First Busey (NASDAQ:BUSE) Downgraded by BidaskClub

First Busey (NASDAQ:BUSE) was downgraded by research analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Tuesday, BidAskClub reports.

BUSE has been the topic of several other research reports. Raymond James restated a “hold” rating on shares of First Busey in a report on Friday, August 14th. Zacks Investment Research upgraded First Busey from a “strong sell” rating to a “hold” rating in a report on Tuesday, June 30th. Finally, ValuEngine cut First Busey from a “hold” rating to a “sell” rating in a report on Monday, August 3rd. Two investment analysts have rated the stock with a sell rating, four have issued a hold rating and one has assigned a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $25.50.

BUSE stock opened at $17.12 on Tuesday. First Busey has a 52-week low of $11.00 and a 52-week high of $28.00. The stock’s fifty day simple moving average is $17.76 and its 200-day simple moving average is $17.58. The company has a quick ratio of 0.90, a current ratio of 0.91 and a debt-to-equity ratio of 0.27. The stock has a market capitalization of $933.31 million, a price-to-earnings ratio of 9.95 and a beta of 1.12.

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

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

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. lifted its stake in shares of First Busey by 1.6% during the first quarter. BlackRock Inc. now owns 3,763,403 shares of the bank’s stock worth $64,392,000 after purchasing an additional 59,422 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of First Busey by 1.9% during the first quarter. Wellington Management Group LLP now owns 2,687,514 shares of the bank’s stock worth $45,983,000 after purchasing an additional 50,195 shares in the last quarter. Vanguard Group Inc. lifted its stake in shares of First Busey by 0.6% during the second quarter. Vanguard Group Inc. now owns 2,564,048 shares of the bank’s stock worth $47,820,000 after purchasing an additional 16,468 shares in the last quarter. State Street Corp lifted its stake in shares of First Busey by 0.8% during the first quarter. State Street Corp now owns 1,111,532 shares of the bank’s stock worth $19,018,000 after purchasing an additional 9,228 shares in the last quarter. Finally, LSV Asset Management lifted its stake in shares of First Busey by 249.0% during the second quarter. LSV Asset Management now owns 948,914 shares of the bank’s stock worth $17,697,000 after purchasing an additional 676,982 shares in the last quarter. Institutional investors own 46.82% of the company’s stock.

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.

Featured Article: What is insider trading?

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.