First Busey Corp. (NASDAQ:BUSE) has been assigned an average recommendation of “Hold” from the seven brokerages that are currently covering the company. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation and three have given a buy recommendation to the company. The average 12 month target price among analysts that have covered the stock in the last year is $22.40.
A number of brokerages recently issued reports on BUSE. Zacks Investment Research downgraded First Busey Corp. from a “hold” rating to a “sell” rating in a research report on Monday, October 3rd. Keefe, Bruyette & Woods increased their price target on First Busey Corp. from $22.00 to $23.00 and gave the stock a “market perform” rating in a research report on Monday, August 1st.
In other First Busey Corp. news, Director Stanley J. Bradshaw bought 1,603 shares of the business’s stock in a transaction on Friday, July 29th. The stock was purchased at an average cost of $22.97 per share, for a total transaction of $36,820.91. Following the completion of the purchase, the director now directly owns 1,250 shares of the company’s stock, valued at $28,712.50. The acquisition was disclosed in a filing with the SEC, which is available at this link. Company insiders own 11.50% of the company’s stock.
Several hedge funds and other institutional investors have recently made changes to their positions in BUSE. Royal Bank of Canada boosted its position 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 last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of First Busey Corp. by 24.8% in the second quarter. Schwab Charles Investment Management Inc. now owns 106,366 shares of the company’s stock worth $2,276,000 after buying an additional 21,152 shares during the last quarter. American Century Companies Inc. boosted its position in shares of First Busey Corp. by 47.7% in the second quarter. American Century Companies Inc. now owns 73,254 shares of the company’s stock worth $1,567,000 after buying an additional 23,658 shares during the last quarter. Metropolitan Life Insurance Co. NY boosted its position in shares of First Busey Corp. by 25.7% in the second quarter. Metropolitan Life Insurance Co. NY now owns 22,996 shares of the company’s stock worth $492,000 after buying an additional 4,706 shares during the last quarter. Finally, Highbridge Capital Management LLC purchased a new position in shares of First Busey Corp. during the second quarter worth approximately $242,000. Institutional investors own 46.21% of the company’s stock.
Shares of First Busey Corp. (NASDAQ:BUSE) opened at 21.99 on Friday. First Busey Corp. has a 1-year low of $17.68 and a 1-year high of $24.02. The firm has a market capitalization of $840.11 million, a PE ratio of 15.28 and a beta of 0.92. The stock has a 50 day moving average price of $22.97 and a 200 day moving average price of $21.95.
First Busey Corp. (NASDAQ:BUSE) last posted its earnings results on Thursday, July 28th. The company reported $0.35 EPS for the quarter, missing the consensus estimate of $0.37 by $0.02. First Busey Corp. had a net margin of 22.23% and a return on equity of 10.66%. Equities research analysts anticipate that First Busey Corp. will post $1.52 earnings per share for the current fiscal year.
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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