First Busey Co. (BUSE) Receives Average Recommendation of “Hold” from Analysts

Shares of First Busey Co. (NASDAQ:BUSE) have been assigned a consensus rating of “Hold” from the eight ratings firms that are presently covering the firm, Marketbeat Ratings reports. Three analysts have rated the stock with a sell recommendation, one has assigned a hold recommendation and four have issued a buy recommendation on the company. The average 12 month price objective among brokerages that have issued ratings on the stock in the last year is $31.33.

A number of brokerages recently issued reports on BUSE. Zacks Investment Research lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Thursday. BidaskClub lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Friday, March 15th.

Institutional investors and hedge funds have recently bought and sold shares of the business. Citadel Advisors LLC boosted its stake in First Busey by 45.2% during the third quarter. Citadel Advisors LLC now owns 127,496 shares of the bank’s stock worth $3,959,000 after buying an additional 39,712 shares in the last quarter. Cozad Asset Management Inc. boosted its stake in First Busey by 39.5% during the fourth quarter. Cozad Asset Management Inc. now owns 27,529 shares of the bank’s stock worth $676,000 after buying an additional 7,794 shares in the last quarter. Renaissance Technologies LLC boosted its stake in First Busey by 25.6% during the third quarter. Renaissance Technologies LLC now owns 897,025 shares of the bank’s stock worth $27,853,000 after buying an additional 182,600 shares in the last quarter. Thrivent Financial for Lutherans boosted its stake in First Busey by 11.9% during the third quarter. Thrivent Financial for Lutherans now owns 172,398 shares of the bank’s stock worth $5,352,000 after buying an additional 18,326 shares in the last quarter. Finally, MetLife Investment Advisors LLC boosted its stake in First Busey by 60.0% during the third quarter. MetLife Investment Advisors LLC now owns 32,475 shares of the bank’s stock worth $1,008,000 after buying an additional 12,175 shares in the last quarter. Hedge funds and other institutional investors own 44.49% of the company’s stock.

Shares of BUSE stock opened at $23.67 on Friday. First Busey has a 1 year low of $23.13 and a 1 year high of $33.25. The firm has a market cap of $1.39 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.86 and a beta of 1.03. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.89 and a current ratio of 0.90.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, January 29th. The bank reported $0.53 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.01). First Busey had a return on equity of 10.70% and a net margin of 26.31%. The company had revenue of $83.36 million for the quarter, compared to the consensus estimate of $84.54 million. Analysts predict that First Busey will post 2.25 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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Analyst Recommendations for First Busey (NASDAQ:BUSE)

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