B. Riley lowered shares of First Busey (NASDAQ:BUSE) from a buy rating to a neutral rating in a report issued on Wednesday morning, BenzingaRatingsTable reports. They currently have $28.00 price target on the bank’s stock, down from their previous price target of $30.00. B. Riley also issued estimates for First Busey’s Q3 2019 earnings at $0.52 EPS, Q4 2019 earnings at $0.54 EPS, FY2019 earnings at $2.07 EPS, Q1 2020 earnings at $0.51 EPS, Q2 2020 earnings at $0.55 EPS, Q3 2020 earnings at $0.54 EPS, Q4 2020 earnings at $0.55 EPS and FY2020 earnings at $2.15 EPS.
Several other brokerages have also recently commented on BUSE. Stephens cut First Busey from an overweight rating to an equal weight rating and dropped their target price for the stock from $30.00 to $29.00 in a report on Tuesday, July 9th. BidaskClub raised First Busey from a sell rating to a hold rating in a report on Friday, July 26th. Zacks Investment Research raised First Busey from a sell rating to a hold rating in a report on Wednesday, July 24th. Finally, ValuEngine raised First Busey from a sell rating to a hold rating in a report on Thursday, August 1st. Six investment analysts have rated the stock with a hold rating, The company presently has a consensus rating of Hold and a consensus price target of $29.25.
BUSE opened at $23.89 on Wednesday. The business’s 50 day moving average is $25.93 and its 200-day moving average is $25.82. The stock has a market cap of $1.38 billion, a PE ratio of 11.79, a price-to-earnings-growth ratio of 2.05 and a beta of 0.99. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. First Busey has a twelve month low of $23.13 and a twelve month high of $32.47.
The company also recently announced a quarterly dividend, which was paid on Friday, July 26th. Investors of record on Friday, July 19th were issued a dividend of $0.21 per share. The ex-dividend date of this dividend was Thursday, July 18th. This represents a $0.84 annualized dividend and a yield of 3.52%. First Busey’s payout ratio is 40.00%.
In related news, Director Stanley J. Bradshaw purchased 1,183 shares of the company’s stock in a transaction on Thursday, May 30th. The shares were bought at an average price of $24.95 per share, with a total value of $29,515.85. Following the completion of the acquisition, the director now owns 4,195 shares of the company’s stock, valued at $104,665.25. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last three months, insiders have purchased 1,690 shares of company stock worth $42,357. 7.50% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently bought and sold shares of the business. Meeder Asset Management Inc. increased its holdings in shares of First Busey by 7.8% in the first quarter. Meeder Asset Management Inc. now owns 8,694 shares of the bank’s stock valued at $212,000 after buying an additional 626 shares in the last quarter. US Bancorp DE increased its holdings in shares of First Busey by 5.8% in the second quarter. US Bancorp DE now owns 12,573 shares of the bank’s stock valued at $332,000 after buying an additional 689 shares in the last quarter. Strs Ohio increased its holdings in shares of First Busey by 7.6% in the second quarter. Strs Ohio now owns 9,900 shares of the bank’s stock valued at $261,000 after buying an additional 700 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of First Busey by 10.3% in the fourth quarter. Legal & General Group Plc now owns 7,893 shares of the bank’s stock valued at $194,000 after buying an additional 738 shares in the last quarter. Finally, Parametric Portfolio Associates LLC increased its holdings in shares of First Busey by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 125,020 shares of the bank’s stock valued at $3,302,000 after buying an additional 1,312 shares in the last quarter. 48.27% of the stock is currently owned by institutional investors.
First Busey Company Profile
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
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