According to Zacks, “First Busey Corporation is a financial holding company located in Urbana, Illinois. First Busey is engaged primarily in commercial, retail and correspondent banking and provides trust services, insurance services, and travel services. “
Separately, Keefe, Bruyette & Woods increased their price objective on First Busey Corp. from $22.00 to $23.00 and gave the stock a market perform rating in a research report on Monday, August 1st. One research analyst has rated the stock with a sell rating, three have issued a hold rating and three have issued a buy rating to the company. The stock currently has a consensus rating of Hold and a consensus target price of $22.83.
Shares of First Busey Corp. (NASDAQ:BUSE) opened at 22.26 on Monday. The company has a 50-day moving average price of $23.10 and a 200-day moving average price of $21.91. The company has a market capitalization of $850.42 million, a P/E ratio of 15.47 and a beta of 0.92. First Busey Corp. has a 12 month low of $17.68 and a 12 month high of $24.02.
First Busey Corp. (NASDAQ:BUSE) last posted its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.37 by $0.02. First Busey Corp. had a return on equity of 10.66% and a net margin of 22.23%. On average, analysts forecast that First Busey Corp. will post $1.52 EPS for the current fiscal year.
In other First Busey Corp. news, Director Stanley J. Bradshaw purchased 1,603 shares of First Busey Corp. stock in a transaction dated Friday, July 29th. The stock was acquired at an average cost of $22.97 per share, with a total value of $36,820.91. Following the acquisition, the director now directly owns 1,250 shares of the company’s stock, valued at $28,712.50. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 11.50% of the stock is owned by insiders.
Several hedge funds have recently bought and sold shares of the stock. Huntington Asset Advisors Inc. acquired a new stake in First Busey Corp. during the first quarter valued at approximately $160,000. Royal Bank of Canada increased its position in First Busey Corp. by 455.5% in the second quarter. Royal Bank of Canada now owns 8,210 shares of the company’s stock valued at $176,000 after buying an additional 6,732 shares during the last quarter. BlackRock Inc. increased its position in First Busey Corp. by 484.2% in the second quarter. BlackRock Inc. now owns 9,406 shares of the company’s stock valued at $201,000 after buying an additional 7,796 shares during the last quarter. Contravisory Investment Management Inc. purchased a new position in First Busey Corp. during the second quarter valued at $222,000. Finally, Barr E S & Co. purchased a new position in First Busey Corp. during the first quarter valued at $222,000. 46.21% of the stock is owned by institutional investors and hedge funds.
About First Busey Corp.
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 at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.
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