Several other research firms have also recently commented on BUSE. ValuEngine cut First Busey from a hold rating to a sell rating in a research note on Monday, August 3rd. Raymond James restated a hold rating on shares of First Busey in a research note on Friday, August 14th. Finally, Zacks Investment Research raised First Busey from a sell rating to a hold rating in a report on Monday, October 12th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and two have assigned a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus price target of $25.50.
First Busey stock opened at $18.50 on Monday. First Busey has a 12 month low of $11.00 and a 12 month high of $28.00. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.91 and a quick ratio of 0.90. The business has a 50 day simple moving average of $17.04 and a 200-day simple moving average of $17.43. The stock has a market capitalization of $1.02 billion, a PE ratio of 9.95 and a beta of 1.17.
First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, July 28th. The bank reported $0.47 EPS for the quarter, topping the Thomson Reuters’ 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 during the quarter, compared to analysts’ expectations of $98.26 million. As a group, equities research analysts anticipate that First Busey will post 1.61 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Friday, October 30th. Shareholders of record on Friday, October 23rd will be issued a $0.22 dividend. This represents a $0.88 annualized dividend and a yield of 4.76%. The ex-dividend date is Thursday, October 22nd. First Busey’s dividend payout ratio (DPR) is 40.93%.
In other news, Director Stanley J. Bradshaw bought 2,100 shares of the stock in a transaction on Friday, July 31st. The shares were bought at an average price of $16.80 per share, with a total value of $35,280.00. Following the completion of the acquisition, the director now owns 9,491 shares of the company’s stock, valued at $159,448.80. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Stephen V. King acquired 27,058 shares of the firm’s stock in a transaction that occurred on Friday, August 14th. The shares were bought at an average cost of $18.44 per share, for a total transaction of $498,949.52. Following the purchase, the director now owns 12,936 shares of the company’s stock, valued at $238,539.84. The disclosure for this purchase can be found here. Insiders acquired 30,358 shares of company stock worth $554,030 in the last three months. 7.50% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently bought and sold shares of BUSE. Woodley Farra Manion Portfolio Management Inc. boosted its stake in shares of First Busey by 32.0% during the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 2,477 shares of the bank’s stock valued at $46,000 after acquiring an additional 600 shares during the last quarter. Advisor Group Holdings Inc. acquired a new stake in shares of First Busey during the first quarter valued at $128,000. Bank of Montreal Can boosted its stake in shares of First Busey by 61.5% during the second quarter. Bank of Montreal Can now owns 8,064 shares of the bank’s stock valued at $131,000 after acquiring an additional 3,070 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of First Busey by 75.8% during the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 9,114 shares of the bank’s stock valued at $170,000 after acquiring an additional 3,930 shares during the last quarter. Finally, Strs Ohio boosted its stake in shares of First Busey by 10.1% during the second quarter. Strs Ohio now owns 10,900 shares of the bank’s stock valued at $203,000 after acquiring an additional 1,000 shares during the last quarter. 46.82% of the stock is currently owned by institutional investors and hedge funds.
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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