First Busey (NASDAQ:BUSE) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research report issued on Tuesday.
According to Zacks, “First Busey Corporation is a financial holding company located in Urbana, Illinois. First Busey is engaged primarily in commercial, retail and correspondent banking and provides trust services, insurance services, and travel services. “
A number of other equities analysts also recently weighed in on BUSE. Keefe, Bruyette & Woods raised shares of First Busey from a “market perform” rating to an “outperform” rating in a report on Thursday, May 31st. BidaskClub raised shares of First Busey from a “hold” rating to a “buy” rating in a report on Saturday, June 2nd. B. Riley boosted their price target on shares of First Busey from $35.00 to $36.00 and gave the stock a “buy” rating in a report on Tuesday, June 19th. Finally, FIG Partners reissued an “outperform” rating on shares of First Busey in a report on Wednesday, July 25th. Two research analysts have rated the stock with a sell rating, three have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $33.80.
NASDAQ BUSE opened at $30.78 on Tuesday. First Busey has a 1 year low of $28.34 and a 1 year high of $33.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.87. The firm has a market capitalization of $1.51 billion, a PE ratio of 19.29, a PEG ratio of 2.42 and a beta of 0.99.
First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, July 24th. The bank reported $0.51 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.53 by ($0.02). The company had revenue of $83.17 million during the quarter, compared to analysts’ expectations of $84.85 million. First Busey had a return on equity of 9.97% and a net margin of 21.51%. analysts forecast that First Busey will post 2.14 earnings per share for the current fiscal year.
Several large investors have recently modified their holdings of BUSE. BlackRock Inc. boosted its holdings in shares of First Busey by 10.5% in the 2nd quarter. BlackRock Inc. now owns 2,812,785 shares of the bank’s stock worth $89,220,000 after buying an additional 268,011 shares during the last quarter. Millennium Management LLC lifted its holdings in First Busey by 84.9% during the first quarter. Millennium Management LLC now owns 492,388 shares of the bank’s stock valued at $14,634,000 after purchasing an additional 226,143 shares during the last quarter. Deprince Race & Zollo Inc. purchased a new stake in First Busey during the second quarter valued at about $5,945,000. Nuveen Asset Management LLC lifted its holdings in First Busey by 18.5% during the first quarter. Nuveen Asset Management LLC now owns 1,116,471 shares of the bank’s stock valued at $33,182,000 after purchasing an additional 174,531 shares during the last quarter. Finally, Maltese Capital Management LLC purchased a new stake in First Busey during the first quarter valued at about $4,904,000. 49.37% of the stock is currently owned by 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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