Shares of First Busey Co. (NASDAQ:BUSE) have been assigned a consensus recommendation of “Hold” from the eight research firms that are presently covering the firm, MarketBeat Ratings reports. Two equities research analysts have rated the stock with a sell recommendation, two have issued a hold recommendation and four have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $30.50.
BUSE has been the subject of several research analyst reports. BidaskClub upgraded First Busey from a “strong sell” rating to a “sell” rating in a research report on Saturday, January 5th. Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $29.00 price objective for the company in a report on Tuesday, January 15th.
Shares of BUSE stock traded down $0.49 during trading hours on Thursday, reaching $25.25. The stock had a trading volume of 111,647 shares, compared to its average volume of 123,064. The company has a quick ratio of 0.89, a current ratio of 0.90 and a debt-to-equity ratio of 0.22. First Busey has a twelve month low of $23.13 and a twelve month high of $33.25. The stock has a market cap of $1.40 billion, a PE ratio of 12.02, a price-to-earnings-growth ratio of 1.92 and a beta of 1.01.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, April 26th. Stockholders of record on Friday, April 19th will be issued a $0.21 dividend. This represents a $0.84 annualized dividend and a dividend yield of 3.33%. The ex-dividend date of this dividend is Wednesday, April 17th. First Busey’s payout ratio is presently 40.00%.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in First Busey by 31.9% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,945 shares of the bank’s stock valued at $72,000 after buying an additional 712 shares in the last quarter. Great West Life Assurance Co. Can increased its holdings in First Busey by 137.7% in the fourth quarter. Great West Life Assurance Co. Can now owns 4,636 shares of the bank’s stock worth $110,000 after purchasing an additional 2,686 shares in the last quarter. Amundi Pioneer Asset Management Inc. bought a new stake in First Busey in the fourth quarter worth approximately $120,000. Bank of Montreal Can increased its holdings in First Busey by 80.6% in the fourth quarter. Bank of Montreal Can now owns 7,011 shares of the bank’s stock worth $172,000 after purchasing an additional 3,129 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in First Busey by 10.3% in the fourth quarter. Legal & General Group Plc now owns 7,893 shares of the bank’s stock worth $194,000 after purchasing an additional 738 shares in the last quarter. 44.11% of the stock is owned by institutional investors.
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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