First Busey Co. (NASDAQ:BUSE) Shares Acquired by JPMorgan Chase & Co.

JPMorgan Chase & Co. increased its stake in shares of First Busey Co. (NASDAQ:BUSE) by 9.0% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 482,287 shares of the bank’s stock after acquiring 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 Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the stock. Huntington National Bank purchased a new stake in First Busey during the third quarter worth $38,000. CarsonAllaria Wealth Management Ltd. acquired a new position in shares of First Busey in the third quarter worth about $43,000. Point72 DIFC Ltd purchased a new stake in shares of First Busey during the 3rd quarter worth about $171,000. Intech Investment Management LLC acquired a new stake in shares of First Busey during the 3rd quarter valued at about $224,000. Finally, Northwestern Mutual Wealth Management Co. increased its stake in shares of First Busey by 397.0% in the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 10,660 shares of the bank’s stock valued at $258,000 after purchasing an additional 8,515 shares in the last quarter. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on the stock. Stephens cut shares of First Busey from an “overweight” rating to an “equal weight” rating and dropped their price target for the company from $28.00 to $27.00 in a research note on Monday, October 14th. Keefe, Bruyette & Woods lifted their target price on shares of First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

First Busey Price Performance

NASDAQ:BUSE opened at $21.92 on Friday. First Busey Co. has a one year low of $21.68 and a one year high of $28.97. The stock has a market cap of $1.25 billion, a PE ratio of 11.30 and a beta of 0.88. 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 stock has a 50 day moving average price of $25.49 and a 200 day moving average price of $25.62.

First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, October 22nd. The bank reported $0.58 earnings per share (EPS) for the quarter, topping 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 business 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 company earned $0.55 EPS. Equities research analysts expect that First Busey Co. will post 2.07 EPS for the current fiscal year.

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.