First Busey Corp. (BUSE) Stock Rating Lowered by Zacks Investment Research
First Busey Corp. (NASDAQ:BUSE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
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 raised their target price on shares of First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a report on Monday, August 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.67.
Shares of First Busey Corp. (NASDAQ:BUSE) opened at 28.01 on Tuesday. First Busey Corp. has a 52-week low of $17.68 and a 52-week high of $28.09. The stock has a market capitalization of $1.07 billion, a P/E ratio of 18.93 and a beta of 0.75. The stock has a 50 day moving average of $23.84 and a 200-day moving average of $22.75.
First Busey Corp. (NASDAQ:BUSE) last posted its earnings results on Tuesday, October 25th. The company reported $0.40 earnings per share for the quarter, meeting analysts’ consensus estimates of $0.40. First Busey Corp. had a net margin of 22.15% and a return on equity of 10.42%. Analysts predict that First Busey Corp. will post $1.50 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 28th. Investors of record on Friday, October 21st were given a $0.17 dividend. The ex-dividend date of this dividend was Wednesday, October 19th. This represents a $0.68 dividend on an annualized basis and a yield of 2.43%. First Busey Corp.’s dividend payout ratio is presently 46.26%.
Hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can acquired a new stake in First Busey Corp. during the third quarter valued at $109,000. Victory Capital Management Inc. acquired a new stake in First Busey Corp. during the third quarter valued at $152,000. Royal Bank of Canada increased its stake in 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 during the period. SG Americas Securities LLC acquired a new stake in First Busey Corp. during the third quarter valued at $212,000. Finally, BlackRock Inc. increased its stake in 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 during the period. Institutional investors own 46.92% of the company’s stock.
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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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