First Busey (BUSE) Upgraded to “Outperform” by Keefe, Bruyette & Woods

Keefe, Bruyette & Woods upgraded shares of First Busey (NASDAQ:BUSE) from a market perform rating to an outperform rating in a research note issued to investors on Wednesday morning, Marketbeat Ratings reports.

A number of other equities analysts also recently issued reports on the stock. BidaskClub downgraded shares of First Busey from a buy rating to a hold rating in a research note on Thursday, May 3rd. Zacks Investment Research downgraded shares of First Busey from a hold rating to a sell rating in a research note on Monday, April 30th. Finally, B. Riley upgraded 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 note on Tuesday, February 6th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have given a buy rating to the stock. First Busey currently has a consensus rating of Hold and a consensus price target of $33.60.

First Busey traded up $0.75, reaching $31.30, during mid-day trading on Wednesday, Marketbeat Ratings reports. The company had a trading volume of 3,907 shares, compared to its average volume of 121,105. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.89. The company has a market capitalization of $1.48 billion, a P/E ratio of 16.84, a P/E/G ratio of 2.29 and a beta of 1.06. First Busey has a 12 month low of $30.28 and a 12 month high of $30.44.



First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, April 24th. The bank reported $0.45 EPS for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.07). The company had revenue of $82.24 million during the quarter, compared to the consensus estimate of $84.98 million. First Busey had a return on equity of 9.93% and a net margin of 20.74%. research analysts expect that First Busey will post 2.2 EPS for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 27th. Stockholders of record on Friday, April 20th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Thursday, April 19th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.56%. First Busey’s dividend payout ratio is presently 49.69%.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. SG Americas Securities LLC boosted its stake in shares of First Busey by 83.8% during the first quarter. SG Americas Securities LLC now owns 6,477 shares of the bank’s stock valued at $192,000 after purchasing an additional 2,953 shares in the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in shares of First Busey during the first quarter valued at approximately $208,000. Quantitative Systematic Strategies LLC bought a new position in shares of First Busey during the first quarter valued at approximately $230,000. Xact Kapitalforvaltning AB bought a new position in shares of First Busey during the fourth quarter valued at approximately $239,000. Finally, LPL Financial LLC bought a new position in shares of First Busey during the fourth quarter valued at approximately $281,000. Hedge funds and other institutional investors own 46.61% of the company’s stock.

First Busey Company Profile

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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