First Busey Corp. (BUSE) Lowered to “Hold” at 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 on Monday.
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 upped their price target on First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Four analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. The company has an average rating of “Hold” and a consensus price target of $23.67.
First Busey Corp. (NASDAQ:BUSE) traded down 1.32% on Monday, reaching $27.70. The company’s stock had a trading volume of 93,069 shares. The firm has a market cap of $1.06 billion, a PE ratio of 18.72 and a beta of 0.75. The stock’s 50 day moving average price is $24.05 and its 200 day moving average price is $22.81. First Busey Corp. has a 52-week low of $17.68 and a 52-week high of $28.11.
First Busey Corp. (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, October 25th. The company reported $0.40 EPS for the quarter, meeting analysts’ consensus estimates of $0.40. First Busey Corp. had a return on equity of 10.42% and a net margin of 22.15%. Equities research analysts expect that First Busey Corp. will post $1.50 earnings per share for the current fiscal year.
A number of hedge funds have recently modified their holdings of the company. Great West Life Assurance Co. Can bought a new stake in shares of First Busey Corp. during the third quarter worth about $109,000. Victory Capital Management Inc. bought a new stake in shares of First Busey Corp. during the third quarter worth about $152,000. Royal Bank of Canada boosted 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 worth $176,000 after buying an additional 6,732 shares during the period. BlackRock Inc. boosted 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 worth $201,000 after buying an additional 7,796 shares during the period. Finally, SG Americas Securities LLC acquired a new stake in First Busey Corp. during the third quarter valued at $212,000. 47.46% of the stock is currently owned by institutional investors and hedge funds.
First Busey Corp. Company Profile
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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