First Busey Co. (NASDAQ:BUSE) Given Average Rating of “Hold” by Analysts

First Busey Co. (NASDAQ:BUSE) has received an average rating of “Hold” from the seven ratings firms that are currently covering the stock, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company. The average 12-month price target among analysts that have updated their coverage on the stock in the last year is $25.50.

A number of equities analysts recently issued reports on the company. ValuEngine upgraded First Busey from a “sell” rating to a “hold” rating in a report on Monday, June 1st. Zacks Investment Research upgraded First Busey from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Stephens upgraded First Busey from an “equal weight” rating to an “overweight” rating in a research note on Thursday, April 9th. B. Riley decreased their price objective on First Busey from $29.00 to $22.00 and set a “neutral” rating on the stock in a report on Monday, April 13th. Finally, BidaskClub cut First Busey from a “hold” rating to a “sell” rating in a research report on Saturday, June 13th.

Shares of First Busey stock opened at $17.10 on Tuesday. First Busey has a fifty-two week low of $11.00 and a fifty-two week high of $28.00. The firm has a market cap of $930.26 million, a PE ratio of 9.94 and a beta of 1.14. The company has a quick ratio of 0.86, a current ratio of 0.86 and a debt-to-equity ratio of 0.18. The business’s fifty day moving average is $17.56 and its two-hundred day moving average is $19.56.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, July 28th. The bank reported $0.47 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.21. The company had revenue of $98.78 million during the quarter, compared to analyst estimates of $98.26 million. First Busey had a net margin of 20.37% and a return on equity of 8.54%. Equities research analysts anticipate that First Busey will post 1.52 EPS for the current year.

The company also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were paid a dividend of $0.22 per share. The ex-dividend date was Thursday, July 23rd. This represents a $0.88 dividend on an annualized basis and a dividend yield of 5.15%. First Busey’s dividend payout ratio (DPR) is currently 40.93%.

In related news, Director Stanley J. Bradshaw acquired 5,800 shares of the firm’s stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average cost of $15.69 per share, for a total transaction of $91,002.00. Following the completion of the acquisition, the director now directly owns 6,288 shares of the company’s stock, valued at approximately $98,658.72. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Stanley J. Bradshaw acquired 4,198 shares of the business’s stock in a transaction that occurred on Thursday, May 14th. The stock was bought at an average cost of $14.50 per share, for a total transaction of $60,871.00. Following the completion of the purchase, the director now owns 6,288 shares of the company’s stock, valued at $91,176. The disclosure for this purchase can be found here. Corporate insiders own 7.50% of the company’s stock.

Institutional investors and hedge funds have recently modified their holdings of the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Busey by 28.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,184 shares of the bank’s stock worth $89,000 after acquiring an additional 1,140 shares in the last quarter. Advisor Group Holdings Inc. bought a new position in shares of First Busey in the 1st quarter worth $128,000. Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in shares of First Busey by 75.8% during the 2nd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,114 shares of the bank’s stock valued at $170,000 after buying an additional 3,930 shares in the last quarter. Arizona State Retirement System bought a new stake in First Busey in the first quarter valued at approximately $199,000. Finally, Stifel Financial Corp bought a new stake in shares of First Busey in the 4th quarter worth approximately $203,000. Institutional investors own 45.84% of the company’s stock.

About First Busey

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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