First Busey (BUSE) Upgraded to “Hold” by BidaskClub

BidaskClub upgraded shares of First Busey (NASDAQ:BUSE) from a sell rating to a hold rating in a research note published on Tuesday morning.

BUSE has been the topic of several other reports. Zacks Investment Research upgraded shares of First Busey from a hold rating to a buy rating and set a $31.00 price objective on the stock in a report on Wednesday, October 24th. ValuEngine lowered shares of First Busey from a hold rating to a sell rating in a report on Friday, October 19th. FIG Partners reiterated an outperform rating on shares of First Busey in a report on Wednesday, July 25th. Finally, B. Riley set a $36.00 price objective on shares of First Busey and gave the stock a buy rating in a report on Monday, October 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock has a consensus rating of Hold and a consensus price target of $33.33.

Shares of BUSE stock opened at $28.26 on Tuesday. The stock has a market cap of $1.34 billion, a PE ratio of 14.06, a P/E/G ratio of 2.18 and a beta of 0.97. First Busey has a 1-year low of $26.61 and a 1-year high of $33.25. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.88.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. The business had revenue of $82.63 million for the quarter, compared to analyst estimates of $85.16 million. First Busey had a net margin of 23.02% and a return on equity of 10.36%. Analysts forecast that First Busey will post 2.13 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 19th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.83%. The ex-dividend date was Thursday, October 18th. First Busey’s dividend payout ratio (DPR) is presently 49.69%.

Institutional investors and hedge funds have recently bought and sold shares of the stock. Russell Investments Group Ltd. lifted its stake in First Busey by 385.1% in the third quarter. Russell Investments Group Ltd. now owns 316,572 shares of the bank’s stock valued at $9,828,000 after buying an additional 251,308 shares during the last quarter. Deprince Race & Zollo Inc. lifted its stake in First Busey by 401.9% in the third quarter. Deprince Race & Zollo Inc. now owns 940,676 shares of the bank’s stock valued at $29,208,000 after buying an additional 753,254 shares during the last quarter. United Services Automobile Association lifted its stake in First Busey by 26.6% in the second quarter. United Services Automobile Association now owns 461,927 shares of the bank’s stock valued at $14,652,000 after buying an additional 96,930 shares during the last quarter. Northern Trust Corp lifted its stake in First Busey by 3.2% in the second quarter. Northern Trust Corp now owns 804,481 shares of the bank’s stock valued at $25,518,000 after buying an additional 24,820 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its stake in First Busey by 1.9% in the second quarter. Bank of New York Mellon Corp now owns 286,354 shares of the bank’s stock valued at $9,083,000 after buying an additional 5,432 shares during the last quarter. 51.71% of the stock is owned by hedge funds and other institutional investors.

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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