First Busey Co. (NASDAQ:BUSE) Shares Sold by MPS Loria Financial Planners LLC

MPS Loria Financial Planners LLC reduced its stake in First Busey Co. (NASDAQ:BUSE) by 6.2% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 59,828 shares of the bank’s stock after selling 3,952 shares during the period. First Busey accounts for about 1.0% of MPS Loria Financial Planners LLC’s investment portfolio, making the stock its 15th biggest holding. MPS Loria Financial Planners LLC owned about 0.11% of First Busey worth $1,580,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently modified their holdings of the business. Legal & General Group Plc boosted its holdings in First Busey by 10.3% in the fourth quarter. Legal & General Group Plc now owns 7,893 shares of the bank’s stock valued at $194,000 after acquiring an additional 738 shares during the last quarter. Meeder Asset Management Inc. boosted its stake in First Busey by 7.8% in the first quarter. Meeder Asset Management Inc. now owns 8,694 shares of the bank’s stock valued at $212,000 after acquiring an additional 626 shares during the period. Cozad Asset Management Inc. boosted its stake in First Busey by 39.1% in the first quarter. Cozad Asset Management Inc. now owns 38,301 shares of the bank’s stock valued at $935,000 after acquiring an additional 10,772 shares during the period. Strs Ohio acquired a new position in First Busey in the first quarter valued at approximately $224,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in First Busey in the first quarter valued at approximately $686,000. Institutional investors own 46.73% of the company’s stock.

Shares of NASDAQ BUSE traded down $0.23 during midday trading on Monday, hitting $25.26. 1,287 shares of the company’s stock were exchanged, compared to its average volume of 118,611. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.85 and a current ratio of 0.86. The business’s 50 day moving average is $26.19. The stock has a market cap of $1.43 billion, a price-to-earnings ratio of 12.05, a P/E/G ratio of 2.08 and a beta of 0.99. First Busey Co. has a twelve month low of $23.13 and a twelve month high of $32.47.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 26th. Stockholders of record on Friday, July 19th were given a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $0.84 annualized dividend and a dividend yield of 3.33%. First Busey’s dividend payout ratio is presently 40.00%.

A number of equities analysts have commented on the company. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Friday, July 26th. Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Wednesday, July 24th. ValuEngine upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. Finally, Stephens downgraded First Busey from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $30.00 to $29.00 in a research note on Tuesday, July 9th. Five equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $30.50.

In other First Busey news, Director Stanley J. Bradshaw acquired 1,183 shares of First Busey stock in a transaction dated Thursday, May 30th. The stock was acquired at an average cost of $24.95 per share, for a total transaction of $29,515.85. Following the completion of the transaction, the director now owns 4,195 shares in the company, valued at approximately $104,665.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Over the last quarter, insiders have bought 2,690 shares of company stock valued at $67,347. Insiders own 7.50% of the company’s stock.

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: Portfolio Manager

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

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