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

First Busey Co. (NASDAQ:BUSE) has been given an average rating of “Hold” by the eight research firms that are covering the company, MarketBeat reports. Two analysts have rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $25.50.

A number of analysts have weighed in on the stock. ValuEngine cut shares of First Busey from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. BidaskClub lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday, September 15th. Raymond James restated a “hold” rating on shares of First Busey in a research report on Friday, August 14th. Finally, Zacks Investment Research upgraded shares of First Busey from a “strong sell” rating to a “hold” rating in a research report on Tuesday, June 30th.

BUSE stock traded down $0.43 during midday trading on Wednesday, reaching $15.31. 190,743 shares of the company were exchanged, compared to its average volume of 170,888. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.91. First Busey has a 1-year low of $11.00 and a 1-year high of $28.00. The stock’s 50-day simple moving average is $17.72 and its 200 day simple moving average is $17.42. The company has a market cap of $834.64 million, a price-to-earnings ratio of 9.15 and a beta of 1.12.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, July 28th. The bank reported $0.47 earnings per share for the quarter, topping analysts’ consensus estimates of $0.26 by $0.21. First Busey had a net margin of 20.37% and a return on equity of 8.51%. The company had revenue of $98.78 million for the quarter, compared to analysts’ expectations of $98.26 million. On average, research analysts anticipate that First Busey will post 1.63 earnings per share for the current year.

In other news, Director Stephen V. King acquired 27,058 shares of the stock in a transaction that occurred on Friday, August 14th. The shares were purchased at an average cost of $18.44 per share, for a total transaction of $498,949.52. Following the transaction, the director now directly owns 12,936 shares in the company, valued at approximately $238,539.84. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Stanley J. Bradshaw acquired 2,100 shares of the stock in a transaction that occurred on Friday, July 31st. The stock was purchased at an average price of $16.80 per share, for a total transaction of $35,280.00. Following the completion of the transaction, the director now owns 9,491 shares in the company, valued at $159,448.80. The disclosure for this purchase can be found here. Over the last quarter, insiders purchased 30,358 shares of company stock worth $554,030. 7.50% of the stock is currently owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of the business. Woodley Farra Manion Portfolio Management Inc. boosted its position in shares of First Busey by 32.0% during the 2nd quarter. Woodley Farra Manion Portfolio Management Inc. now owns 2,477 shares of the bank’s stock worth $46,000 after purchasing an additional 600 shares in the last quarter. Swiss National Bank boosted its position in shares of First Busey by 0.7% during the 1st quarter. Swiss National Bank now owns 96,099 shares of the bank’s stock worth $1,644,000 after purchasing an additional 700 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of First Busey by 0.4% during the 1st quarter. Victory Capital Management Inc. now owns 190,289 shares of the bank’s stock worth $3,256,000 after purchasing an additional 794 shares in the last quarter. Commonwealth Equity Services LLC boosted its position in shares of First Busey by 3.7% during the 1st quarter. Commonwealth Equity Services LLC now owns 22,271 shares of the bank’s stock worth $381,000 after purchasing an additional 800 shares in the last quarter. Finally, Macquarie Group Ltd. boosted its position in shares of First Busey by 2.2% during the 2nd quarter. Macquarie Group Ltd. now owns 46,198 shares of the bank’s stock worth $862,000 after purchasing an additional 998 shares in the last quarter. Institutional investors own 46.82% 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.

Featured Article: Preferred Stock

Receive News & Ratings for First Busey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Busey and related companies with MarketBeat.com's FREE daily email newsletter.