First Busey (BUSE) Cut to “Hold” at BidaskClub

BidaskClub downgraded shares of First Busey (NASDAQ:BUSE) from a buy rating to a hold rating in a report released on Thursday morning.

Other equities research analysts have also issued reports about the company. ValuEngine lowered First Busey from a buy rating to a hold rating in a research note on Friday, November 10th. Zacks Investment Research raised First Busey from a sell rating to a hold rating in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reissued a hold rating and issued a $32.00 target price on shares of First Busey in a report on Thursday, October 26th. Finally, FBR & Co reissued a neutral rating and issued a $34.00 target price (up from $32.00) on shares of First Busey in a report on Wednesday, October 25th. Six research analysts have rated the stock with a hold rating, The stock presently has a consensus rating of Hold and an average price target of $33.25.

Shares of First Busey (BUSE) opened at $30.81 on Thursday. First Busey has a 12 month low of $27.33 and a 12 month high of $32.88. The firm has a market capitalization of $1,498.44, a P/E ratio of 18.12, a PEG ratio of 3.04 and a beta of 0.98. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27.

In other news, Director George Barr sold 14,492 shares of the stock in a transaction on Monday, October 30th. The stock was sold at an average price of $31.30, for a total value of $453,599.60. Following the transaction, the director now owns 64,088 shares of the company’s stock, valued at approximately $2,005,954.40. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Corporate insiders own 9.60% of the company’s stock.

Hedge funds have recently bought and sold shares of the company. GSA Capital Partners LLP bought a new stake in shares of First Busey in the 3rd quarter valued at $445,000. California Public Employees Retirement System increased its position in shares of First Busey by 15.5% in the 3rd quarter. California Public Employees Retirement System now owns 90,884 shares of the bank’s stock valued at $2,850,000 after buying an additional 12,189 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in shares of First Busey by 1,790.1% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,597 shares of the bank’s stock valued at $552,000 after buying an additional 16,666 shares in the last quarter. Magnetar Financial LLC bought a new stake in shares of First Busey in the 3rd quarter valued at $204,000. Finally, California State Teachers Retirement System increased its position in shares of First Busey by 5.2% in the 3rd quarter. California State Teachers Retirement System now owns 60,585 shares of the bank’s stock valued at $1,900,000 after buying an additional 3,004 shares in the last quarter. 46.12% of the stock is currently owned by institutional investors.

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About First Busey

First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.

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