Shares of First Busey Corporation (NASDAQ:BUSE) have earned a consensus rating of “Hold” from the six ratings firms that are covering the company, MarketBeat reports. Two research analysts have rated the stock with a sell rating, three have given a hold rating and one has given a buy rating to the company. The average 12-month target price among brokerages that have covered the stock in the last year is $31.67.
A number of analysts have commented on the company. Zacks Investment Research downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, August 2nd. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $31.00 price objective on shares of First Busey Corporation in a research report on Wednesday, April 26th. BidaskClub upgraded First Busey Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, ValuEngine upgraded First Busey Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd.
Shares of First Busey Corporation (NASDAQ:BUSE) opened at 28.86 on Tuesday. The stock has a market cap of $1.10 billion, a price-to-earnings ratio of 19.09 and a beta of 0.99. The stock’s 50 day moving average is $29.30 and its 200-day moving average is $29.60. First Busey Corporation has a 12-month low of $21.80 and a 12-month high of $32.22.
First Busey Corporation (NASDAQ:BUSE) last released its earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. The firm had revenue of $62.43 million for the quarter, compared to analyst estimates of $63.40 million. First Busey Corporation had a return on equity of 10.59% and a net margin of 22.04%. Equities analysts anticipate that First Busey Corporation will post $1.74 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, July 28th. Stockholders of record on Friday, July 21st were paid a $0.18 dividend. The ex-dividend date was Wednesday, July 19th. This represents a $0.72 annualized dividend and a dividend yield of 2.49%. First Busey Corporation’s dividend payout ratio (DPR) is currently 47.37%.
In related news, insider Curt A. Anderson sold 1,400 shares of First Busey Corporation stock in a transaction on Wednesday, August 2nd. The stock was sold at an average price of $29.40, for a total transaction of $41,160.00. Following the completion of the sale, the insider now directly owns 43,482 shares of the company’s stock, valued at $1,278,370.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 9.60% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dynamic Technology Lab Private Ltd acquired a new position in First Busey Corporation during the first quarter worth about $416,000. American International Group Inc. boosted its position in First Busey Corporation by 7.0% in the first quarter. American International Group Inc. now owns 19,051 shares of the bank’s stock worth $560,000 after buying an additional 1,247 shares during the last quarter. Stifel Financial Corp acquired a new position in First Busey Corporation during the first quarter worth about $299,000. Los Angeles Capital Management & Equity Research Inc. boosted its position in First Busey Corporation by 2.5% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 33,275 shares of the bank’s stock worth $978,000 after buying an additional 800 shares during the last quarter. Finally, Ameriprise Financial Inc. boosted its position in First Busey Corporation by 10.6% in the first quarter. Ameriprise Financial Inc. now owns 214,254 shares of the bank’s stock worth $6,299,000 after buying an additional 20,482 shares during the last quarter. 43.83% of the stock is owned by hedge funds and other institutional investors.
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First Busey Corporation Company Profile
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.
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