First Busey (NASDAQ:BUSE) Price Target Lowered to $25.00 at DA Davidson

First Busey (NASDAQ:BUSE) had its price target cut by stock analysts at DA Davidson from $28.00 to $25.00 in a research report issued on Thursday,Benzinga reports. The brokerage presently has a “neutral” rating on the bank’s stock. DA Davidson’s price objective indicates a potential upside of 1.96% from the company’s current price.

A number of other research analysts also recently issued reports on the company. Piper Sandler decreased their price objective on First Busey from $32.00 to $28.00 and set an “overweight” rating for the company in a report on Thursday. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $33.00 target price (down previously from $34.00) on shares of First Busey in a report on Thursday. Finally, Stephens reiterated an “equal weight” rating and set a $29.00 price objective on shares of First Busey in a research note on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, First Busey presently has an average rating of “Hold” and a consensus target price of $28.75.

First Busey Trading Up 2.6 %

Shares of BUSE stock traded up $0.63 during trading hours on Thursday, reaching $24.52. The company had a trading volume of 70,499 shares, compared to its average volume of 340,597. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82. First Busey has a 1-year low of $21.59 and a 1-year high of $28.97. The company has a 50 day moving average of $24.64 and a 200 day moving average of $25.53. The firm has a market cap of $1.39 billion, a price-to-earnings ratio of 12.65 and a beta of 0.88.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.53 earnings per share for the quarter, topping 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%. On average, equities research analysts anticipate that First Busey will post 2.07 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. State Street Corp increased its position in shares of First Busey by 0.4% during the third quarter. State Street Corp now owns 1,497,004 shares of the bank’s stock worth $38,952,000 after buying an additional 6,367 shares during the period. Geode Capital Management LLC lifted its stake in First Busey by 1.7% in the third quarter. Geode Capital Management LLC now owns 1,295,804 shares of the bank’s stock valued at $33,723,000 after buying an additional 22,096 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in First Busey by 1.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 694,444 shares of the bank’s stock worth $18,069,000 after purchasing an additional 8,083 shares during the period. JPMorgan Chase & Co. raised its stake in 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 period. Finally, Empowered Funds LLC raised its holdings in shares of First Busey by 5.1% in the fourth quarter. Empowered Funds LLC now owns 201,745 shares of the bank’s stock valued at $4,755,000 after purchasing an additional 9,811 shares during the last quarter. Institutional investors own 56.49% of the company’s stock.

First Busey Company Profile

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.