Brokerages Set First Busey Corporation (NASDAQ:BUSE) PT at $27.00

First Busey Corporation (NASDAQ:BUSE) has been assigned an average rating of “Moderate Buy” from the seven research firms that are covering the company, MarketBeat.com reports. Three analysts have rated the stock with a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price target among analysts that have updated their coverage on the stock in the last year is $27.00.

Several equities research analysts have commented on the stock. DA Davidson reaffirmed a “neutral” rating and set a $27.00 price objective on shares of First Busey in a report on Thursday, January 29th. Weiss Ratings upgraded shares of First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Tuesday, March 3rd. Finally, Piper Sandler lifted their price objective on shares of First Busey from $26.00 to $29.00 and gave the company an “overweight” rating in a research note on Friday, January 30th.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the stock. Parkside Financial Bank & Trust bought a new position in shares of First Busey in the fourth quarter valued at approximately $28,000. Litman Gregory Wealth Management LLC bought a new position in shares of First Busey in the fourth quarter worth $30,000. Allworth Financial LP increased its holdings 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 worth $38,000 after purchasing an additional 888 shares during the period. Torren Management LLC purchased a new stake in shares of First Busey in the fourth quarter worth $40,000. Finally, Geneos Wealth Management Inc. raised its position in shares of First Busey by 726.1% in the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after buying an additional 2,004 shares in the last quarter. Institutional investors own 56.49% of the company’s stock.

First Busey Stock Down 0.6%

Shares of NASDAQ BUSE opened at $24.90 on Wednesday. First Busey has a one year low of $18.40 and a one year high of $27.65. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91. The business’s fifty day moving average price is $25.44 and its 200-day moving average price is $24.33. The stock has a market capitalization of $2.15 billion, a PE ratio of 19.30 and a beta of 0.76.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.07. First Busey had a return on equity of 9.46% and a net margin of 12.96%.The company had revenue of $201.78 million during the quarter, compared to the consensus estimate of $197.70 million. On average, equities research analysts anticipate that First Busey will post 2.61 EPS for the current year.

First Busey Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 30th. Investors of record on Friday, January 23rd were paid a dividend of $0.26 per share. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, January 23rd. This is a positive change from First Busey’s previous quarterly dividend of $0.25. First Busey’s dividend payout ratio is presently 80.62%.

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.