First Busey Co. (NASDAQ:BUSE) has been given an average recommendation of “Hold” by the seven brokerages that are currently covering the company, MarketBeat reports. Six research analysts have rated the stock with a hold rating and one has given a buy rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $33.50.
Several equities analysts have recently commented on the stock. B. Riley raised shares of First Busey from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $36.00 to $35.00 in a research report on Tuesday, February 6th. BidaskClub cut shares of First Busey from a “hold” rating to a “sell” rating in a research report on Friday, January 26th. Piper Jaffray Companies reaffirmed a “hold” rating and set a $33.00 price target on shares of First Busey in a research report on Tuesday, January 9th. Finally, Zacks Investment Research cut shares of First Busey from a “buy” rating to a “hold” rating in a research report on Tuesday, February 27th.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in BUSE. State Street Corp raised its stake in First Busey by 4.4% during the second quarter. State Street Corp now owns 585,996 shares of the bank’s stock worth $17,184,000 after acquiring an additional 24,499 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of First Busey by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 24,480 shares of the bank’s stock valued at $718,000 after purchasing an additional 787 shares during the period. Nationwide Fund Advisors increased its stake in shares of First Busey by 18.3% in the third quarter. Nationwide Fund Advisors now owns 73,491 shares of the bank’s stock valued at $2,305,000 after purchasing an additional 11,360 shares during the period. Stevens Capital Management LP increased its stake in shares of First Busey by 35.1% in the third quarter. Stevens Capital Management LP now owns 13,479 shares of the bank’s stock valued at $423,000 after purchasing an additional 3,500 shares during the period. Finally, Prudential Financial Inc. increased its stake in shares of First Busey by 57.3% in the third quarter. Prudential Financial Inc. now owns 41,354 shares of the bank’s stock valued at $1,297,000 after purchasing an additional 15,069 shares during the period. Hedge funds and other institutional investors own 47.20% of the company’s stock.
Shares of First Busey (NASDAQ BUSE) traded up $0.16 during mid-day trading on Wednesday, hitting $31.49. 200,744 shares of the stock traded hands, compared to its average volume of 86,518. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. First Busey has a twelve month low of $27.33 and a twelve month high of $32.88. The company has a market capitalization of $1,525.51, a PE ratio of 21.28, a price-to-earnings-growth ratio of 2.32 and a beta of 1.05.
First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). First Busey had a return on equity of 9.84% and a net margin of 20.31%. The company had revenue of $86.61 million for the quarter, compared to the consensus estimate of $82.39 million. equities research analysts expect that First Busey will post 2.25 earnings per share for the current fiscal year.
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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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