First Busey (NASDAQ:BUSE) Price Target Raised to $34.00 at Keefe, Bruyette & Woods

First Busey (NASDAQ:BUSE) had its price target boosted by equities research analysts at Keefe, Bruyette & Woods from $32.00 to $34.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the bank’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 8.70% from the company’s previous close.

BUSE has been the subject of a number of other reports. Stephens increased their price target on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a research note on Thursday, April 30th. Wall Street Zen downgraded First Busey from a “hold” rating to a “sell” rating in a research report on Sunday, July 12th. Piper Sandler lifted their price target on First Busey from $32.00 to $35.00 and gave the company an “overweight” rating in a research note on Thursday. Raymond James Financial boosted their price target on First Busey from $28.00 to $32.00 and gave the stock an “outperform” rating in a report on Wednesday, July 1st. Finally, Zacks Research raised First Busey from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating and two have assigned a Hold rating to the stock. According to MarketBeat.com, First Busey has an average rating of “Moderate Buy” and an average price target of $32.00.

First Busey Trading Up 1.8%

Shares of First Busey stock opened at $31.28 on Friday. The firm has a market capitalization of $2.65 billion, a PE ratio of 12.93 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.12. The firm’s 50 day moving average is $28.83 and its 200 day moving average is $26.81. First Busey has a 1 year low of $21.63 and a 1 year high of $31.34.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, July 28th. The bank reported $0.69 EPS for the quarter, beating the consensus estimate of $0.63 by $0.06. First Busey had a net margin of 21.00% and a return on equity of 10.42%. The business had revenue of $194.27 million during the quarter, compared to the consensus estimate of $197.59 million. Equities research analysts forecast that First Busey will post 2.6 earnings per share for the current fiscal year.

Insider Activity

In other news, CAO Scott A. Phillips bought 5,000 shares of the company’s stock in a transaction that occurred on Monday, May 4th. The shares were acquired at an average price of $25.90 per share, for a total transaction of $129,500.00. Following the completion of the acquisition, the chief accounting officer directly owned 8,350 shares in the company, valued at approximately $216,265. This represents a 149.25% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Company insiders own 3.77% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Parkside Financial Bank & Trust bought a new stake in shares of First Busey during the fourth quarter valued at approximately $28,000. Litman Gregory Wealth Management LLC acquired a new stake in First Busey in the 4th quarter valued at $30,000. Allworth Financial LP increased its stake in First Busey by 127.8% during the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock valued at $38,000 after purchasing an additional 888 shares in the last quarter. Torren Management LLC acquired a new position in First Busey during the fourth quarter worth $40,000. Finally, Geneos Wealth Management Inc. grew its holdings in shares of First Busey by 726.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock valued at $49,000 after buying an additional 2,004 shares during the last quarter. 56.49% of the stock is owned by institutional investors.

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.