IndexIQ Advisors LLC Trims Position in First Busey Co. (BUSE)

IndexIQ Advisors LLC trimmed its holdings in First Busey Co. (NASDAQ:BUSE) by 7.5% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 70,719 shares of the bank’s stock after selling 5,770 shares during the period. IndexIQ Advisors LLC’s holdings in First Busey were worth $1,735,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of 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 buying an additional 712 shares during the last quarter. Bank of Montreal Can raised its holdings in shares of 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 buying an additional 3,129 shares during the last quarter. GSA Capital Partners LLP purchased a new stake in shares of First Busey in the third quarter valued at about $249,000. Meeder Asset Management Inc. raised its holdings in shares of First Busey by 131.1% in the third quarter. Meeder Asset Management Inc. now owns 8,068 shares of the bank’s stock valued at $251,000 after buying an additional 4,577 shares during the last quarter. Finally, WINTON GROUP Ltd raised its holdings in shares of 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 buying an additional 3,946 shares during the last quarter. 50.91% of the stock is owned by institutional investors and hedge funds.

Shares of First Busey stock opened at $25.73 on Monday. First Busey Co. has a 52-week low of $23.13 and a 52-week high of $33.25. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. The stock has a market cap of $1.26 billion, a PE ratio of 12.25, a PEG ratio of 1.89 and a beta of 1.03.

The company also recently declared a quarterly dividend, which was paid on Friday, February 1st. Stockholders of record on Friday, January 25th were paid a dividend of $0.21 per share. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.26%. This is a positive change from First Busey’s previous quarterly dividend of $0.20. The ex-dividend date of this dividend was Thursday, January 24th. First Busey’s payout ratio is 40.00%.

A number of equities research analysts have recently commented on the stock. Zacks Investment Research cut shares of First Busey from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. BidaskClub raised shares of First Busey from a “sell” rating to a “hold” rating in a report on Tuesday, October 30th. Finally, ValuEngine lowered shares of First Busey from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and four have issued a buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $30.75.

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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.

Further Reading: What is the balance sheet?

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

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