First Busey (NASDAQ:BUSE) Earns Neutral Rating from DA Davidson

First Busey (NASDAQ:BUSE)‘s stock had its “neutral” rating reiterated by equities researchers at DA Davidson in a research report issued on Thursday,Benzinga reports. They presently have a $27.00 price target on the bank’s stock. DA Davidson’s price target would indicate a potential upside of 10.19% from the stock’s previous close.

BUSE has been the topic of a number of other research reports. Piper Sandler dropped their price target on First Busey from $30.00 to $26.00 and set an “overweight” rating on the stock in a research note on Friday, October 31st. Raymond James Financial reaffirmed an “outperform” rating and issued a $26.00 target price (down from $28.00) on shares of First Busey in a report on Thursday, October 30th. Finally, Weiss Ratings reiterated a “hold (c+)” rating on shares of First Busey in a research note on Monday, December 29th. Three investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, First Busey presently has an average rating of “Hold” and an average price target of $26.50.

First Busey Stock Up 0.5%

Shares of NASDAQ:BUSE traded up $0.11 during trading on Thursday, hitting $24.50. 546,074 shares of the company were exchanged, compared to its average volume of 562,537. The company has a debt-to-equity ratio of 0.11, a current ratio of 0.91 and a quick ratio of 0.91. The firm’s 50 day moving average price is $24.31 and its 200-day moving average price is $23.76. The stock has a market capitalization of $2.17 billion, a P/E ratio of 21.35 and a beta of 0.79. First Busey has a 12-month low of $18.40 and a 12-month high of $26.08.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, January 27th. The bank reported $0.68 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.07. The firm had revenue of $201.78 million during the quarter, compared to analysts’ expectations of $197.70 million. First Busey had a net margin of 12.96% and a return on equity of 9.59%. On average, research analysts predict that First Busey will post 2.61 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Busey news, President Mike Maddox bought 1,000 shares of the business’s stock in a transaction on Wednesday, December 3rd. The stock was bought at an average price of $25.52 per share, for a total transaction of $25,520.00. Following the completion of the transaction, the president owned 40,280 shares in the company, valued at approximately $1,027,945.60. The trade was a 2.55% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Scott A. Phillips acquired 1,350 shares of the business’s stock in a transaction that occurred on Friday, October 31st. The shares were bought at an average price of $25.64 per share, with a total value of $34,614.00. Following the completion of the transaction, the chief accounting officer directly owned 2,350 shares in the company, valued at approximately $60,254. The trade was a 135.00% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 2,250 shares of company stock worth $54,398. Insiders own 3.85% of the company’s stock.

Hedge Funds Weigh In On First Busey

Several large investors have recently added to or reduced their stakes in BUSE. Universal Beteiligungs und Servicegesellschaft mbH boosted its position in shares of First Busey by 33.0% in the fourth quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 204,447 shares of the bank’s stock worth $4,864,000 after acquiring an additional 50,685 shares during the last quarter. Daytona Street Capital LLC acquired a new stake in First Busey in the 4th quarter valued at $318,000. Savvy Advisors Inc. purchased a new stake in shares of First Busey in the fourth quarter worth about $2,905,000. Canvas Wealth Advisors LLC purchased a new stake in shares of First Busey during the fourth quarter valued at approximately $1,702,000. Finally, SG Americas Securities LLC increased its stake in First Busey by 31.5% during the 4th quarter. SG Americas Securities LLC now owns 38,442 shares of the bank’s stock worth $915,000 after buying an additional 9,202 shares during the period. 56.49% of the stock is currently owned by hedge funds and other 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.