First Busey (BUSE) Upgraded to Buy at BidaskClub

BidaskClub upgraded shares of First Busey (NASDAQ:BUSE) from a hold rating to a buy rating in a report published on Tuesday.

Several other equities analysts have also weighed in on BUSE. Zacks Investment Research upgraded shares of First Busey from a hold rating to a buy rating and set a $34.00 target price on the stock in a report on Monday, January 1st. Piper Jaffray restated a hold rating and set a $33.00 target price on shares of First Busey in a report on Tuesday, January 9th. Finally, B. Riley upgraded shares of First Busey from a neutral rating to a buy rating and reduced their target price for the company from $36.00 to $35.00 in a report on Tuesday, February 6th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. The company has an average rating of Hold and a consensus price target of $33.60.

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Shares of BUSE opened at $31.13 on Tuesday. The firm has a market capitalization of $1,498.76, a price-to-earnings ratio of 19.34, a P/E/G ratio of 2.28 and a beta of 1.04. First Busey has a fifty-two week low of $27.33 and a fifty-two week high of $32.88. The company has a current ratio of 0.89, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24.



First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, April 24th. The bank reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.07). First Busey had a net margin of 20.31% and a return on equity of 9.84%. sell-side analysts forecast that First Busey will post 2.25 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Investors of record on Friday, April 20th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. First Busey’s payout ratio is 49.69%.

Several large investors have recently bought and sold shares of the stock. Legal & General Group Plc lifted its holdings in shares of First Busey by 24.0% during the 3rd quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock valued at $311,000 after acquiring an additional 1,918 shares in the last quarter. American International Group Inc. lifted its holdings in First Busey by 7.9% in the 4th quarter. American International Group Inc. now owns 27,442 shares of the bank’s stock worth $822,000 after buying an additional 2,005 shares in the last quarter. Geode Capital Management LLC lifted its holdings in First Busey by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 406,736 shares of the bank’s stock worth $12,177,000 after buying an additional 2,216 shares in the last quarter. The Manufacturers Life Insurance Company lifted its holdings in First Busey by 8.0% in the 4th quarter. The Manufacturers Life Insurance Company now owns 29,994 shares of the bank’s stock worth $899,000 after buying an additional 2,233 shares in the last quarter. Finally, California State Teachers Retirement System lifted its holdings in First Busey by 5.2% in the 3rd quarter. California State Teachers Retirement System now owns 60,585 shares of the bank’s stock worth $1,900,000 after buying an additional 3,004 shares in the last quarter. Institutional investors and hedge funds own 47.15% of the company’s stock.

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About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.

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