Bridgeway Capital Management Inc. Grows Stake in First Busey Co. (BUSE)

Bridgeway Capital Management Inc. grew its position in First Busey Co. (NASDAQ:BUSE) by 20.2% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 91,193 shares of the bank’s stock after buying an additional 15,300 shares during the period. Bridgeway Capital Management Inc. owned 0.19% of First Busey worth $2,832,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Blair William & Co. IL bought a new stake in shares of First Busey in the third quarter valued at about $1,355,000. Dimensional Fund Advisors LP lifted its holdings in shares of First Busey by 8.3% in the third quarter. Dimensional Fund Advisors LP now owns 2,181,587 shares of the bank’s stock valued at $67,738,000 after purchasing an additional 167,545 shares in the last quarter. Trexquant Investment LP bought a new stake in shares of First Busey in the third quarter valued at about $402,000. BlackRock Inc. lifted its holdings in shares of First Busey by 5.7% in the third quarter. BlackRock Inc. now owns 2,972,443 shares of the bank’s stock valued at $92,296,000 after purchasing an additional 159,658 shares in the last quarter. Finally, Martingale Asset Management L P lifted its holdings in shares of First Busey by 4.3% in the third quarter. Martingale Asset Management L P now owns 188,658 shares of the bank’s stock valued at $5,858,000 after purchasing an additional 7,704 shares in the last quarter. 51.10% of the stock is owned by institutional investors.

A number of analysts have recently commented on BUSE shares. Zacks Investment Research upgraded First Busey from a “hold” rating to a “buy” rating and set a $31.00 price target on the stock in a report on Wednesday, October 24th. B. Riley set a $36.00 price target on First Busey and gave the company a “buy” rating in a report on Monday, October 15th. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a report on Thursday, October 11th. Finally, Piper Jaffray Companies set a $31.00 target price on First Busey and gave the stock a “hold” rating in a report on Wednesday, October 31st. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and three have issued a buy rating to the company. First Busey currently has an average rating of “Hold” and a consensus target price of $31.67.

BUSE opened at $28.59 on Tuesday. First Busey Co. has a 52-week low of $26.61 and a 52-week high of $33.25. The stock has a market cap of $1.40 billion, a P/E ratio of 17.76, a P/E/G ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 0.87.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, October 23rd. The bank reported $0.55 earnings per share (EPS) for the quarter, hitting the consensus estimate of $0.55. First Busey had a return on equity of 10.29% and a net margin of 23.02%. The business had revenue of $82.63 million for the quarter, compared to analyst estimates of $85.16 million. Equities research analysts predict that First Busey Co. will post 2.12 EPS for the current year.

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About First Busey

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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Institutional Ownership by Quarter for First Busey (NASDAQ:BUSE)

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