Pulaski Financial Corp (NASDAQ:PULB) and First Busey Corporation (NASDAQ:BUSE) share fell today as Levi & Korsinsky, LLP has notified shareholders of Pulaski Pinancial that they have commenced an investigatoin into the fairness of the recent sale of the company to First Busey Corporation. The legal firm is investigating the board of directors of Pulaski Financial Corp (NASDAQ:PULB) in connection with the sale of the company.
The investigatin is looking into whether or not the board actually broke their fiduciary duties to their shareholdesr by not sufficiently shopping the company around prior to entering into the transaction with First Busey Corp. It is also trying ot determin if First Busey underpaid for the pruchase of Pulaski Financial shares.
Pulaski Financial (PULB) stock is down 1.51% or $0.26 following the news, hitting $16.69 per share. About 53,798 shares traded hands or 176.50% up from the average. PULB has risen 30.18% since May 4, 2015 and is uptrending. It has outperformed the S&P500 by 31.26%.
The institutional sentiment decreased to 1.17 in Q2 2015. It’s down 0.10, from 1.27 in 2015Q1. The ratio dived, as 4 funds sold all their Pulaski Financial Corp shares they owned while 8 reduced their positions. 4 funds bought stakes while 10 increased their total positions. Institutions now own 2.99 million shares which is 7.55% more than the previous share count of 2.78 million in 2015Q1.
Jcsd Capital Llc holds 3.9% of its total portfolio in Pulaski Financial Corp, equating to 207,690 shares. Elizabeth Park Capital Advisors Ltd. owns 183,426 shares representing 0.77% of their total US portfolio. Moreover, Basswood Capital Management L.L.C. has 0.46% of their total portfolio invested in the company, equating to 751,858 shares. The Washington-based Filament Llc has a total of 0.3% of their portfolio invested in the stock. Schneider Capital Management Corp, a Pennsylvania-based fund reported 59,477 shares owned.
Pulaski Financial Corp. is a United States diversified, community-based, financial institution holding company. The company has a market cap of $201.92 million. The Firm conducts its activities primarily through Pulaski Bank, which is a federally chartered savings bank. It has 14.57 P/E ratio. Pulaski Bank provides a range of financial services and products for businesses and clients primarily through its 13 offices in the St.
Shares of First Busey Corporation (BUSE) are down 1.23% or $0.27 following the news, hitting $21.6 per share. About 95,140 shares traded hands or 43.80% up from the average. BUSE has risen 255.61% since May 4, 2015 and is uptrending. It has outperformed the S&P500 by 256.69%.
From a total of 3 analysts covering First Busey Corp (NASDAQ:BUSE) stock, 1 rate it a “Buy”, 0 a “Sell”, and 2 a “Hold”. This means that 33% of the ratings are positive. The highest target price is $21 while the lowest target price is $7. The mean of all analyst targets is $14 which is -35.19% below today’s ($21.6) stock price. First Busey Corp was the topic of 4 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Sandler O’Neill upgraded shares on September 17 to a “Buy” rating.
The institutional sentiment increased to 1.38 in Q2 2015. It’s up 0.57, from 0.81 in 2015Q1. The ratio improved, as 7 funds sold all their First Busey Corporation shares they owned while 30 reduced their positions. 14 funds bought stakes while 37 increased their total positions. Institutions now own 42.47 million shares which is 0.94% more than the previous share count of 42.08 million in 2015Q1.
Thomson Horstmann & Bryant Inc holds 1.06% of its total portfolio in First Busey Corporation, equating to 2.13 million shares. Skyline Asset Management Lp owns 2.31 million shares representing 1.05% of their total US portfolio. Moreover, Columbia Wanger Asset Management Llc has 0.27% of their total portfolio invested in the company, equating to 6.41 million shares. The New York-based Maltese Capital Management Llc has a total of 0.14% of their portfolio invested in the stock. Segall Bryant & Hamill Llc, a Illinois-based fund reported 850,455 shares owned.
Since March 10, 2015, the stock had 3 insider buys, and 1 insider sale for a total of $228,194 in net activity. Stewart Jon D bought 342 shares worth $6,436. Elliott Robin N bought 2,000 shares worth $36,319. Leister V B sold 2,874 shares worth $18,135. Mooney Howard F bought 7,770 shares worth $50,078.
First Busey Corporation is a financial holding company. The company has a market cap of $625.19 million. First Busey offers a range of financial services through its banking and non-banking subsidiaries at multiple locations in Illinois, Florida, Indiana and Missouri. It has 17.9 P/E ratio. It has one wholly owned bank subsidiary, Busey Bank (the Bank), which has locations in Illinois, Indiana and Florida.