Shares of First Busey Co. (NASDAQ:BUSE) have earned an average rating of “Hold” from the seven research firms that are covering the company, MarketBeat Ratings reports. Two research analysts have rated the stock with a sell rating, one has assigned a hold rating and four have issued a buy rating on the company. The average 12-month price objective among brokers that have updated their coverage on the stock in the last year is $33.33.
BUSE has been the topic of several recent research reports. BidaskClub lowered shares of First Busey from a “buy” rating to a “hold” rating in a research note on Saturday, June 30th. FIG Partners reiterated an “outperform” rating on shares of First Busey in a research note on Wednesday, July 25th. Zacks Investment Research upgraded shares of First Busey from a “sell” rating to a “hold” rating in a research note on Tuesday, July 31st. Finally, B. Riley set a $36.00 price target on shares of First Busey and gave the company a “buy” rating in a research note on Monday, October 15th.
Shares of BUSE stock opened at $27.37 on Thursday. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. First Busey has a 1 year low of $26.61 and a 1 year high of $33.25. The firm has a market capitalization of $1.34 billion, a price-to-earnings ratio of 13.75, a price-to-earnings-growth ratio of 2.13 and a beta of 0.97.
The firm also recently declared a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 19th were paid a $0.20 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.80 annualized dividend and a yield of 2.92%. First Busey’s payout ratio is currently 49.69%.
Hedge funds have recently modified their holdings of the business. Virginia Retirement Systems ET AL acquired a new stake in First Busey in the 2nd quarter valued at $209,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in shares of First Busey during the 1st quarter worth about $208,000. Quantitative Systematic Strategies LLC increased its stake in shares of First Busey by 35.4% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock worth $333,000 after purchasing an additional 2,747 shares during the last quarter. Xact Kapitalforvaltning AB increased its stake in shares of First Busey by 67.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,395 shares of the bank’s stock worth $398,000 after purchasing an additional 5,400 shares during the last quarter. Finally, Emerald Investment Partners LLC increased its stake in shares of First Busey by 44.9% during the 2nd quarter. Emerald Investment Partners LLC now owns 13,474 shares of the bank’s stock worth $427,000 after purchasing an additional 4,178 shares during the last quarter. Hedge funds and other institutional investors own 51.78% of the company’s stock.
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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