First Busey Corp. (NASDAQ:BUSE) Given Consensus Rating of “Hold” by Brokerages
Shares of First Busey Corp. (NASDAQ:BUSE) have received an average recommendation of “Hold” from the seven research firms that are currently covering the company. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating on the company. The average 1-year target price among analysts that have covered the stock in the last year is $22.40.
A number of research firms have issued reports on BUSE. Zacks Investment Research raised First Busey Corp. from a “hold” rating to a “buy” rating and set a $25.00 target price on the stock in a report on Tuesday, August 2nd. Keefe, Bruyette & Woods raised their target price on First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, August 1st.
First Busey Corp. (NASDAQ:BUSE) traded down 0.22% during midday trading on Friday, hitting $22.21. The company had a trading volume of 26,262 shares. First Busey Corp. has a one year low of $17.68 and a one year high of $24.02. The company has a market cap of $848.51 million, a P/E ratio of 15.43 and a beta of 0.92. The company’s 50 day moving average is $23.10 and its 200-day moving average is $21.91.
First Busey Corp. (NASDAQ:BUSE) last issued its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share 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 analysts predict that First Busey Corp. will post $1.52 EPS for the current year.
In other news, Director Stanley J. Bradshaw acquired 1,603 shares of the firm’s stock in a transaction dated Friday, July 29th. The shares were bought at an average price of $22.97 per share, with a total value of $36,820.91. Following the acquisition, the director now owns 1,250 shares of the company’s stock, valued at $28,712.50. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 11.50% of the company’s stock.
Several hedge funds have recently made changes to their positions in the company. Huntington Asset Advisors Inc. purchased a new stake in shares of First Busey Corp. during the first quarter valued at $160,000. Royal Bank of Canada raised its stake in shares of First Busey Corp. by 455.5% in the second quarter. Royal Bank of Canada now owns 8,210 shares of the company’s stock valued at $176,000 after buying an additional 6,732 shares in the last quarter. BlackRock Inc. raised its stake in shares of First Busey Corp. by 484.2% in the second quarter. BlackRock Inc. now owns 9,406 shares of the company’s stock valued at $201,000 after buying an additional 7,796 shares in the last quarter. Contravisory Investment Management Inc. bought a new stake in shares of First Busey Corp. during the second quarter valued at approximately $222,000. Finally, Barr E S & Co. bought a new stake in shares of First Busey Corp. during the first quarter valued at approximately $222,000. 46.21% of the stock is currently owned by institutional investors.
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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