First Busey (BUSE) Downgraded by Zacks Investment Research

Zacks Investment Research downgraded shares of First Busey (NASDAQ:BUSE) from a hold rating to a sell rating in a report issued on Tuesday morning.

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. “

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Other equities analysts have also issued research reports about the company. BidaskClub raised First Busey from a sell rating to a hold rating in a report on Thursday, January 11th. B. Riley raised First Busey from a neutral rating to a buy rating and lowered their price objective for the company from $36.00 to $35.00 in a report on Tuesday, February 6th. Finally, Piper Jaffray reaffirmed a hold rating and issued a $33.00 price objective on shares of First Busey in a report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and one has given a buy rating to the company. The stock presently has an average rating of Hold and an average target price of $33.60.

Shares of NASDAQ BUSE traded down $0.11 during midday trading on Tuesday, reaching $30.35. 3,603 shares of the company were exchanged, compared to its average volume of 133,544. The company has a quick ratio of 0.87, a current ratio of 0.89 and a debt-to-equity ratio of 0.24. First Busey has a 1 year low of $27.33 and a 1 year high of $32.88. The firm has a market cap of $1,469.51, a P/E ratio of 17.75, a P/E/G ratio of 2.24 and a beta of 1.04.

First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, January 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.05). First Busey had a return on equity of 9.84% and a net margin of 20.31%. The company had revenue of $86.61 million for the quarter, compared to analysts’ expectations of $82.39 million. analysts anticipate that First Busey will post 2.25 earnings per share for the current year.

Institutional investors and hedge funds have recently made changes to their positions in the business. Magnetar Financial LLC purchased a new stake in First Busey in the 3rd quarter valued at approximately $204,000. Xact Kapitalforvaltning AB purchased a new stake in First Busey in the 4th quarter valued at approximately $239,000. LPL Financial LLC purchased a new stake in First Busey in the 4th quarter valued at approximately $281,000. Legal & General Group Plc boosted its holdings in First Busey by 24.0% in the 3rd quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock valued at $311,000 after purchasing an additional 1,918 shares in the last quarter. Finally, US Bancorp DE boosted its holdings in First Busey by 168.6% in the 4th quarter. US Bancorp DE now owns 11,678 shares of the bank’s stock valued at $349,000 after purchasing an additional 7,331 shares in the last quarter. 47.16% of the stock is currently owned by institutional investors.

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About First Busey

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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