First Busey (BUSE) Raised to “Buy” at B. Riley

First Busey (NASDAQ:BUSE) was upgraded by equities researchers at B. Riley from a “neutral” rating to a “buy” rating in a research report issued to clients and investors on Tuesday, Marketbeat.com reports. The firm currently has a $35.00 price objective on the bank’s stock, down from their previous price objective of $36.00. B. Riley’s target price suggests a potential upside of 15.66% from the company’s previous close.

A number of other equities analysts have also commented on BUSE. FBR & Co reissued a “neutral” rating and issued a $34.00 price target (up previously from $32.00) on shares of First Busey in a report on Wednesday, October 25th. Keefe, Bruyette & Woods reissued a “hold” rating and issued a $32.00 price target on shares of First Busey in a report on Thursday, October 26th. Zacks Investment Research raised shares of First Busey from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. ValuEngine lowered shares of First Busey from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Finally, BidaskClub lowered shares of First Busey from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. Five analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $33.60.

First Busey (NASDAQ:BUSE) opened at $30.26 on Tuesday. The company has a market cap of $1,467.37, a price-to-earnings ratio of 17.73, a PEG ratio of 2.22 and a beta of 1.03. First Busey has a twelve month low of $27.33 and a twelve month high of $32.88. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.05). The company had revenue of $86.61 million during the quarter, compared to the consensus estimate of $82.39 million. First Busey had a return on equity of 10.75% and a net margin of 20.31%. equities research analysts expect that First Busey will post 2.26 earnings per share for the current fiscal year.

Several hedge funds have recently added to or reduced their stakes in the stock. Legal & General Group Plc grew its holdings in shares of First Busey by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 7,995 shares of the bank’s stock valued at $235,000 after purchasing an additional 639 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of First Busey by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,480 shares of the bank’s stock valued at $718,000 after purchasing an additional 787 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of First Busey by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 155,566 shares of the bank’s stock valued at $4,562,000 after purchasing an additional 1,661 shares during the last quarter. Citigroup Inc. grew its holdings in shares of First Busey by 45.5% during the 2nd quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock valued at $188,000 after purchasing an additional 2,009 shares during the last quarter. Finally, Voya Investment Management LLC grew its holdings in shares of First Busey by 16.8% during the 2nd quarter. Voya Investment Management LLC now owns 14,499 shares of the bank’s stock valued at $425,000 after purchasing an additional 2,089 shares during the last quarter. 46.12% of the stock is currently owned by institutional investors.

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About First Busey

First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.

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