First Busey (NASDAQ:BUSE) Stock Rating Lowered by BidaskClub

BidaskClub downgraded shares of First Busey (NASDAQ:BUSE) from a sell rating to a strong sell rating in a research note published on Friday morning, BidAskClub reports.

A number of other analysts have also recently commented on BUSE. B. Riley upgraded First Busey from a neutral rating to a buy rating and boosted their price objective for the company from $27.00 to $29.00 in a research report on Thursday, January 9th. Zacks Investment Research cut First Busey from a hold rating to a sell rating in a research report on Wednesday, January 1st. Finally, DA Davidson restated a buy rating on shares of First Busey in a research report on Monday, November 18th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and two have assigned a buy rating to the stock. First Busey currently has a consensus rating of Hold and a consensus price target of $29.00.

First Busey stock opened at $26.66 on Friday. The stock has a market capitalization of $1.47 billion, a PE ratio of 14.26 and a beta of 0.98. First Busey has a 12 month low of $23.44 and a 12 month high of $28.00. The business has a 50 day simple moving average of $27.31 and a 200-day simple moving average of $26.16. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.87.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, January 31st. Stockholders of record on Friday, January 24th will be given a $0.22 dividend. The ex-dividend date is Thursday, January 23rd. This is a boost from First Busey’s previous quarterly dividend of $0.21. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.30%. First Busey’s payout ratio is 41.90%.

Institutional investors have recently bought and sold shares of the company. BlackRock Inc. increased its position in shares of First Busey by 12.9% in the second quarter. BlackRock Inc. now owns 3,682,186 shares of the bank’s stock valued at $97,246,000 after buying an additional 419,408 shares in the last quarter. A.R.T. Advisors LLC purchased a new stake in shares of First Busey during the second quarter worth approximately $210,000. Rhumbline Advisers increased its position in shares of First Busey by 9.6% during the third quarter. Rhumbline Advisers now owns 85,641 shares of the bank’s stock worth $2,165,000 after purchasing an additional 7,488 shares in the last quarter. State Street Corp increased its position in shares of First Busey by 1.1% during the third quarter. State Street Corp now owns 1,031,500 shares of the bank’s stock worth $26,076,000 after purchasing an additional 10,913 shares in the last quarter. Finally, Bank of New York Mellon Corp increased its position in shares of First Busey by 3.5% during the second quarter. Bank of New York Mellon Corp now owns 311,805 shares of the bank’s stock worth $8,235,000 after purchasing an additional 10,607 shares in the last quarter. Institutional investors and hedge funds own 46.30% 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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