASDAQ:BUSE) during the 3rd quarter, HoldingsChannel reports. The firm bought 21,747 shares of the bank’s stock, valued at approximately $346,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Wellington Management Group LLP grew its holdings in shares of First Busey by 1.9% in the 1st quarter. Wellington Management Group LLP now owns 2,687,514 shares of the bank’s stock valued at $45,983,000 after buying an additional 50,195 shares during the period. Vanguard Group Inc. grew its stake in First Busey by 0.6% in the second quarter. Vanguard Group Inc. now owns 2,564,048 shares of the bank’s stock valued at $47,820,000 after acquiring an additional 16,468 shares during the period. State Street Corp increased its holdings in shares of First Busey by 0.8% in the first quarter. State Street Corp now owns 1,111,532 shares of the bank’s stock worth $19,018,000 after acquiring an additional 9,228 shares in the last quarter. LSV Asset Management raised its position in shares of First Busey by 249.0% during the second quarter. LSV Asset Management now owns 948,914 shares of the bank’s stock worth $17,697,000 after purchasing an additional 676,982 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of First Busey by 9.4% during the 1st quarter. Geode Capital Management LLC now owns 769,671 shares of the bank’s stock valued at $13,168,000 after purchasing an additional 65,832 shares in the last quarter. 46.82% of the stock is currently owned by institutional investors.

In other First Busey news, Director Stephen V. King bought 27,058 shares of First Busey stock in a transaction dated Friday, August 14th. The stock was bought at an average price of $18.44 per share, with a total value of $498,949.52. Following the completion of the transaction, the director now owns 12,936 shares in the company, valued at approximately $238,539.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Stanley J. Bradshaw purchased 2,100 shares of the firm’s stock in a transaction that occurred on Friday, July 31st. The stock was acquired at an average price of $16.80 per share, for a total transaction of $35,280.00. Following the completion of the purchase, the director now directly owns 9,491 shares of the company’s stock, valued at approximately $159,448.80. The disclosure for this purchase can be found here. Insiders have acquired 30,358 shares of company stock valued at $554,030 over the last 90 days. Company insiders own 7.50% of the company’s stock.

Several brokerages have commented on BUSE. Raymond James restated a “hold” rating on shares of First Busey in a report on Friday, August 14th. BidaskClub cut shares of First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday, September 15th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a report on Monday, October 12th. Finally, ValuEngine downgraded First Busey from a “hold” rating to a “sell” rating in a research note on Monday, August 3rd. Two equities research analysts have rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $25.50.

First Busey stock opened at $17.49 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. First Busey Co. has a 1-year low of $11.00 and a 1-year high of $28.00. The company has a fifty day simple moving average of $17.02 and a 200 day simple moving average of $17.33. The company has a market cap of $953.49 million, a P/E ratio of 10.17 and a beta of 1.17.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, July 28th. The bank reported $0.47 EPS for the quarter, beating analysts’ consensus estimates of $0.26 by $0.21. The firm had revenue of $98.78 million during the quarter, compared to analysts’ expectations of $98.26 million. First Busey had a net margin of 20.37% and a return on equity of 8.51%. On average, equities research analysts forecast that First Busey Co. will post 1.61 EPS for the current year.

The business also recently declared a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be issued a $0.22 dividend. The ex-dividend date is Thursday, October 22nd. This represents a $0.88 annualized dividend and a yield of 5.03%. First Busey’s dividend payout ratio is currently 40.93%.

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.

Further Reading: Trading Ex-Dividend

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

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