First Busey (NASDAQ:BUSE) Upgraded by Wall Street Zen to Hold Rating

Wall Street Zen upgraded shares of First Busey (NASDAQ:BUSE) from a sell rating to a hold rating in a research note issued to investors on Saturday morning.

A number of other research analysts have also weighed in on BUSE. Piper Sandler lifted their target price on First Busey from $32.00 to $35.00 and gave the company an “overweight” rating in a report on Thursday. Keefe, Bruyette & Woods increased their price target on shares of First Busey from $32.00 to $34.00 and gave the stock an “outperform” rating in a report on Friday. Weiss Ratings upgraded shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Zacks Research raised shares of First Busey from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. Finally, DA Davidson boosted their price objective on shares of First Busey from $30.00 to $31.00 and gave the company a “neutral” rating in a research note on Thursday. One analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $32.00.

First Busey Price Performance

First Busey stock opened at $30.86 on Friday. The firm has a market capitalization of $2.61 billion, a P/E ratio of 12.75 and a beta of 0.72. First Busey has a one year low of $21.63 and a one year high of $31.43. 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 business has a fifty day moving average price of $28.90 and a 200-day moving average price of $26.84.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $0.69 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.63 by $0.06. The company had revenue of $194.27 million for the quarter, compared to analyst estimates of $197.59 million. First Busey had a return on equity of 10.42% and a net margin of 21.00%. As a group, equities research analysts forecast that First Busey will post 2.67 EPS for the current year.

First Busey Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Shareholders of record on Friday, July 24th were paid a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a yield of 3.4%. The ex-dividend date was Friday, July 24th. First Busey’s dividend payout ratio is currently 42.98%.

Insider Buying and Selling at First Busey

In other First Busey news, CAO Scott A. Phillips purchased 5,000 shares of the company’s stock in a transaction dated Monday, May 4th. The stock was purchased at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the transaction, the chief accounting officer owned 8,350 shares in the company, valued at $216,265. The trade was a 149.25% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 3.77% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Busey

Institutional investors and hedge funds have recently bought and sold shares of the stock. Royal Bank of Canada grew its stake in First Busey by 95.9% in the 1st quarter. Royal Bank of Canada now owns 18,143 shares of the bank’s stock worth $392,000 after buying an additional 8,884 shares in the last quarter. AQR Capital Management LLC raised its position in shares of First Busey by 16.8% during the 1st quarter. AQR Capital Management LLC now owns 198,945 shares of the bank’s stock valued at $4,297,000 after buying an additional 28,605 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of First Busey by 64.1% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 49,724 shares of the bank’s stock valued at $1,074,000 after buying an additional 19,431 shares in the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of First Busey by 9.0% during the 1st quarter. Goldman Sachs Group Inc. now owns 469,310 shares of the bank’s stock worth $10,137,000 after acquiring an additional 38,773 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its holdings in shares of First Busey by 78.4% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank’s stock worth $4,796,000 after acquiring an additional 97,560 shares during the last quarter. 56.49% of the stock is owned by hedge funds and other institutional investors.

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.