First Busey Co. (NASDAQ:BUSE) has been given a consensus rating of “Hold” by the seven brokerages that are currently covering the firm, Marketbeat Ratings reports. Six research analysts have rated the stock with a hold recommendation and one has assigned a buy recommendation to the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $33.50.
BUSE has been the topic of a number of analyst reports. Zacks Investment Research upgraded First Busey from a “hold” rating to a “buy” rating and set a $34.00 price target on the stock in a report on Monday, January 1st. BidaskClub downgraded First Busey from a “hold” rating to a “sell” rating in a report on Friday, January 26th. Piper Jaffray Companies reiterated a “hold” rating and issued a $33.00 price target on shares of First Busey in a report on Tuesday, January 9th. Finally, B. Riley upgraded First Busey from a “neutral” rating to a “buy” rating and cut their price target for the company from $36.00 to $35.00 in a report on Tuesday, February 6th.
Large investors have recently made changes to their positions in the company. Magnetar Financial LLC purchased a new position in shares of First Busey in the 3rd quarter valued at $204,000. Vestor Capital LLC purchased a new position in First Busey during the 3rd quarter worth $224,000. Xact Kapitalforvaltning AB purchased a new position in First Busey during the 4th quarter worth $239,000. LPL Financial LLC purchased a new position in First Busey during the 4th quarter worth $281,000. Finally, Legal & General Group Plc grew its stake in First Busey by 24.0% during the 3rd quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock worth $311,000 after buying an additional 1,918 shares during the last quarter. Institutional investors and hedge funds own 47.20% of the company’s stock.
First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, January 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.05). First Busey had a net margin of 20.31% and a return on equity of 9.84%. The company had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $82.39 million. equities research analysts predict that First Busey will post 2.27 earnings per share for the current year.
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First Busey Company Profile
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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