First Busey (NASDAQ:BUSE) Rating Lowered to Sell at BidaskClub

BidaskClub lowered shares of First Busey (NASDAQ:BUSE) from a hold rating to a sell rating in a report issued on Saturday, BidAskClub reports.

Several other equities research analysts also recently commented on BUSE. B. Riley reiterated a neutral rating on shares of New York Community Bancorp in a research report on Wednesday, April 10th. Stephens began coverage on shares of LiqTech International in a research report on Tuesday, July 9th. They set an overweight rating and a $13.00 target price on the stock. Finally, Zacks Investment Research upgraded shares of Flagstar Bancorp from a hold rating to a buy rating and set a $38.00 target price on the stock in a research report on Monday, July 8th. Three equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and two have given a buy rating to the company. The stock currently has an average rating of Hold and a consensus price target of $30.50.

NASDAQ:BUSE opened at $25.99 on Friday. First Busey has a 52 week low of $23.13 and a 52 week high of $32.89. The company has a market capitalization of $1.45 billion, a price-to-earnings ratio of 12.38, a price-to-earnings-growth ratio of 2.08 and a beta of 1.00. The business’s 50-day simple moving average is $25.75. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.23.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, April 23rd. The bank reported $0.48 EPS for the quarter, missing the consensus estimate of $0.51 by ($0.03). First Busey had a net margin of 25.94% and a return on equity of 10.23%. The firm had revenue of $94.33 million during the quarter, compared to the consensus estimate of $96.24 million. As a group, analysts anticipate that First Busey will post 2.12 EPS for the current fiscal year.

The company also recently declared a quarterly dividend, which will be paid on Friday, July 26th. Shareholders of record on Friday, July 19th will be issued a dividend of $0.21 per share. The ex-dividend date is Thursday, July 18th. This represents a $0.84 annualized dividend and a yield of 3.23%. First Busey’s payout ratio is 40.00%.

In other news, Director Stanley J. Bradshaw purchased 1,183 shares of the stock in a transaction on Thursday, May 30th. The stock was purchased at an average price of $24.95 per share, for a total transaction of $29,515.85. Following the acquisition, the director now owns 4,195 shares in the company, valued at $104,665.25. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Stanley J. Bradshaw purchased 3,680 shares of the stock in a transaction on Friday, April 26th. The shares were purchased at an average price of $25.69 per share, with a total value of $94,539.20. Following the acquisition, the director now owns 4,195 shares in the company, valued at approximately $107,769.55. The disclosure for this purchase can be found here. In the last 90 days, insiders have acquired 69,955 shares of company stock valued at $1,859,546. Company insiders own 7.50% of the company’s stock.

Institutional investors have recently added to or reduced their stakes in the business. Centric Wealth Management bought a new position in shares of First Busey during the second quarter valued at $206,000. First Trust Advisors LP increased its holdings in First Busey by 86.5% in the 1st quarter. First Trust Advisors LP now owns 127,968 shares of the bank’s stock worth $3,122,000 after buying an additional 59,368 shares in the last quarter. Marshall Wace LLP increased its holdings in First Busey by 1,097.9% in the 1st quarter. Marshall Wace LLP now owns 24,306 shares of the bank’s stock worth $593,000 after buying an additional 22,277 shares in the last quarter. Kennedy Capital Management Inc. increased its holdings in First Busey by 50.4% in the 1st quarter. Kennedy Capital Management Inc. now owns 224,722 shares of the bank’s stock worth $5,483,000 after buying an additional 75,276 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC boosted its position in First Busey by 17.8% in the first quarter. Thompson Siegel & Walmsley LLC now owns 81,562 shares of the bank’s stock worth $1,990,000 after purchasing an additional 12,296 shares during the last quarter. Hedge funds and other institutional investors own 45.89% 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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