Several other analysts also recently commented on BUSE. Zacks Investment Research downgraded shares of First Busey from a hold rating to a sell rating in a report on Thursday, April 4th. B. Riley reaffirmed a buy rating on shares of First Busey in a report on Wednesday, April 10th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the company. The stock has a consensus rating of Hold and an average price target of $30.75.
BUSE stock traded down $0.15 during midday trading on Tuesday, hitting $24.71. The company’s stock had a trading volume of 115,818 shares, compared to its average volume of 120,684. The firm has a market capitalization of $1.41 billion, a P/E ratio of 11.74, a PEG ratio of 1.99 and a beta of 1.02. First Busey has a twelve month low of $23.13 and a twelve month high of $33.25. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.23.
In other news, Director Stephen V. King purchased 48,910 shares of the business’s stock in a transaction dated Monday, May 6th. The stock was bought at an average price of $26.83 per share, with a total value of $1,312,255.30. Following the acquisition, the director now owns 7,357 shares in the company, valued at approximately $197,388.31. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Stanley J. Bradshaw acquired 3,680 shares of the stock in a transaction that occurred on Friday, April 26th. The shares were bought at an average price of $25.69 per share, with a total value of $94,539.20. Following the completion of the transaction, the director now owns 4,195 shares in the company, valued at $107,769.55. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 69,953 shares of company stock valued at $1,859,497. 7.50% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Bank of New York Mellon Corp increased its holdings in First Busey by 1.1% in the third quarter. Bank of New York Mellon Corp now owns 289,573 shares of the bank’s stock valued at $8,991,000 after buying an additional 3,219 shares during the last quarter. Martingale Asset Management L P increased its holdings in First Busey by 4.3% in the third quarter. Martingale Asset Management L P now owns 188,658 shares of the bank’s stock valued at $5,858,000 after buying an additional 7,704 shares during the last quarter. JPMorgan Chase & Co. increased its holdings in First Busey by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 39,089 shares of the bank’s stock valued at $1,213,000 after buying an additional 3,775 shares during the last quarter. MetLife Investment Advisors LLC increased its holdings in First Busey by 60.0% in the third quarter. MetLife Investment Advisors LLC now owns 32,475 shares of the bank’s stock valued at $1,008,000 after buying an additional 12,175 shares during the last quarter. Finally, Teachers Advisors LLC grew its holdings in shares of First Busey by 2.6% during the third quarter. Teachers Advisors LLC now owns 83,702 shares of the bank’s stock valued at $2,599,000 after purchasing an additional 2,141 shares during the last quarter. Institutional investors and hedge funds own 45.88% of the company’s stock.
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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