First Busey Corp. (BUSE) Receives $23.00 Consensus PT from Analysts
Shares of First Busey Corp. (NASDAQ:BUSE) have received a consensus rating of “Buy” from the seven analysts that are presently covering the stock. Three investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The average twelve-month price objective among brokerages that have issued a report on the stock in the last year is $23.00.
A number of research analysts recently issued reports on the company. Zacks Investment Research upgraded First Busey Corp. from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research note on Friday, October 28th. Keefe, Bruyette & Woods lifted their target price on First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a research note on Monday, August 1st.
Hedge funds have recently bought and sold shares of the stock. Dimensional Fund Advisors LP increased its stake 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 worth $34,880,000 after buying an additional 561,723 shares during the period. Vanguard Group Inc. increased its stake 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 worth $26,931,000 after buying an additional 327,130 shares during the period. Skyline Asset Management LP increased its stake 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 worth $21,317,000 after buying an additional 41,955 shares during the period. BlackRock Institutional Trust Company N.A. increased its stake in First Busey Corp. by 4.1% in the third quarter. BlackRock Institutional Trust Company N.A. now owns 993,585 shares of the company’s stock worth $22,455,000 after buying an additional 39,279 shares during the period. Finally, BlackRock Fund Advisors increased its stake in First Busey Corp. by 7.7% in the third quarter. BlackRock Fund Advisors now owns 866,554 shares of the company’s stock worth $19,584,000 after buying an additional 62,075 shares during the period. Hedge funds and other institutional investors own 46.27% of the company’s stock.
Shares of First Busey Corp. (NASDAQ:BUSE) opened at 25.54 on Friday. The company has a market cap of $975.81 million, a PE ratio of 17.26 and a beta of 0.75. The firm’s 50-day moving average is $22.87 and its 200-day moving average is $22.38. First Busey Corp. has a 1-year low of $17.68 and a 1-year high of $25.90.
First Busey Corp. (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, October 25th. The company reported $0.40 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.40. First Busey Corp. had a return on equity of 10.42% and a net margin of 22.15%. On average, equities analysts forecast that First Busey Corp. will post $1.50 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 21st were paid a $0.17 dividend. The ex-dividend date was Wednesday, October 19th. This represents a $0.68 dividend on an annualized basis and a dividend yield of 2.66%. First Busey Corp.’s dividend payout ratio (DPR) is presently 46.26%.
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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