First Busey (NASDAQ:BUSE) Price Target Raised to $30.00

First Busey (NASDAQ:BUSE) had its target price upped by B. Riley from $28.00 to $30.00 in a research note issued to investors on Wednesday morning, The Fly reports. B. Riley also issued estimates for First Busey’s Q2 2022 earnings at $0.57 EPS, Q3 2022 earnings at $0.56 EPS, Q4 2022 earnings at $0.59 EPS, FY2022 earnings at $2.25 EPS, Q1 2023 earnings at $0.57 EPS, Q2 2023 earnings at $0.61 EPS, Q3 2023 earnings at $0.65 EPS, Q4 2023 earnings at $0.67 EPS and FY2023 earnings at $2.50 EPS.

Separately, Zacks Investment Research upgraded shares of First Busey from a hold rating to a buy rating and set a $30.00 price objective for the company in a research note on Wednesday, December 29th.

NASDAQ BUSE opened at $29.54 on Wednesday. The company has a quick ratio of 0.72, a current ratio of 0.72 and a debt-to-equity ratio of 0.26. The stock has a market capitalization of $1.66 billion, a PE ratio of 13.43 and a beta of 1.01. The company has a 50 day moving average price of $27.34 and a two-hundred day moving average price of $25.32. First Busey has a 12-month low of $20.58 and a 12-month high of $29.70.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Monday, October 25th. The bank reported $0.58 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.08. First Busey had a net margin of 28.25% and a return on equity of 10.52%. The business had revenue of $104.01 million during the quarter, compared to analysts’ expectations of $102.41 million. As a group, equities analysts anticipate that First Busey will post 2.36 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Friday, January 28th. Investors of record on Friday, January 21st will be paid a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 3.11%. The ex-dividend date is Thursday, January 20th. First Busey’s payout ratio is currently 41.82%.

A number of large investors have recently added to or reduced their stakes in BUSE. First Trust Advisors LP raised its stake in First Busey by 86.5% during the 1st quarter. First Trust Advisors LP now owns 127,968 shares of the bank’s stock valued at $3,122,000 after purchasing an additional 59,368 shares during the last quarter. Advisor Group Holdings Inc. increased its holdings in First Busey by 90.6% in the 2nd quarter. Advisor Group Holdings Inc. now owns 12,584 shares of the bank’s stock valued at $310,000 after buying an additional 5,983 shares during the period. American Century Companies Inc. increased its holdings in First Busey by 82.6% in the 2nd quarter. American Century Companies Inc. now owns 68,207 shares of the bank’s stock valued at $1,682,000 after buying an additional 30,857 shares during the period. Swiss National Bank increased its holdings in First Busey by 1.5% in the 2nd quarter. Swiss National Bank now owns 113,899 shares of the bank’s stock valued at $2,809,000 after buying an additional 1,700 shares during the period. Finally, Rafferty Asset Management LLC increased its holdings in First Busey by 8.6% in the 2nd quarter. Rafferty Asset Management LLC now owns 25,553 shares of the bank’s stock valued at $630,000 after buying an additional 2,034 shares during the period. Hedge funds and other institutional investors own 45.73% of the company’s stock.

First Busey Company Profile

First Busey Corp. is a bank holding company, which engages in the provision of financial services through its wholly-owned bank subsidiary. It operates through the following segments: Banking, Remittance Processing, and Wealth Management. The Banking segment offers a range of banking services to individual and corporate customers through its banking center network.

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