Shares of First Busey Co. (NASDAQ:BUSE) have been assigned a consensus rating of “Hold” from the seven research firms that are presently covering the firm, Marketbeat.com reports. Five analysts have rated the stock with a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among brokerages that have issued a report on the stock in the last year is $33.60.
Several equities analysts have recently weighed in on BUSE shares. Zacks Investment Research raised shares of First Busey from a “hold” rating to a “buy” rating and set a $34.00 price objective on the stock in a research report on Monday, January 1st. B. Riley raised shares of First Busey from a “neutral” rating to a “buy” rating and dropped their price objective for the company from $36.00 to $35.00 in a research report on Tuesday, February 6th. BidaskClub raised shares of First Busey from a “sell” rating to a “hold” rating in a research report on Monday, February 5th. Piper Jaffray Companies reissued a “hold” rating and issued a $33.00 price objective on shares of First Busey in a research report on Tuesday, January 9th. Finally, ValuEngine lowered shares of First Busey from a “buy” rating to a “hold” rating in a research report on Friday, November 10th.
Several hedge funds have recently added to or reduced their stakes in BUSE. Teachers Advisors LLC grew its stake in shares of First Busey by 12.0% in the second quarter. Teachers Advisors LLC now owns 58,886 shares of the bank’s stock valued at $1,727,000 after acquiring an additional 6,289 shares in the last quarter. TIAA CREF Investment Management LLC grew its stake in shares of First Busey by 33.5% in the second quarter. TIAA CREF Investment Management LLC now owns 111,412 shares of the bank’s stock valued at $3,267,000 after acquiring an additional 27,931 shares in the last quarter. New York State Common Retirement Fund grew its stake in shares of First Busey by 8.5% in the second quarter. New York State Common Retirement Fund now owns 34,400 shares of the bank’s stock valued at $1,009,000 after acquiring an additional 2,699 shares in the last quarter. Citigroup Inc. grew its stake in shares of First Busey by 45.5% in the second quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock valued at $188,000 after acquiring an additional 2,009 shares in the last quarter. Finally, Northern Trust Corp grew its stake in shares of First Busey by 3.8% in the second quarter. Northern Trust Corp now owns 712,793 shares of the bank’s stock valued at $20,899,000 after acquiring an additional 26,024 shares in the last quarter. Institutional investors and hedge funds own 45.90% of the company’s stock.
Shares of First Busey (NASDAQ BUSE) traded down $0.34 on Friday, hitting $30.17. 91,009 shares of the stock traded hands, compared to its average volume of 146,191. The company has a market capitalization of $1,470.00, a price-to-earnings ratio of 18.40, a PEG ratio of 2.22 and a beta of 1.04. First Busey has a 52 week low of $27.33 and a 52 week high of $32.88. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.90.
First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, January 30th. The bank reported $0.41 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.05). The company had revenue of $86.61 million during the quarter, compared to the consensus estimate of $82.39 million. First Busey had a net margin of 20.31% and a return on equity of 10.75%. sell-side analysts expect that First Busey will post 2.27 EPS for the current year.
The firm also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Friday, January 26th were paid a $0.20 dividend. The ex-dividend date of this dividend was Thursday, January 25th. This is an increase from First Busey’s previous quarterly dividend of $0.18. This represents a $0.80 annualized dividend and a dividend yield of 2.65%. First Busey’s dividend payout ratio is 48.78%.
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First Busey 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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