First Busey Corp. (BUSE) Stock Rating Lowered by Zacks Investment Research
First Busey Corp. (NASDAQ:BUSE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued 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 report on Monday, August 1st. Four equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. The company has a consensus rating of “Hold” and a consensus target price of $23.67.
First Busey Corp. (NASDAQ:BUSE) opened at 27.64 on Monday. The firm’s 50-day moving average is $24.21 and its 200 day moving average is $22.90. First Busey Corp. has a 52-week low of $17.68 and a 52-week high of $28.11. The company has a market cap of $1.06 billion, a price-to-earnings ratio of 18.68 and a beta of 0.75.
First Busey Corp. (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, October 25th. The company reported $0.40 EPS 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%. On average, equities research analysts predict that First Busey Corp. will post $1.50 EPS for the current fiscal year.
Large investors have recently modified their holdings of the company. Ameriprise Financial Inc. raised its stake in shares of First Busey Corp. by 13.6% in the second quarter. Ameriprise Financial Inc. now owns 175,001 shares of the company’s stock valued at $3,743,000 after buying an additional 20,941 shares during the last quarter. Emerald Mutual Fund Advisers Trust bought a new stake in shares of First Busey Corp. during the second quarter valued at approximately $771,000. California Public Employees Retirement System raised its stake in shares of First Busey Corp. by 83.5% in the second quarter. California Public Employees Retirement System now owns 116,271 shares of the company’s stock valued at $2,487,000 after buying an additional 52,895 shares during the last quarter. California State Teachers Retirement System raised its stake in shares of First Busey Corp. by 27.2% in the second quarter. California State Teachers Retirement System now owns 64,926 shares of the company’s stock valued at $1,389,000 after buying an additional 13,878 shares during the last quarter. Finally, First Trust Advisors LP raised its stake in shares of First Busey Corp. by 33.2% in the second quarter. First Trust Advisors LP now owns 54,058 shares of the company’s stock valued at $1,156,000 after buying an additional 13,486 shares during the last quarter. 47.46% of the stock is owned by institutional investors.
About First Busey Corp.
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.
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