First Busey Corporation (NASDAQ:BUSE) Receives $27.50 Consensus Price Target from Analysts

Shares of First Busey Corporation (NASDAQ:BUSE) have been given a consensus rating of “Moderate Buy” by the seven analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average twelve-month target price among brokers that have covered the stock in the last year is $27.50.

A number of equities research analysts have commented on BUSE shares. Piper Sandler increased their price objective on shares of First Busey from $29.00 to $30.00 and gave the company an “overweight” rating in a research report on Thursday, April 30th. Weiss Ratings raised shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, May 11th. Finally, Stephens increased their price objective on shares of First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research report on Thursday, April 30th.

First Busey Price Performance

First Busey stock opened at $27.58 on Monday. The firm has a market cap of $2.33 billion, a PE ratio of 12.26 and a beta of 0.72. First Busey has a 52-week low of $21.63 and a 52-week high of $27.88. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.12. The company’s 50 day moving average is $26.43 and its two-hundred day moving average is $25.37.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, April 28th. The bank reported $0.67 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.10. The company had revenue of $197.17 million for the quarter, compared to analyst estimates of $197.15 million. First Busey had a net margin of 19.16% and a return on equity of 10.19%. On average, research analysts expect that First Busey will post 2.57 EPS for the current fiscal year.

First Busey Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, May 1st. Shareholders of record on Friday, April 24th were given a $0.26 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.04 dividend on an annualized basis and a dividend yield of 3.8%. First Busey’s dividend payout ratio is currently 46.22%.

Insider Activity at First Busey

In other news, CAO Scott A. Phillips acquired 5,000 shares of the company’s stock in a transaction on Monday, May 4th. The shares were bought at an average cost of $25.90 per share, with a total value of $129,500.00. Following the transaction, the chief accounting officer owned 8,350 shares in the company, valued at approximately $216,265. This trade represents a 149.25% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.77% of the company’s stock.

Institutional Investors Weigh In On First Busey

A number of large investors have recently modified their holdings of the company. Parkside Financial Bank & Trust purchased a new position in shares of First Busey in the 4th quarter valued at $28,000. Litman Gregory Wealth Management LLC purchased a new position in shares of First Busey in the 4th quarter valued at $30,000. Allworth Financial LP grew its position in shares of First Busey by 127.8% in the 4th 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 last quarter. Torren Management LLC purchased a new position in shares of First Busey in the 4th quarter valued at $40,000. Finally, Geneos Wealth Management Inc. grew its position in shares of First Busey by 726.1% in 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. 56.49% of the stock is owned by hedge funds and other institutional investors.

About First Busey

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.