Xact Kapitalforvaltning AB Buys New Stake in First Busey Co. (BUSE)

Xact Kapitalforvaltning AB bought a new stake in shares of First Busey Co. (NASDAQ:BUSE) during the 4th quarter, HoldingsChannel reports. The institutional investor bought 7,995 shares of the bank’s stock, valued at approximately $239,000.

Several other institutional investors have also made changes to their positions in BUSE. Legal & General Group Plc boosted its holdings in First Busey by 24.0% in the third quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock worth $311,000 after acquiring an additional 1,918 shares in the last quarter. American International Group Inc. boosted its holdings in First Busey by 7.9% in the fourth quarter. American International Group Inc. now owns 27,442 shares of the bank’s stock worth $822,000 after acquiring an additional 2,005 shares in the last quarter. Geode Capital Management LLC boosted its holdings in First Busey by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 406,736 shares of the bank’s stock worth $12,177,000 after acquiring an additional 2,216 shares in the last quarter. The Manufacturers Life Insurance Company boosted its holdings in First Busey by 8.0% in the fourth quarter. The Manufacturers Life Insurance Company now owns 29,994 shares of the bank’s stock worth $899,000 after acquiring an additional 2,233 shares in the last quarter. Finally, California State Teachers Retirement System boosted its holdings in First Busey by 5.2% in the third quarter. California State Teachers Retirement System now owns 60,585 shares of the bank’s stock worth $1,900,000 after acquiring an additional 3,004 shares in the last quarter. Institutional investors own 47.16% of the company’s stock.

Several research analysts have issued reports on BUSE shares. BidaskClub lowered First Busey from a “hold” rating to a “sell” rating in a report on Saturday, December 30th. Zacks Investment Research upgraded First Busey from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, January 1st. Piper Jaffray reiterated a “hold” rating and issued a $33.00 price target on shares of First Busey in a report on Tuesday, January 9th. Finally, B. Riley upgraded First Busey from a “neutral” rating to a “buy” rating and cut their price target for the stock from $36.00 to $35.00 in a report on Tuesday, February 6th. Six analysts have rated the stock with a hold rating and one has issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $33.60.

Shares of First Busey stock opened at $30.20 on Monday. The company has a market capitalization of $1,471.00, a PE ratio of 17.76, a P/E/G ratio of 2.24 and a beta of 1.04. First Busey Co. has a 52 week low of $27.33 and a 52 week high of $32.88. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.87.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $82.39 million. First Busey had a return on equity of 9.84% and a net margin of 20.31%. equities research analysts predict that First Busey Co. will post 2.25 earnings per share for the current fiscal year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 20th will be paid a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. The ex-dividend date is Thursday, April 19th. First Busey’s dividend payout ratio (DPR) is presently 49.69%.

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About First Busey

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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