Wellington Management Group LLP Trims Position in First Busey Co. (NASDAQ:BUSE)

Wellington Management Group LLP cut its stake in shares of First Busey Co. (NASDAQ:BUSE - Free Report) by 19.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,758,331 shares of the bank's stock after selling 431,377 shares during the period. Wellington Management Group LLP owned approximately 3.09% of First Busey worth $45,752,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in BUSE. Innealta Capital LLC purchased a new position in shares of First Busey during the 2nd quarter worth approximately $34,000. Huntington National Bank purchased a new position in shares of First Busey during the third quarter worth $38,000. CarsonAllaria Wealth Management Ltd. acquired a new stake in shares of First Busey in the third quarter valued at $43,000. Signaturefd LLC raised its holdings in shares of First Busey by 257.4% in the 2nd quarter. Signaturefd LLC now owns 1,998 shares of the bank's stock valued at $48,000 after buying an additional 1,439 shares during the period. Finally, Point72 DIFC Ltd acquired a new position in First Busey during the 3rd quarter worth about $171,000. 56.49% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

BUSE has been the subject of several research reports. StockNews.com raised First Busey from a "sell" rating to a "hold" rating in a research report on Thursday, September 12th. Keefe, Bruyette & Woods upped their target price on shares of First Busey from $32.00 to $34.00 and gave the stock an "outperform" rating in a research note on Wednesday, December 4th. Stephens cut shares of First Busey from an "overweight" rating to an "equal weight" rating and decreased their price target for the company from $28.00 to $27.00 in a research report on Monday, October 14th. Finally, DA Davidson boosted their price target on shares of First Busey from $28.00 to $29.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 28th. Three research analysts have rated the stock with a hold rating and two have given a buy rating to the company's stock. According to data from MarketBeat.com, First Busey presently has a consensus rating of "Hold" and a consensus price target of $29.25.

First Busey Stock Down 1.5 %

Shares of NASDAQ:BUSE traded down $0.41 during trading hours on Thursday, reaching $26.45. The stock had a trading volume of 120,770 shares, compared to its average volume of 227,399. 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 firm's 50 day moving average is $25.90 and its 200-day moving average is $25.37. The stock has a market capitalization of $1.50 billion, a price-to-earnings ratio of 13.85 and a beta of 0.86. First Busey Co. has a 1 year low of $21.68 and a 1 year high of $28.97.

First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings results on Tuesday, October 22nd. The bank reported $0.58 earnings per share (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 firm had revenue of $170.45 million during the quarter, compared to the consensus estimate of $118.32 million. During the same period in the prior year, the company posted $0.55 earnings per share. Research analysts predict that First Busey Co. will post 2.07 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, October 25th. Investors of record on Friday, October 18th were given a $0.24 dividend. The ex-dividend date of this dividend was Friday, October 18th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.63%. First Busey's dividend payout ratio (DPR) is presently 49.48%.

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.