First Busey Corp. (BUSE) Downgraded to Sell at Zacks Investment Research
According to Zacks, “First Busey Corporation is a financial holding company located in Urbana, Illinois. First Busey is engaged primarily in commercial, retail and correspondent banking and provides trust services, insurance services, and travel services. “
Separately, Keefe, Bruyette & Woods lifted their price objective on First Busey Corp. from $22.00 to $23.00 and gave the stock a market perform rating in a research report on Monday, August 1st. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The company has an average rating of Hold and an average target price of $22.83.
Shares of First Busey Corp. (NASDAQ:BUSE) opened at 21.82 on Monday. First Busey Corp. has a 52-week low of $17.68 and a 52-week high of $24.02. The stock has a market capitalization of $833.61 million, a price-to-earnings ratio of 15.16 and a beta of 0.92. The stock has a 50 day moving average of $23.22 and a 200-day moving average of $21.89.
First Busey Corp. (NASDAQ:BUSE) last released its quarterly earnings results on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. First Busey Corp. had a net margin of 22.23% and a return on equity of 10.66%. On average, equities research analysts predict that First Busey Corp. will post $1.52 EPS for the current fiscal year.
In related news, Director Stanley J. Bradshaw bought 1,603 shares of the firm’s stock in a transaction dated Friday, July 29th. The stock was bought at an average cost of $22.97 per share, for a total transaction of $36,820.91. Following the transaction, the director now owns 1,250 shares of the company’s stock, valued at $28,712.50. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 11.50% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its position in First Busey Corp. by 52.5% in the second quarter. Dimensional Fund Advisors LP now owns 1,630,683 shares of the company’s stock valued at $34,880,000 after buying an additional 561,723 shares during the period. Vanguard Group Inc. boosted its position in First Busey Corp. by 35.1% in the second quarter. Vanguard Group Inc. now owns 1,259,063 shares of the company’s stock valued at $26,931,000 after buying an additional 327,130 shares during the period. Skyline Asset Management LP boosted its position in First Busey Corp. by 4.2% in the first quarter. Skyline Asset Management LP now owns 1,040,870 shares of the company’s stock valued at $21,317,000 after buying an additional 41,955 shares during the period. BlackRock Institutional Trust Company N.A. boosted its position in First Busey Corp. by 3.6% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 954,306 shares of the company’s stock valued at $20,413,000 after buying an additional 33,590 shares during the period. Finally, BlackRock Fund Advisors boosted its position in First Busey Corp. by 31.8% in the second quarter. BlackRock Fund Advisors now owns 804,479 shares of the company’s stock valued at $17,208,000 after buying an additional 194,299 shares during the period. Institutional investors and hedge funds own 46.21% of the company’s stock.
About First Busey Corp.
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 at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.
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