First Busey (BUSE) Upgraded to “Buy” by B. Riley

First Busey (NASDAQ:BUSE) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a research note issued on Tuesday, MarketBeat reports. The brokerage presently has a $35.00 target price on the bank’s stock, down from their previous target price of $36.00. B. Riley’s price objective would suggest a potential upside of 16.12% from the stock’s current price.

Several other equities analysts have also recently weighed in on BUSE. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a report on Monday. Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, January 1st. Piper Jaffray Companies reissued a “hold” rating and set a $33.00 price target on shares of First Busey in a report on Tuesday, January 9th. FBR & Co reissued a “neutral” rating and set a $34.00 price target (up from $32.00) on shares of First Busey in a report on Wednesday, October 25th. Finally, ValuEngine cut First Busey from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The company has an average rating of “Hold” and an average target price of $33.60.

First Busey (NASDAQ BUSE) traded up $0.10 during midday trading on Tuesday, hitting $30.14. The stock had a trading volume of 303,292 shares, compared to its average volume of 155,184. The company has a market cap of $1,518.00, a PE ratio of 20.37, a price-to-earnings-growth ratio of 2.34 and a beta of 1.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.90. First Busey has a 12-month low of $27.33 and a 12-month high of $32.88.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, January 30th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The firm had revenue of $86.61 million for the quarter, compared to the consensus estimate of $82.39 million. First Busey had a net margin of 20.31% and a return on equity of 10.75%. analysts expect that First Busey will post 2.22 EPS for the current fiscal year.

A number of institutional investors have recently made changes to their positions in BUSE. Schwab Charles Investment Management Inc. raised its holdings in First Busey by 1.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 155,566 shares of the bank’s stock worth $4,562,000 after purchasing an additional 1,661 shares during the period. Legal & General Group Plc raised its holdings in First Busey by 8.7% in the 2nd quarter. Legal & General Group Plc now owns 7,995 shares of the bank’s stock worth $235,000 after purchasing an additional 639 shares during the period. Teachers Advisors LLC raised its holdings in First Busey by 12.0% in the 2nd quarter. Teachers Advisors LLC now owns 58,886 shares of the bank’s stock worth $1,727,000 after purchasing an additional 6,289 shares during the period. TIAA CREF Investment Management LLC raised its holdings in First Busey by 33.5% in the 2nd quarter. TIAA CREF Investment Management LLC now owns 111,412 shares of the bank’s stock worth $3,267,000 after purchasing an additional 27,931 shares during the period. Finally, Ameriprise Financial Inc. raised its holdings in First Busey by 21.2% in the 2nd quarter. Ameriprise Financial Inc. now owns 259,767 shares of the bank’s stock worth $7,616,000 after purchasing an additional 45,513 shares during the period. 46.12% of the stock is currently owned by institutional investors.

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First Busey Company Profile

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. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.

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