First Busey (NASDAQ:BUSE) Lifted to “Hold” at BidaskClub

BidaskClub upgraded shares of First Busey (NASDAQ:BUSE) from a sell rating to a hold rating in a research report report published on Monday, February 5th.

A number of other research firms have also commented on BUSE. Zacks Investment Research upgraded shares of First Busey from a hold rating to a buy rating and set a $34.00 price objective on the stock in a research note on Monday, January 1st. Piper Jaffray Companies reiterated a hold rating and set a $33.00 price target on shares of First Busey in a research note on Tuesday, January 9th. FBR & Co restated a neutral rating and set a $34.00 target price (up from $32.00) on shares of First Busey in a research report on Wednesday, October 25th. ValuEngine lowered shares of First Busey from a buy rating to a hold rating in a research report on Friday, November 10th. Finally, Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $32.00 price target on shares of First Busey in a report on Thursday, October 26th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The company currently has a consensus rating of Hold and a consensus target price of $33.60.

First Busey (BUSE) traded up $0.47 during trading on Monday, hitting $30.10. 105,600 shares of the stock traded hands, compared to its average volume of 153,948. The stock has a market cap of $1,480.00, a PE ratio of 20.34, a P/E/G ratio of 2.18 and a beta of 1.04. First Busey has a 1-year low of $27.33 and a 1-year high of $32.88. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, January 30th. The bank reported $0.41 earnings per share for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.05). The company had revenue of $86.61 million during the quarter, compared to analysts’ expectations of $82.39 million. First Busey had a net margin of 20.31% and a return on equity of 10.75%. sell-side analysts expect that First Busey will post 2.27 earnings per share for the current year.

The business also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Friday, January 26th were given a dividend of $0.20 per share. This is a positive change from First Busey’s previous quarterly dividend of $0.18. The ex-dividend date was Thursday, January 25th. This represents a $0.80 annualized dividend and a yield of 2.66%. First Busey’s dividend payout ratio is 54.05%.

A number of hedge funds have recently modified their holdings of the stock. LPL Financial LLC acquired a new position in First Busey during the fourth quarter worth approximately $281,000. Millennium Management LLC increased its position in shares of First Busey by 59.6% in the fourth quarter. Millennium Management LLC now owns 266,245 shares of the bank’s stock worth $7,971,000 after acquiring an additional 99,411 shares in the last quarter. Teachers Advisors LLC increased its position in shares of First Busey by 4.5% in the fourth quarter. Teachers Advisors LLC now owns 70,235 shares of the bank’s stock worth $2,103,000 after acquiring an additional 3,056 shares in the last quarter. California State Teachers Retirement System increased its position in shares of First Busey by 6.0% in the fourth quarter. California State Teachers Retirement System now owns 64,218 shares of the bank’s stock worth $1,923,000 after acquiring an additional 3,633 shares in the last quarter. Finally, Stone Ridge Asset Management LLC acquired a new stake in shares of First Busey in the fourth quarter worth $557,000. 45.94% of the stock is owned by hedge funds and other 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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