First Busey Co. (NASDAQ:BUSE) has received an average recommendation of “Hold” from the eight ratings firms that are covering the firm, MarketBeat.com reports. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and four have assigned a buy rating to the company. The average twelve-month price target among brokerages that have covered the stock in the last year is $30.50.

Several equities research analysts have recently issued reports on BUSE shares. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a report on Saturday, January 19th. Zacks Investment Research cut shares of First Busey from a “hold” rating to a “sell” rating in a report on Wednesday, February 27th. Finally, B. Riley restated a “buy” rating on shares of First Busey in a report on Wednesday, April 10th.

In other news, Director Stanley J. Bradshaw bought 3,680 shares of the business’s stock in a transaction on Friday, April 26th. The stock was purchased at an average price of $25.69 per share, with a total value of $94,539.20. Following the transaction, the director now directly owns 4,195 shares in the company, valued at $107,769.55. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Stephen V. King bought 48,910 shares of the business’s stock in a transaction on Monday, May 6th. The shares were purchased at an average cost of $26.83 per share, with a total value of $1,312,255.30. Following the transaction, the director now owns 7,357 shares in the company, valued at $197,388.31. The disclosure for this purchase can be found here. Insiders purchased 67,770 shares of company stock valued at $1,804,991 over the last quarter. 7.50% of the stock is currently owned by corporate insiders.

A number of institutional investors have recently added to or reduced their stakes in the business. Zebra Capital Management LLC grew its stake in First Busey by 23.9% during the first quarter. Zebra Capital Management LLC now owns 11,896 shares of the bank’s stock worth $290,000 after buying an additional 2,298 shares during the last quarter. Moneta Group Investment Advisors LLC bought a new stake in shares of First Busey during the first quarter valued at approximately $122,000. ExodusPoint Capital Management LP bought a new stake in shares of First Busey during the first quarter valued at approximately $511,000. Marshall Wace LLP grew its stake in shares of First Busey by 1,097.9% during the first quarter. Marshall Wace LLP now owns 24,306 shares of the bank’s stock valued at $593,000 after purchasing an additional 22,277 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of First Busey by 12.9% during the first quarter. Geode Capital Management LLC now owns 572,730 shares of the bank’s stock valued at $13,974,000 after purchasing an additional 65,446 shares during the last quarter. 44.98% of the stock is owned by hedge funds and other institutional investors.

Shares of BUSE stock traded up $0.29 during mid-day trading on Monday, hitting $25.85. 1,212 shares of the company’s stock were exchanged, compared to its average volume of 119,694. First Busey has a fifty-two week low of $23.13 and a fifty-two week high of $33.25. The company has a quick ratio of 0.85, a current ratio of 0.85 and a debt-to-equity ratio of 0.23. The stock has a market capitalization of $1.42 billion, a price-to-earnings ratio of 12.31, a price-to-earnings-growth ratio of 1.97 and a beta of 1.02.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.51 by ($0.03). First Busey had a return on equity of 10.23% and a net margin of 25.94%. The business had revenue of $94.33 million for the quarter, compared to analyst estimates of $96.24 million. As a group, analysts anticipate that First Busey will post 2.15 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 19th were issued a $0.21 dividend. This represents a $0.84 dividend on an annualized basis and a yield of 3.25%. The ex-dividend date was Wednesday, April 17th. First Busey’s dividend payout ratio is presently 40.00%.

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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Analyst Recommendations for First Busey (NASDAQ:BUSE)

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