First Busey Corporation (NASDAQ:BUSE) Receives Consensus Recommendation of “Moderate Buy” from Analysts

Shares of First Busey Corporation (NASDAQ:BUSE) have earned an average recommendation of “Moderate Buy” from the seven analysts that are currently covering the company, Marketbeat.com reports. Three analysts have rated the stock with a hold rating and four have issued a buy rating on the company. The average 12 month price target among brokers that have issued a report on the stock in the last year is $27.50.

BUSE has been the topic of a number of analyst reports. DA Davidson reaffirmed a “neutral” rating and issued a $27.00 price objective on shares of First Busey in a report on Thursday, January 29th. Weiss Ratings raised First Busey from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Stephens lifted their price objective on First Busey from $27.00 to $28.00 and gave the company an “equal weight” rating in a report on Thursday, April 30th. Finally, Piper Sandler lifted their price objective on First Busey from $29.00 to $30.00 and gave the company an “overweight” rating in a report on Thursday, April 30th.

First Busey Price Performance

Shares of BUSE opened at $25.93 on Thursday. First Busey has a twelve month low of $21.41 and a twelve month high of $27.65. The stock’s 50 day moving average is $25.76 and its two-hundred day moving average is $24.91. The firm has a market capitalization of $2.19 billion, a PE ratio of 11.52 and a beta of 0.72. The company has a current ratio of 0.90, a quick ratio of 0.91 and a debt-to-equity ratio of 0.12.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, April 28th. The bank reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.57 by $0.10. First Busey had a return on equity of 10.19% and a net margin of 19.16%.The company had revenue of $197.17 million for the quarter, compared to analyst estimates of $197.15 million. Research analysts anticipate that First Busey will post 2.57 earnings per share for the current year.

First Busey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 24th were paid a dividend of $0.26 per share. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.04 annualized dividend and a dividend yield of 4.0%. First Busey’s payout ratio is 46.22%.

Insider Activity at First Busey

In other news, CAO Scott A. Phillips purchased 5,000 shares of the firm’s stock in a transaction dated Monday, May 4th. The shares were acquired at an average price of $25.90 per share, with a total value of $129,500.00. Following the purchase, the chief accounting officer directly owned 8,350 shares of the company’s stock, valued at $216,265. The trade was a 149.25% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. 3.77% of the stock is owned by company insiders.

Institutional Investors Weigh In On First Busey

Several institutional investors have recently modified their holdings of BUSE. Parkside Financial Bank & Trust purchased a new stake in shares of First Busey during the 4th quarter worth approximately $28,000. Litman Gregory Wealth Management LLC purchased a new stake in shares of First Busey during the 4th quarter worth approximately $30,000. Allworth Financial LP boosted its stake in shares of First Busey by 127.8% during the 4th quarter. Allworth Financial LP now owns 1,583 shares of the bank’s stock worth $38,000 after acquiring an additional 888 shares in the last quarter. Torren Management LLC purchased a new stake in shares of First Busey during the 4th quarter worth approximately $40,000. Finally, Geneos Wealth Management Inc. boosted its stake in shares of First Busey by 726.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank’s stock worth $49,000 after acquiring an additional 2,004 shares in the last quarter. Hedge funds and other institutional investors own 56.49% of the company’s stock.

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.