First Busey (NASDAQ:BUSE) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

First Busey (NASDAQ:BUSE) had its price target boosted by research analysts at Keefe, Bruyette & Woods from $32.00 to $34.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price points to a potential upside of 8.70% from the company’s previous close.

BUSE has been the subject of several other research reports. Raymond James Financial increased their price objective on shares of First Busey from $28.00 to $32.00 and gave the company an “outperform” rating in a research note on Wednesday, July 1st. Wall Street Zen downgraded First Busey from a “hold” rating to a “sell” rating in a research note on Sunday, July 12th. Piper Sandler increased their price target on First Busey from $32.00 to $35.00 and gave the company an “overweight” rating in a research report on Thursday. Stephens lifted their price target on First Busey from $27.00 to $28.00 and gave the stock an “equal weight” rating in a report on Thursday, April 30th. Finally, Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat.com, First Busey has a consensus rating of “Moderate Buy” and an average target price of $32.00.

First Busey Stock Performance

NASDAQ BUSE opened at $31.28 on Friday. First Busey has a 1 year low of $21.63 and a 1 year high of $31.34. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of 12.93 and a beta of 0.72. The company has a fifty day moving average price of $28.83 and a 200-day moving average price of $26.81.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. First Busey had a net margin of 21.00% and a return on equity of 10.42%. The company had revenue of $194.27 million for the quarter, compared to analyst estimates of $197.59 million. As a group, equities research analysts predict that First Busey will post 2.6 EPS for the current fiscal year.

Insider Buying and Selling at First Busey

In related news, CAO Scott A. Phillips bought 5,000 shares of First Busey stock in a transaction dated Monday, May 4th. The stock was purchased at an average cost of $25.90 per share, with a total value of $129,500.00. Following the transaction, the chief accounting officer directly owned 8,350 shares of the company’s stock, valued at approximately $216,265. The trade was a 149.25% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 3.77% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On First Busey

A number of hedge funds have recently modified their holdings of the stock. Parkside Financial Bank & Trust bought a new position in First Busey during the fourth quarter valued at $28,000. Litman Gregory Wealth Management LLC purchased a new stake in First Busey in the fourth quarter worth $30,000. Allworth Financial LP raised its stake in shares of First Busey by 127.8% in the fourth quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after buying an additional 888 shares during the period. Torren Management LLC bought a new stake in shares of First Busey in the fourth quarter valued at $40,000. Finally, Geneos Wealth Management Inc. lifted its position in shares of First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after buying an additional 2,004 shares during the last quarter. Institutional investors own 56.49% of the company’s stock.

First Busey Company Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.