Zacks Investment Research Upgrades First Busey Corporation (BUSE) to “Hold”
First Busey Corporation (NASDAQ:BUSE) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a note issued to investors on Wednesday.
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. “
A number of other brokerages also recently commented on BUSE. BidaskClub downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. FBR & Co reiterated a “neutral” rating and issued a $34.00 price objective (up previously from $32.00) on shares of First Busey Corporation in a research report on Wednesday, October 25th. Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and set a $32.00 target price on shares of First Busey Corporation in a research report on Thursday, October 26th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $33.25.
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A number of hedge funds have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. increased its holdings in First Busey Corporation by 14.1% during the 3rd quarter. Principal Financial Group Inc. now owns 469,227 shares of the bank’s stock valued at $14,715,000 after purchasing an additional 58,077 shares in the last quarter. Prudential Financial Inc. increased its holdings in First Busey Corporation by 57.3% during the 3rd quarter. Prudential Financial Inc. now owns 41,354 shares of the bank’s stock valued at $1,297,000 after purchasing an additional 15,069 shares in the last quarter. Stevens Capital Management LP increased its holdings in First Busey Corporation by 35.1% during the 3rd quarter. Stevens Capital Management LP now owns 13,479 shares of the bank’s stock valued at $423,000 after purchasing an additional 3,500 shares in the last quarter. Rice Hall James & Associates LLC increased its holdings in First Busey Corporation by 48.2% during the 3rd quarter. Rice Hall James & Associates LLC now owns 93,242 shares of the bank’s stock valued at $2,924,000 after purchasing an additional 30,339 shares in the last quarter. Finally, First Midwest Bank Trust Division acquired a new stake in First Busey Corporation during the 3rd quarter valued at $324,000. 45.45% of the stock is owned by hedge funds and other institutional investors.
First Busey Corporation Company Profile
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. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.
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