First Busey Co. (BUSE) Given Average Recommendation of “Hold” by Brokerages

First Busey Co. (NASDAQ:BUSE) has been assigned an average recommendation of “Hold” from the seven brokerages that are covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, two have assigned a hold recommendation and three have assigned a buy recommendation to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $32.00.

Several research firms recently issued reports on BUSE. B. Riley decreased their target price on shares of First Busey from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, November 5th. BidaskClub cut shares of First Busey from a “hold” rating to a “sell” rating in a research note on Monday, November 5th. Piper Jaffray Companies set a $31.00 target price on shares of First Busey and gave the company a “hold” rating in a research note on Wednesday, October 31st. Zacks Investment Research cut shares of First Busey from a “buy” rating to a “hold” rating in a research note on Tuesday, October 30th. Finally, ValuEngine cut shares of First Busey from a “hold” rating to a “sell” rating in a research note on Friday, October 19th.

Several institutional investors and hedge funds have recently bought and sold shares of BUSE. Deprince Race & Zollo Inc. lifted its stake in shares of First Busey by 401.9% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 940,676 shares of the bank’s stock valued at $29,208,000 after purchasing an additional 753,254 shares during the period. BlackRock Inc. lifted its stake in shares of First Busey by 10.5% in the 2nd quarter. BlackRock Inc. now owns 2,812,785 shares of the bank’s stock valued at $89,220,000 after purchasing an additional 268,011 shares during the period. Russell Investments Group Ltd. lifted its stake in shares of First Busey by 385.1% in the 3rd quarter. Russell Investments Group Ltd. now owns 316,572 shares of the bank’s stock valued at $9,828,000 after purchasing an additional 251,308 shares during the period. Renaissance Technologies LLC lifted its stake in shares of First Busey by 25.6% in the 3rd quarter. Renaissance Technologies LLC now owns 897,025 shares of the bank’s stock valued at $27,853,000 after purchasing an additional 182,600 shares during the period. Finally, Dimensional Fund Advisors LP lifted its stake in shares of First Busey by 8.3% in the 3rd quarter. Dimensional Fund Advisors LP now owns 2,181,587 shares of the bank’s stock valued at $67,738,000 after purchasing an additional 167,545 shares during the period. Hedge funds and other institutional investors own 53.16% of the company’s stock.

NASDAQ BUSE traded up $0.20 on Monday, hitting $28.09. 87,800 shares of the company’s stock traded hands, compared to its average volume of 125,822. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23. First Busey has a 1-year low of $26.61 and a 1-year high of $33.25. The stock has a market cap of $1.36 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.20 and a beta of 1.06.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.55 EPS for the quarter, meeting the consensus estimate of $0.55. First Busey had a net margin of 23.02% and a return on equity of 10.29%. The business had revenue of $82.63 million during the quarter, compared to analysts’ expectations of $85.16 million. Analysts forecast that First Busey will post 2.12 EPS for the current year.

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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