First Busey Co. (BUSE) Given Consensus Rating of “Hold” by Brokerages

Shares of First Busey Co. (NASDAQ:BUSE) have been assigned an average recommendation of “Hold” from the seven research firms that are currently covering the firm, Marketbeat.com reports. Two research analysts have rated the stock with a sell rating, two have issued a hold rating and three have assigned a buy rating to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $30.50.

BUSE has been the topic of several research analyst reports. BidaskClub lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Friday, March 15th. B. Riley reiterated a “buy” rating on shares of First Busey in a research report on Wednesday, April 10th. Finally, Zacks Investment Research lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Wednesday, March 13th.

In other First Busey news, Director Thomas G. Sloan purchased 8,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were purchased at an average cost of $25.91 per share, for a total transaction of $207,280.00. Following the completion of the transaction, the director now owns 231,471 shares of the company’s stock, valued at approximately $5,997,413.61. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Stanley J. Bradshaw purchased 1,183 shares of the stock in a transaction that occurred on Thursday, May 30th. The shares were acquired at an average price of $24.95 per share, for a total transaction of $29,515.85. Following the completion of the transaction, the director now directly owns 4,195 shares of the company’s stock, valued at approximately $104,665.25. The disclosure for this purchase can be found here. Insiders have purchased 69,955 shares of company stock worth $1,859,546 over the last 90 days. 7.50% of the stock is currently owned by company insiders.

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Meeder Asset Management Inc. boosted its position in First Busey by 7.8% during the first quarter. Meeder Asset Management Inc. now owns 8,694 shares of the bank’s stock worth $212,000 after acquiring an additional 626 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in First Busey by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,945 shares of the bank’s stock worth $72,000 after purchasing an additional 712 shares during the period. Legal & General Group Plc raised its stake in First Busey by 10.3% during the fourth quarter. Legal & General Group Plc now owns 7,893 shares of the bank’s stock worth $194,000 after purchasing an additional 738 shares during the period. Blair William & Co. IL raised its stake in First Busey by 3.0% during the first quarter. Blair William & Co. IL now owns 46,820 shares of the bank’s stock worth $1,142,000 after purchasing an additional 1,375 shares during the period. Finally, Great West Life Assurance Co. Can raised its stake in First Busey by 44.5% during the first quarter. Great West Life Assurance Co. Can now owns 6,699 shares of the bank’s stock worth $163,000 after purchasing an additional 2,063 shares during the period. Hedge funds and other institutional investors own 45.88% of the company’s stock.

Shares of NASDAQ BUSE opened at $24.87 on Friday. First Busey has a 52-week low of $23.13 and a 52-week high of $33.25. The stock has a market capitalization of $1.40 billion, a PE ratio of 11.84, a P/E/G ratio of 1.99 and a beta of 1.00. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.23.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.51 by ($0.03). First Busey had a net margin of 25.94% and a return on equity of 10.23%. The company had revenue of $94.33 million during the quarter, compared to analyst estimates of $96.24 million. Research analysts predict that First Busey will post 2.13 earnings per share for the current fiscal year.

First Busey Company Profile

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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