First Busey (NASDAQ:BUSE) Upgraded to Hold by StockNews.com

StockNews.com upgraded shares of First Busey (NASDAQ:BUSEFree Report) from a sell rating to a hold rating in a report published on Friday morning.

Several other research firms also recently weighed in on BUSE. Piper Sandler boosted their target price on shares of First Busey from $21.00 to $23.00 and gave the stock an overweight rating in a research report on Tuesday, November 28th. Stephens reissued an overweight rating and set a $23.00 target price on shares of First Busey in a research report on Tuesday, November 28th. Keefe, Bruyette & Woods boosted their target price on shares of First Busey from $24.00 to $25.00 and gave the stock an outperform rating in a research report on Wednesday, November 29th. Finally, Raymond James boosted their target price on shares of First Busey from $24.00 to $27.00 and gave the stock an outperform rating in a research report on Tuesday, December 12th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and a consensus price target of $24.50.

View Our Latest Stock Analysis on BUSE

First Busey Trading Down 0.0 %

NASDAQ:BUSE opened at $22.94 on Friday. First Busey has a one year low of $16.26 and a one year high of $25.80. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $1.27 billion, a P/E ratio of 10.57 and a beta of 0.85. The firm has a 50-day simple moving average of $23.69 and a 200-day simple moving average of $21.80.

First Busey (NASDAQ:BUSEGet Free Report) last posted its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.52 EPS for the quarter, topping the consensus estimate of $0.49 by $0.03. The firm had revenue of $108.65 million during the quarter, compared to analyst estimates of $107.74 million. First Busey had a net margin of 20.37% and a return on equity of 10.38%. Equities analysts anticipate that First Busey will post 2.14 EPS for the current fiscal year.

First Busey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 26th. Stockholders of record on Friday, January 19th were given a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.18%. The ex-dividend date of this dividend was Thursday, January 18th. First Busey’s dividend payout ratio (DPR) is 44.24%.

Insider Activity

In other news, Director Stanley J. Bradshaw acquired 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of $23.06 per share, with a total value of $96,852.00. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $2,306,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Stanley J. Bradshaw acquired 4,200 shares of the company’s stock in a transaction that occurred on Wednesday, December 6th. The stock was purchased at an average price of $23.06 per share, with a total value of $96,852.00. Following the completion of the acquisition, the director now owns 100,000 shares of the company’s stock, valued at approximately $2,306,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael David Cassens sold 2,300 shares of the stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $23.02, for a total transaction of $52,946.00. Following the transaction, the director now directly owns 141,278 shares of the company’s stock, valued at approximately $3,252,219.56. The disclosure for this sale can be found here. Over the last three months, insiders acquired 7,117 shares of company stock worth $168,107 and sold 6,900 shares worth $162,955. Company insiders own 7.40% of the company’s stock.

Institutional Investors Weigh In On First Busey

A number of hedge funds have recently added to or reduced their stakes in the business. Moneta Group Investment Advisors LLC grew its stake in First Busey by 102,760.3% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 32,102,710 shares of the bank’s stock worth $793,579,000 after purchasing an additional 32,071,500 shares in the last quarter. Plancorp LLC increased its stake in shares of First Busey by 742.9% during the third quarter. Plancorp LLC now owns 1,320,225 shares of the bank’s stock worth $25,375,000 after buying an additional 1,163,596 shares during the period. Alliancebernstein L.P. increased its stake in shares of First Busey by 48.6% during the second quarter. Alliancebernstein L.P. now owns 1,525,185 shares of the bank’s stock worth $30,656,000 after buying an additional 498,963 shares during the period. Osborne Partners Capital Management LLC purchased a new stake in shares of First Busey during the fourth quarter worth approximately $11,053,000. Finally, ProShare Advisors LLC purchased a new stake in shares of First Busey during the second quarter worth approximately $7,791,000. 53.22% of the stock is currently owned by institutional investors and hedge funds.

First Busey Company Profile

(Get Free Report)

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. It operates through three segments: Banking, FirsTech, and Wealth Management.

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