First Busey Corp. (NASDAQ:BUSE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued to investors 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 target price on shares of First Busey Corp. from $22.00 to $23.00 and gave the company a “market perform” rating in a research report on Monday, August 1st. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company’s stock. First Busey Corp. presently has a consensus rating of “Hold” and an average price target of $23.67.
Shares of First Busey Corp. (NASDAQ:BUSE) traded down 1.32% during mid-day trading on Monday, hitting $27.70. 93,069 shares of the stock were exchanged. The company’s 50-day moving average is $24.05 and its 200-day moving average is $22.81. The firm has a market cap of $1.06 billion, a price-to-earnings ratio of 18.72 and a beta of 0.75. First Busey Corp. has a 1-year low of $17.68 and a 1-year high of $28.11.
First Busey Corp. (NASDAQ:BUSE) last issued its earnings results on Tuesday, October 25th. The company reported $0.40 earnings per share for the quarter, meeting the consensus estimate of $0.40. First Busey Corp. had a net margin of 22.15% and a return on equity of 10.42%. Equities research analysts anticipate that First Busey Corp. will post $1.50 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in BUSE. Hillcrest Asset Management LLC bought a new position in shares of First Busey Corp. during the third quarter worth $6,618,000. D. E. Shaw & Co. Inc. increased its position in shares of First Busey Corp. by 13.2% in the third quarter. D. E. Shaw & Co. Inc. now owns 61,009 shares of the company’s stock worth $1,379,000 after buying an additional 7,119 shares in the last quarter. The Manufacturers Life Insurance Company bought a new position in shares of First Busey Corp. during the third quarter worth $476,000. HighTower Advisors LLC increased its position in shares of First Busey Corp. by 14.4% in the third quarter. HighTower Advisors LLC now owns 89,917 shares of the company’s stock worth $2,034,000 after buying an additional 11,348 shares in the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of First Busey Corp. during the third quarter worth $2,860,000. Hedge funds and other institutional investors own 47.46% of the company’s stock.
First Busey Corp. 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 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.