Zacks Investment Research downgraded shares of First Busey (NASDAQ:BUSE) from a hold rating to a sell rating in a report released on Monday morning, Zacks.com reports.

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. “

A number of other research analysts have also issued reports on BUSE. BidaskClub lowered Weyco Group from a sell rating to a strong sell rating in a report on Saturday, July 13th. Stephens started coverage on LiqTech International in a report on Tuesday, July 9th. They issued an overweight rating and a $13.00 target price for the company. Finally, B. Riley reiterated a neutral rating on shares of New York Community Bancorp in a report on Wednesday, April 10th. Three research analysts have rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company. The company presently has a consensus rating of Hold and a consensus price target of $30.50.

Shares of NASDAQ BUSE opened at $25.99 on Monday. First Busey has a twelve month low of $23.13 and a twelve month high of $32.89. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.85 and a quick ratio of 0.85. The company has a fifty day moving average price of $25.76. The firm has a market capitalization of $1.45 billion, a PE ratio of 12.38, a PEG ratio of 2.04 and a beta of 0.99.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.48 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). First Busey had a net margin of 25.94% and a return on equity of 10.23%. The firm had revenue of $94.33 million during the quarter, compared to analyst estimates of $96.24 million. As a group, analysts expect that First Busey will post 2.12 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 19th will be issued a $0.21 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.84 dividend on an annualized basis and a yield of 3.23%. First Busey’s dividend payout ratio (DPR) is presently 40.00%.

In other First Busey news, Director Stanley J. Bradshaw purchased 1,183 shares of the firm’s stock in a transaction on Thursday, May 30th. The stock was bought at an average cost of $24.95 per share, with a total value of $29,515.85. Following the acquisition, the director now directly owns 4,195 shares of the company’s stock, valued at $104,665.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stephen V. King purchased 48,910 shares of the firm’s stock in a transaction on Monday, May 6th. The shares were acquired at an average cost of $26.83 per share, with a total value of $1,312,255.30. Following the completion of the acquisition, the director now directly owns 7,357 shares in the company, valued at $197,388.31. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 70,460 shares of company stock valued at $1,872,337. 7.50% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citigroup Inc. lifted its holdings in First Busey by 166.5% during the 4th quarter. Citigroup Inc. now owns 9,248 shares of the bank’s stock worth $227,000 after buying an additional 5,778 shares during the last quarter. Dimensional Fund Advisors LP lifted its holdings in First Busey by 5.8% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,308,610 shares of the bank’s stock worth $56,653,000 after buying an additional 127,023 shares during the last quarter. Strs Ohio purchased a new stake in First Busey during the 1st quarter worth about $224,000. Bank of Edwardsville purchased a new stake in First Busey during the 1st quarter worth about $13,681,000. Finally, California Public Employees Retirement System lifted its holdings in First Busey by 31.8% during the 4th quarter. California Public Employees Retirement System now owns 88,031 shares of the bank’s stock worth $2,160,000 after buying an additional 21,232 shares during the last quarter. 45.89% of the stock is owned by institutional investors.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.

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