First Busey Co. (NASDAQ:BUSE) Short Interest Update

First Busey Co. (NASDAQ:BUSE - Get Free Report) saw a large growth in short interest during the month of December. As of December 15th, there was short interest totalling 1,730,000 shares, a growth of 8.8% from the November 30th total of 1,590,000 shares. Based on an average trading volume of 269,500 shares, the short-interest ratio is presently 6.4 days.

First Busey Stock Performance

NASDAQ:BUSE remained flat at $23.57 on Tuesday. 178,100 shares of the company's stock traded hands, compared to its average volume of 227,525. First Busey has a 52-week low of $21.68 and a 52-week high of $28.97. The firm's 50-day simple moving average is $25.77 and its two-hundred day simple moving average is $25.62. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm has a market cap of $1.34 billion, a PE ratio of 12.15 and a beta of 0.86.

First Busey (NASDAQ:BUSE - Get Free Report) last issued its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.58 EPS for the quarter, beating analysts' consensus estimates of $0.54 by $0.04. First Busey had a return on equity of 8.94% and a net margin of 16.94%. The company had revenue of $170.45 million during the quarter, compared to the consensus estimate of $118.32 million. During the same period last year, the business posted $0.55 earnings per share. Equities research analysts predict that First Busey will post 2.07 EPS for the current year.

First Busey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, October 25th. Stockholders of record on Friday, October 18th were paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.07%. The ex-dividend date of this dividend was Friday, October 18th. First Busey's payout ratio is 49.48%.

Analyst Ratings Changes

Several research firms have commented on BUSE. StockNews.com upgraded First Busey from a "sell" rating to a "hold" rating in a research report on Thursday, September 12th. Stephens downgraded shares of First Busey from an "overweight" rating to an "equal weight" rating and cut their target price for the stock from $28.00 to $27.00 in a research report on Monday, October 14th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Busey from $32.00 to $34.00 and gave the company an "outperform" rating in a research note on Wednesday, December 4th.

Hedge Funds Weigh In On First Busey

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Huntington National Bank bought a new stake in First Busey in the third quarter worth about $38,000. CarsonAllaria Wealth Management Ltd. purchased a new position in First Busey in the third quarter valued at approximately $43,000. Signaturefd LLC lifted its stake in First Busey by 257.4% in the second quarter. Signaturefd LLC now owns 1,998 shares of the bank's stock valued at $48,000 after purchasing an additional 1,439 shares during the last quarter. Point72 DIFC Ltd purchased a new position in First Busey in the third quarter valued at approximately $171,000. Finally, Intech Investment Management LLC bought a new position in First Busey during the third quarter valued at $224,000. 56.49% of the stock is owned by hedge funds and other institutional investors.

About First Busey

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.

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