Los Angeles Capital Management & Equity Research Inc. trimmed its position in First Busey Co. (NASDAQ:BUSE) by 48.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,888 shares of the bank’s stock after selling 9,399 shares during the period. Los Angeles Capital Management & Equity Research Inc.’s holdings in First Busey were worth $243,000 at the end of the most recent reporting period.
Other large investors have also recently bought and sold shares of the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Busey by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,945 shares of the bank’s stock valued at $72,000 after acquiring an additional 712 shares during the period. Bank of Montreal Can boosted its stake in First Busey by 80.6% in the fourth quarter. Bank of Montreal Can now owns 7,011 shares of the bank’s stock valued at $172,000 after acquiring an additional 3,129 shares during the period. GSA Capital Partners LLP acquired a new position in First Busey in the third quarter valued at approximately $249,000. PNC Financial Services Group Inc. boosted its stake in First Busey by 581.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,842 shares of the bank’s stock valued at $292,000 after acquiring an additional 10,105 shares during the period. Finally, WINTON GROUP Ltd boosted its stake in First Busey by 45.1% in the third quarter. WINTON GROUP Ltd now owns 12,695 shares of the bank’s stock valued at $394,000 after acquiring an additional 3,946 shares during the period. Institutional investors and hedge funds own 50.66% of the company’s stock.
A number of equities analysts have commented on the company. BidaskClub downgraded First Busey from a “hold” rating to a “sell” rating in a research note on Tuesday, December 4th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. Three research analysts have rated the stock with a sell rating, one has given a hold rating and four have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $30.75.
First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, January 29th. The bank reported $0.53 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). The business had revenue of $83.36 million for the quarter, compared to the consensus estimate of $84.54 million. First Busey had a net margin of 26.31% and a return on equity of 10.70%. On average, analysts predict that First Busey Co. will post 2.25 earnings per share for the current fiscal year.
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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.
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