First Busey (NASDAQ:BUSE) Upgraded at Wall Street Zen

Wall Street Zen upgraded shares of First Busey (NASDAQ:BUSE) from a sell rating to a hold rating in a research report report published on Saturday.

Other equities analysts have also recently issued research reports about the stock. Weiss Ratings raised shares of First Busey from a “buy (b-)” rating to a “buy (b)” rating in a research note on Monday, May 11th. Stephens increased their target price on shares of First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Zacks Research upgraded shares of First Busey from a “hold” rating to a “strong-buy” rating in a report on Tuesday, July 21st. Keefe, Bruyette & Woods upped their price target on First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Friday. Finally, DA Davidson increased their price objective on First Busey from $30.00 to $31.00 and gave the company a “neutral” rating in a research report on Thursday. One analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $32.00.

First Busey Stock Performance

Shares of NASDAQ BUSE opened at $31.27 on Friday. First Busey has a 1 year low of $21.96 and a 1 year high of $31.44. The firm has a market cap of $2.64 billion, a P/E ratio of 12.92 and a beta of 0.72. The stock has a fifty day moving average price of $28.99 and a two-hundred day moving average price of $26.91. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.90 and a current ratio of 0.90.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, July 28th. The bank reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.63 by $0.06. First Busey had a return on equity of 10.42% and a net margin of 21.00%.The business had revenue of $194.27 million during the quarter, compared to analysts’ expectations of $197.59 million. Research analysts forecast that First Busey will post 2.67 EPS for the current fiscal year.

First Busey Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, July 31st. Stockholders of record on Friday, July 24th were given a $0.26 dividend. This represents a $1.04 annualized dividend and a dividend yield of 3.3%. The ex-dividend date of this dividend was Friday, July 24th. First Busey’s dividend payout ratio (DPR) is 42.98%.

Institutional Investors Weigh In On First Busey

A number of institutional investors have recently bought and sold shares of the business. Everhart Financial Group Inc. increased its holdings in shares of First Busey by 11.8% in the 2nd quarter. Everhart Financial Group Inc. now owns 41,689 shares of the bank’s stock valued at $1,230,000 after purchasing an additional 4,409 shares during the period. Hennion & Walsh Asset Management Inc. boosted its holdings in shares of First Busey by 6.8% during the second quarter. Hennion & Walsh Asset Management Inc. now owns 8,972 shares of the bank’s stock worth $265,000 after purchasing an additional 571 shares during the period. Lexington Hill Partners LLC purchased a new position in First Busey during the second quarter valued at approximately $335,000. Assenagon Asset Management S.A. grew its position in First Busey by 37.0% during the second quarter. Assenagon Asset Management S.A. now owns 94,464 shares of the bank’s stock valued at $2,787,000 after purchasing an additional 25,490 shares in the last quarter. Finally, Bank of America Corp DE increased its stake in First Busey by 37.0% in the 1st quarter. Bank of America Corp DE now owns 169,641 shares of the bank’s stock valued at $4,287,000 after buying an additional 45,793 shares during the period. 56.49% of the stock is currently owned by institutional investors and hedge funds.

About First Busey

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.