First Busey Co. (NASDAQ:BUSE) has earned an average recommendation of “Hold” from the seven brokerages that are currently covering the stock, Marketbeat Ratings reports. Five investment analysts have rated the stock with a hold rating and two have issued a buy rating on the company. The average twelve-month target price among brokerages that have issued ratings on the stock in the last year is $33.60.
Several equities analysts have recently weighed in on the stock. BidaskClub raised shares of First Busey from a “sell” rating to a “hold” rating in a research report on Thursday, January 11th. 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. ValuEngine lowered shares of First Busey from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Zacks Investment Research raised shares of First Busey from a “sell” rating to a “hold” rating in a research report on Wednesday, November 1st. Finally, Keefe, Bruyette & Woods reissued a “hold” rating and issued a $32.00 price objective on shares of First Busey in a research report on Thursday, October 26th.
Large investors have recently added to or reduced their stakes in the stock. Citigroup Inc. increased its position in First Busey by 45.5% during the second quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock worth $188,000 after acquiring an additional 2,009 shares during the period. Meeder Asset Management Inc. increased its position in First Busey by 143.6% during the third quarter. Meeder Asset Management Inc. now owns 5,998 shares of the bank’s stock worth $188,000 after acquiring an additional 3,536 shares during the period. Magnetar Financial LLC bought a new position in First Busey during the third quarter worth about $204,000. Vestor Capital LLC bought a new position in First Busey during the third quarter worth about $224,000. Finally, LPL Financial LLC bought a new position in First Busey during the fourth quarter worth about $281,000. 45.90% of the stock is currently owned by institutional investors and hedge funds.
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 given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 2.59%. This is a positive change from First Busey’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, January 25th. First Busey’s dividend payout ratio (DPR) is currently 54.05%.
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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