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.
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.
COPYRIGHT VIOLATION NOTICE: “First Busey (BUSE) Upgraded to “Buy” by B. Riley” was reported by American Banking News and is owned by of American Banking News. If you are viewing this piece on another website, it was stolen and reposted in violation of US and international copyright laws. The correct version of this piece can be accessed at https://www.americanbankingnews.com/2018/02/06/first-busey-buse-upgraded-to-buy-by-b-riley.html.
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.
Receive News & Ratings for First Busey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Busey and related companies with MarketBeat.com's FREE daily email newsletter.