First Busey Co. (NASDAQ:BUSE) Stake Boosted by Northwestern Mutual Wealth Management Co.
Northwestern Mutual Wealth Management Co. grew its position in shares of First Busey Co. (NASDAQ:BUSE) by 474.7% in the 1st quarter, Holdings Channel reports. The fund owned 6,960 shares of the bank’s stock after buying an additional 5,749 shares during the quarter. Northwestern Mutual Wealth Management Co.’s holdings in First Busey were worth $170,000 at the end of the most recent quarter.
Several other large investors have also recently modified their holdings of BUSE. Citigroup Inc. grew its holdings in shares of First Busey by 166.5% in the fourth quarter. Citigroup Inc. now owns 9,248 shares of the bank’s stock valued at $227,000 after purchasing an additional 5,778 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First Busey by 5.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 2,308,610 shares of the bank’s stock worth $56,653,000 after purchasing an additional 127,023 shares in the last quarter. Strs Ohio bought a new position in shares of First Busey in the first quarter worth $224,000. California Public Employees Retirement System grew its stake in shares of First Busey by 31.8% in the fourth quarter. California Public Employees Retirement System now owns 88,031 shares of the bank’s stock worth $2,160,000 after purchasing an additional 21,232 shares in the last quarter. Finally, Bank of Edwardsville bought a new position in shares of First Busey in the first quarter worth $13,681,000. 45.88% of the stock is owned by hedge funds and other institutional investors.
In other news, Director Thomas G. Sloan bought 8,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 30th. The stock was acquired at an average price of $25.91 per share, with a total value of $207,280.00. Following the completion of the purchase, the director now directly owns 231,471 shares of the company’s stock, valued at approximately $5,997,413.61. The acquisition was disclosed in a filing with the SEC, which is available at this link. Also, Director Stanley J. Bradshaw bought 1,183 shares of the firm’s stock in a transaction that occurred on Thursday, May 30th. The shares were purchased at an average cost of $24.95 per share, with a total value of $29,515.85. Following the purchase, the director now directly owns 4,195 shares of the company’s stock, valued at $104,665.25. The disclosure for this purchase can be found here. Insiders have purchased 69,955 shares of company stock valued at $1,859,546 in the last ninety days. Company insiders own 7.50% of the company’s stock.
Shares of NASDAQ:BUSE traded up $0.02 on Wednesday, hitting $25.22. The company’s stock had a trading volume of 1,192 shares, compared to its average volume of 121,148. First Busey Co. has a 12 month low of $23.13 and a 12 month high of $33.25. The stock has a market cap of $1.40 billion, a price-to-earnings ratio of 11.95, a PEG ratio of 1.94 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.85 and a current ratio of 0.85.
First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.03). First Busey had a return on equity of 10.23% and a net margin of 25.94%. The business had revenue of $94.33 million during the quarter, compared to the consensus estimate of $96.24 million. On average, equities research analysts predict that First Busey Co. will post 2.13 EPS for the current 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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