BidaskClub Lowers First Busey (BUSE) to Sell

BidaskClub cut shares of First Busey (NASDAQ:BUSE) from a hold rating to a sell rating in a research report report published on Tuesday morning.

Other analysts also recently issued reports about the stock. Zacks Investment Research upgraded shares of First Busey from a sell rating to a buy rating and set a $33.00 target price on the stock in a report on Wednesday, October 17th. B. Riley set a $36.00 target price on shares of First Busey and gave the stock a buy rating in a report on Monday, October 15th. FIG Partners restated an outperform rating on shares of First Busey in a report on Wednesday, July 25th. Finally, ValuEngine downgraded shares of First Busey from a hold rating to a sell rating in a report on Friday, October 19th. Two analysts have rated the stock with a sell rating, one has assigned a hold rating and four have given a buy rating to the company. The company has a consensus rating of Hold and a consensus price target of $33.00.

Shares of First Busey stock traded down $0.09 during trading hours on Tuesday, reaching $27.28. The company’s stock had a trading volume of 4,215 shares, compared to its average volume of 128,520. First Busey has a one year low of $26.61 and a one year high of $33.25. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.24. The company has a market cap of $1.36 billion, a PE ratio of 16.81, a price-to-earnings-growth ratio of 2.17 and a beta of 0.97.



First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, October 23rd. The bank reported $0.55 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.55. First Busey had a net margin of 21.51% and a return on equity of 9.97%. The firm had revenue of $82.63 million for the quarter, compared to the consensus estimate of $85.16 million. As a group, sell-side analysts expect that First Busey will post 2.14 earnings per share for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 26th. Investors of record on Friday, October 19th will be paid a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, October 18th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.93%. First Busey’s dividend payout ratio is presently 49.69%.

Several hedge funds have recently added to or reduced their stakes in BUSE. Wells Fargo & Company MN boosted its stake in shares of First Busey by 4.4% during the 1st quarter. Wells Fargo & Company MN now owns 68,963 shares of the bank’s stock worth $2,049,000 after purchasing an additional 2,878 shares during the period. BlackRock Inc. boosted its stake in shares of First Busey by 0.6% during the 1st quarter. BlackRock Inc. now owns 2,544,774 shares of the bank’s stock worth $75,632,000 after purchasing an additional 14,792 shares during the period. Millennium Management LLC boosted its stake in shares of First Busey by 84.9% during the 1st quarter. Millennium Management LLC now owns 492,388 shares of the bank’s stock worth $14,634,000 after purchasing an additional 226,143 shares during the period. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp purchased a new position in shares of First Busey during the 1st quarter worth about $208,000. Finally, Royal Bank of Canada boosted its stake in shares of First Busey by 13.0% during the 1st quarter. Royal Bank of Canada now owns 134,350 shares of the bank’s stock worth $3,993,000 after purchasing an additional 15,495 shares during the period. 51.78% of the stock is owned by hedge funds and other institutional investors.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.

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