Janus Henderson Group PLC Has $3.33 Million Stock Holdings in First Busey Corporation $BUSE

Key Points

• Janus Henderson cut its First Busey stake by 87% in the first quarter, selling 880,670 shares and retaining 131,739 shares valued at approximately $3.33 million. Institutional investors and hedge funds collectively own 56.49% of BUSE.
• Analysts remain broadly positive, with First Busey carrying a consensus “Moderate Buy” rating and an average price target of $32.00; recent targets ranged from $31 to $32.
• First Busey reported quarterly EPS of $0.69, beating estimates of $0.63, while revenue of $194.27 million fell short of expectations. The company also paid a quarterly dividend of $0.26, implying a 3.4% annualized yield.

Janus Henderson Group PLC trimmed its stake in shares of First Busey Corporation (NASDAQ:BUSE - Free Report) by 87.0% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 131,739 shares of the bank's stock after selling 880,670 shares during the quarter. Janus Henderson Group PLC owned approximately 0.16% of First Busey worth $3,329,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Amundi bought a new stake in First Busey in the first quarter valued at approximately $611,000. California State Teachers Retirement System raised its holdings in First Busey by 13.1% during the 1st quarter. California State Teachers Retirement System now owns 95,005 shares of the bank's stock worth $2,401,000 after purchasing an additional 11,029 shares during the last quarter. Royal Bank of Canada raised its holdings in First Busey by 13.1% during the 1st quarter. Royal Bank of Canada now owns 8,373 shares of the bank's stock worth $212,000 after purchasing an additional 971 shares during the last quarter. Rhino Investment Partners Inc lifted its position in shares of First Busey by 101.3% in the 1st quarter. Rhino Investment Partners Inc now owns 492,113 shares of the bank's stock worth $12,436,000 after purchasing an additional 247,589 shares during the period. Finally, Empowered Funds LLC boosted its stake in shares of First Busey by 16.0% in the 1st quarter. Empowered Funds LLC now owns 475,547 shares of the bank's stock valued at $12,017,000 after purchasing an additional 65,745 shares during the last quarter. 56.49% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on BUSE. Wall Street Zen upgraded shares of First Busey from a "sell" rating to a "hold" rating in a research report on Saturday, August 1st. Zacks Research raised shares of First Busey from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, July 21st. DA Davidson increased their price target on First Busey from $30.00 to $31.00 and gave the stock a "neutral" rating in a report on Thursday, July 30th. Weiss Ratings raised First Busey from a "buy (b-)" rating to a "buy (b)" rating in a research report on Monday, May 11th. Finally, Raymond James Financial upped their target price on First Busey from $28.00 to $32.00 and gave the company an "outperform" rating in a research report on Wednesday, July 1st. One research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average target price of $32.00.

First Busey Stock Down 0.4%

Shares of NASDAQ BUSE opened at $30.98 on Friday. The firm has a market cap of $2.62 billion, a PE ratio of 12.80 and a beta of 0.72. First Busey Corporation has a 12-month low of $22.00 and a 12-month high of $31.70. The company's fifty day simple moving average is $29.30 and its 200 day simple moving average is $27.09. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. First Busey had a net margin of 21.00% and a return on equity of 10.42%. The firm had revenue of $194.27 million during the quarter, compared to the consensus estimate of $197.59 million. As a group, sell-side analysts forecast that First Busey Corporation will post 2.67 earnings per share for the current fiscal year.

First Busey Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Investors of record on Friday, July 24th were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date of this dividend was Friday, July 24th. First Busey's payout ratio is presently 42.98%.

First Busey Company Profile

First Busey NASDAQ: BUSE is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source