First Busey (NASDAQ:BUSE) Research Coverage Started at Stephens

Stephens started coverage on shares of First Busey (NASDAQ:BUSE) in a research report sent to investors on Friday morning, Marketbeat.com reports. The brokerage issued an equal weight rating and a $27.00 target price on the bank’s stock.

A number of other research firms also recently commented on BUSE. Weiss Ratings upgraded First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, March 3rd. DA Davidson restated a “neutral” rating and set a $27.00 price target on shares of First Busey in a report on Thursday, January 29th. Finally, Piper Sandler lifted their price objective on First Busey from $26.00 to $29.00 and gave the stock an “overweight” rating in a research note on Friday, January 30th. Four research analysts have rated the stock with a Buy rating and three have given a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $27.17.

First Busey Stock Performance

BUSE opened at $24.62 on Friday. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $2.12 billion, a price-to-earnings ratio of 19.09 and a beta of 0.76. The company has a fifty day moving average of $25.46 and a 200 day moving average of $24.34. First Busey has a fifty-two week low of $18.40 and a fifty-two week high of $27.65.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 EPS for the quarter, topping the consensus estimate of $0.61 by $0.07. The business had revenue of $201.78 million for the quarter, compared to analysts’ expectations of $197.70 million. First Busey had a net margin of 12.96% and a return on equity of 9.46%. As a group, sell-side analysts forecast that First Busey will post 2.61 earnings per share for the current fiscal year.

First Busey Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were given a dividend of $0.26 per share. The ex-dividend date was Friday, January 23rd. This represents a $1.04 annualized dividend and a dividend yield of 4.2%. This is a positive change from First Busey’s previous quarterly dividend of $0.25. First Busey’s dividend payout ratio is currently 80.62%.

Institutional Investors Weigh In On First Busey

Large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust purchased a new stake in First Busey during the fourth quarter valued at approximately $28,000. Litman Gregory Wealth Management LLC purchased a new position in shares of First Busey in the 4th quarter worth approximately $30,000. Allworth Financial LP increased its position in shares of First Busey by 127.8% during the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after purchasing an additional 888 shares during the last quarter. Torren Management LLC purchased a new stake in First Busey during the 4th quarter valued at $40,000. Finally, Geneos Wealth Management Inc. raised its holdings in First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after buying an additional 2,004 shares during the period. 56.49% of the stock is owned by institutional investors.

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.