First Busey Corp. (NASDAQ:BUSE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Monday.
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. “
Separately, Keefe, Bruyette & Woods lifted their price objective on First Busey Corp. from $22.00 to $23.00 and gave the stock a “market perform” rating in a report on Monday, August 1st. Four analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $23.67.
First Busey Corp. (NASDAQ:BUSE) traded down 1.32% during mid-day trading on Monday, hitting $27.70. The company’s stock had a trading volume of 93,069 shares. The stock has a market cap of $1.06 billion, a P/E ratio of 18.72 and a beta of 0.75. The company’s 50 day moving average is $24.05 and its 200-day moving average is $22.81. First Busey Corp. has a 52-week low of $17.68 and a 52-week high of $28.11.
First Busey Corp. (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, October 25th. The company reported $0.40 EPS for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.40. First Busey Corp. had a return on equity of 10.42% and a net margin of 22.15%. On average, equities analysts predict that First Busey Corp. will post $1.50 EPS for the current fiscal year.
A number of hedge funds have recently added to or reduced their stakes in BUSE. Great West Life Assurance Co. Can bought a new stake in First Busey Corp. during the third quarter valued at about $109,000. Victory Capital Management Inc. bought a new stake in First Busey Corp. during the third quarter valued at about $152,000. Royal Bank of Canada raised its stake in First Busey Corp. by 455.5% in the second quarter. Royal Bank of Canada now owns 8,210 shares of the company’s stock valued at $176,000 after buying an additional 6,732 shares in the last quarter. BlackRock Inc. raised its stake in First Busey Corp. by 484.2% in the second quarter. BlackRock Inc. now owns 9,406 shares of the company’s stock valued at $201,000 after buying an additional 7,796 shares in the last quarter. Finally, SG Americas Securities LLC bought a new stake in First Busey Corp. during the third quarter valued at about $212,000. 47.46% of the stock is owned by institutional investors and hedge funds.
About First Busey Corp.
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 at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.