First Busey Corp. (NASDAQ:BUSE) Given Consensus Rating of “Hold” by Brokerages
Shares of First Busey Corp. (NASDAQ:BUSE) have earned an average rating of “Hold” from the seven analysts that are covering the stock. One equities research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $22.40.
A number of brokerages have weighed in on BUSE. Keefe, Bruyette & Woods raised their target price on First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, August 1st. Zacks Investment Research downgraded First Busey Corp. from a “hold” rating to a “sell” rating in a report on Monday.
First Busey Corp. (NASDAQ:BUSE) traded down 0.22% during midday trading on Friday, hitting $22.21. The stock had a trading volume of 26,262 shares. The company’s 50-day moving average price is $23.10 and its 200 day moving average price is $21.91. The company has a market capitalization of $848.51 million, a PE ratio of 15.43 and a beta of 0.92. First Busey Corp. has a 52 week low of $17.68 and a 52 week high of $24.02.
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First Busey Corp. (NASDAQ:BUSE) last issued its earnings results on Thursday, July 28th. The company reported $0.35 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. First Busey Corp. had a net margin of 22.23% and a return on equity of 10.66%. On average, analysts expect that First Busey Corp. will post $1.52 EPS for the current year.
In other news, Director Stanley J. Bradshaw acquired 1,603 shares of the business’s stock in a transaction that occurred on Friday, July 29th. The shares were bought at an average price of $22.97 per share, with a total value of $36,820.91. Following the acquisition, the director now directly owns 1,250 shares in the company, valued at approximately $28,712.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 11.50% of the company’s stock.
Several large investors have recently added to or reduced their stakes in BUSE. Commonwealth Equity Services Inc increased its stake in First Busey Corp. by 0.4% in the first quarter. Commonwealth Equity Services Inc now owns 18,671 shares of the company’s stock valued at $382,000 after buying an additional 76 shares during the period. Parametric Portfolio Associates LLC raised its position in shares of First Busey Corp. by 0.8% in the second quarter. Parametric Portfolio Associates LLC now owns 79,385 shares of the company’s stock valued at $1,698,000 after buying an additional 625 shares in the last quarter. Metropolitan Life Insurance Co. NY raised its position in shares of First Busey Corp. by 3.8% in the first quarter. Metropolitan Life Insurance Co. NY now owns 18,290 shares of the company’s stock valued at $375,000 after buying an additional 665 shares in the last quarter. Barclays PLC raised its position in shares of First Busey Corp. by 4.7% in the first quarter. Barclays PLC now owns 15,552 shares of the company’s stock valued at $311,000 after buying an additional 704 shares in the last quarter. Finally, Menta Capital LLC raised its position in shares of First Busey Corp. by 4.8% in the second quarter. Menta Capital LLC now owns 19,571 shares of the company’s stock valued at $419,000 after buying an additional 900 shares in the last quarter. 46.21% of the stock is currently owned by institutional investors.
About First Busey Corp.
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.
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