JPMorgan Chase & Co. Has $12.55 Million Position in First Busey Co. (NASDAQ:BUSE)

JPMorgan Chase & Co. grew its position in First Busey Co. (NASDAQ:BUSE - Free Report) by 9.0% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 482,287 shares of the bank's stock after purchasing an additional 39,900 shares during the period. JPMorgan Chase & Co. owned about 0.85% of First Busey worth $12,549,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently made changes to their positions in BUSE. Huntington National Bank bought a new position in shares of First Busey in the third quarter valued at about $38,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of First Busey in the third quarter valued at about $43,000. Point72 DIFC Ltd bought a new position in shares of First Busey in the third quarter valued at about $171,000. Intech Investment Management LLC bought a new position in shares of First Busey in the third quarter valued at about $224,000. Finally, Northwestern Mutual Wealth Management Co. raised its holdings in shares of First Busey by 397.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,660 shares of the bank's stock valued at $258,000 after buying an additional 8,515 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company's stock.

Wall Street Analyst Weigh In

BUSE has been the subject of a number of research analyst reports. Keefe, Bruyette & Woods lifted their price target on First Busey from $32.00 to $34.00 and gave the company an "outperform" rating in a report on Wednesday, December 4th. Stephens cut First Busey from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $28.00 to $27.00 in a report on Monday, October 14th.

First Busey Trading Down 3.1 %

NASDAQ:BUSE traded down $0.70 on Friday, hitting $21.92. 354,551 shares of the stock were exchanged, compared to its average volume of 274,125. The stock has a market capitalization of $1.25 billion, a price-to-earnings ratio of 11.30 and a beta of 0.88. First Busey Co. has a 52 week low of $21.68 and a 52 week high of $28.97. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82. The company's 50-day moving average price is $25.49 and its 200 day moving average price is $25.64.

First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.58 earnings per share for the quarter, topping the consensus estimate of $0.54 by $0.04. The firm had revenue of $170.45 million during the quarter, compared to analysts' expectations of $118.32 million. First Busey had a return on equity of 8.94% and a net margin of 16.94%. During the same period in the previous year, the business posted $0.55 EPS. On average, equities research analysts forecast that First Busey Co. will post 2.07 earnings per share for the current year.

First Busey Profile

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.