First Busey (NASDAQ:BUSE) Earns Neutral Rating from DA Davidson

First Busey (NASDAQ:BUSE)‘s stock had its “neutral” rating reissued by DA Davidson in a research note issued to investors on Thursday,Benzinga reports. They currently have a $27.00 price objective on the bank’s stock. DA Davidson’s target price indicates a potential upside of 9.53% from the company’s current price.

Several other equities research analysts have also recently commented on the company. Piper Sandler lowered their target price on First Busey from $30.00 to $26.00 and set an “overweight” rating for the company in a research note on Friday, October 31st. Weiss Ratings reiterated a “hold (c+)” rating on shares of First Busey in a research report on Monday, December 29th. Finally, Raymond James Financial reissued an “outperform” rating and set a $26.00 price objective (down from $28.00) on shares of First Busey in a report on Thursday, October 30th. Three research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $27.00.

First Busey Trading Down 0.1%

Shares of NASDAQ BUSE opened at $24.65 on Thursday. First Busey has a 1-year low of $18.40 and a 1-year high of $26.08. The company has a 50-day moving average of $24.38 and a two-hundred day moving average of $23.77. The company has a market cap of $2.18 billion, a PE ratio of 19.11 and a beta of 0.79. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.11.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. First Busey had a net margin of 12.96% and a return on equity of 9.59%. The business had revenue of $201.78 million during the quarter, compared to analyst estimates of $197.70 million. As a group, equities analysts expect that First Busey will post 2.61 earnings per share for the current fiscal year.

Insider Activity at First Busey

In other news, President Mike Maddox purchased 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, December 3rd. The shares were acquired at an average cost of $25.52 per share, for a total transaction of $25,520.00. Following the transaction, the president directly owned 40,280 shares of the company’s stock, valued at approximately $1,027,945.60. The trade was a 2.55% increase in their position. The acquisition was disclosed in a filing with the SEC, which is available at this link. Over the last three months, insiders sold 2,250 shares of company stock valued at $54,398. Corporate insiders own 3.85% of the company’s stock.

Institutional Investors Weigh In On First Busey

Large investors have recently bought and sold shares of the company. Torren Management LLC acquired a new position in shares of First Busey in the 4th quarter valued at $40,000. Geneos Wealth Management Inc. lifted its holdings in First Busey by 726.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after acquiring an additional 2,004 shares in the last quarter. Signaturefd LLC lifted its holdings in First Busey by 34.3% during the second quarter. Signaturefd LLC now owns 3,389 shares of the bank’s stock worth $78,000 after acquiring an additional 865 shares in the last quarter. State of Alaska Department of Revenue acquired a new position in First Busey in the third quarter valued at about $86,000. Finally, CIBC Private Wealth Group LLC increased its holdings in shares of First Busey by 111.9% in the third quarter. CIBC Private Wealth Group LLC now owns 3,920 shares of the bank’s stock worth $91,000 after acquiring an additional 2,070 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.

First Busey Company Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.