Zacks Investment Research upgraded shares of First Busey Corporation (NASDAQ:BUSE) from a hold rating to a buy rating in a research note released on Monday morning. The firm currently has $35.00 target price on the bank’s stock.

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. “

Other analysts have also recently issued research reports about the stock. BidaskClub upgraded shares of First Busey Corporation from a sell rating to a hold rating in a report on Saturday, June 10th. Piper Jaffray Companies set a $32.00 price objective on shares of First Busey Corporation and gave the company a hold rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and a consensus price target of $32.50.

Shares of First Busey Corporation (BUSE) opened at 31.83 on Monday. First Busey Corporation has a 12 month low of $21.80 and a 12 month high of $32.22. The firm has a market cap of $1.45 billion, a P/E ratio of 21.05 and a beta of 1.01. The stock’s 50 day moving average is $29.22 and its 200 day moving average is $29.31.

First Busey Corporation (NASDAQ:BUSE) last posted its earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.42 by $0.01. The firm had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $63.40 million. First Busey Corporation had a return on equity of 10.59% and a net margin of 22.04%. Equities research analysts expect that First Busey Corporation will post $1.74 EPS for the current year.

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In other news, insider Curt A. Anderson sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $29.40, for a total value of $41,160.00. Following the completion of the transaction, the insider now owns 43,482 shares in the company, valued at approximately $1,278,370.80. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 9.60% of the stock is currently owned by corporate insiders.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in BUSE. US Bancorp DE grew its stake in First Busey Corporation by 0.5% in the second quarter. US Bancorp DE now owns 4,951 shares of the bank’s stock worth $145,000 after purchasing an additional 23 shares during the period. Legal & General Group Plc raised its holdings in First Busey Corporation by 8.7% in the second quarter. Legal & General Group Plc now owns 7,995 shares of the bank’s stock worth $235,000 after purchasing an additional 639 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in First Busey Corporation by 3.3% in the second quarter. The Manufacturers Life Insurance Company now owns 24,480 shares of the bank’s stock worth $718,000 after purchasing an additional 787 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. raised its holdings in First Busey Corporation by 2.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,275 shares of the bank’s stock worth $978,000 after purchasing an additional 800 shares in the last quarter. Finally, Victory Capital Management Inc. raised its holdings in First Busey Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,608 shares of the bank’s stock worth $223,000 after purchasing an additional 1,139 shares in the last quarter. Institutional investors own 45.83% of the company’s stock.

About First Busey Corporation

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. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.

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