First Busey (NASDAQ:BUSE) Given New $28.00 Price Target at Piper Sandler

First Busey (NASDAQ:BUSEGet Free Report) had its price target lowered by investment analysts at Piper Sandler from $32.00 to $28.00 in a note issued to investors on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price objective points to a potential upside of 17.20% from the stock’s previous close.

A number of other brokerages have also issued reports on BUSE. Keefe, Bruyette & Woods raised their target price on shares of First Busey from $32.00 to $34.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 4th. Stephens restated an “equal weight” rating and set a $29.00 target price on shares of First Busey in a research report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $30.00.

View Our Latest Research Report on First Busey

First Busey Stock Performance

Shares of First Busey stock opened at $23.89 on Thursday. The firm has a market capitalization of $1.36 billion, a P/E ratio of 12.31 and a beta of 0.88. First Busey has a 52 week low of $21.59 and a 52 week high of $28.97. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22. The firm’s 50 day moving average is $24.64 and its two-hundred day moving average is $25.53.

First Busey (NASDAQ:BUSEGet Free Report) last announced its quarterly earnings results on Tuesday, January 28th. The bank reported $0.53 EPS for the quarter, beating the consensus estimate of $0.52 by $0.01. First Busey had a net margin of 16.94% and a return on equity of 8.94%. Research analysts forecast that First Busey will post 2.07 EPS for the current fiscal year.

Institutional Investors Weigh In On First Busey

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. State Street Corp lifted its holdings in First Busey by 0.4% in the third quarter. State Street Corp now owns 1,497,004 shares of the bank’s stock valued at $38,952,000 after acquiring an additional 6,367 shares during the period. Geode Capital Management LLC raised its stake in shares of First Busey by 1.7% during the 3rd quarter. Geode Capital Management LLC now owns 1,295,804 shares of the bank’s stock worth $33,723,000 after buying an additional 22,096 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of First Busey by 1.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 694,444 shares of the bank’s stock worth $18,069,000 after buying an additional 8,083 shares during the last quarter. JPMorgan Chase & Co. raised its stake in shares of First Busey by 9.0% during the 3rd quarter. JPMorgan Chase & Co. now owns 482,287 shares of the bank’s stock worth $12,549,000 after buying an additional 39,900 shares during the last quarter. Finally, Empowered Funds LLC raised its stake in shares of First Busey by 5.1% during the 4th quarter. Empowered Funds LLC now owns 201,745 shares of the bank’s stock worth $4,755,000 after buying an additional 9,811 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

About First Busey

(Get Free Report)

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.

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