Shares of First Busey Co. (NASDAQ:BUSE) have earned a consensus recommendation of “Hold” from the seven analysts that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell recommendation, two have assigned a hold recommendation and four have assigned a buy recommendation to the company. The average 12 month price objective among analysts that have covered the stock in the last year is $33.33.
BUSE has been the topic of several recent research reports. BidaskClub raised shares of First Busey from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. Zacks Investment Research raised shares of First Busey from a “sell” rating to a “buy” rating and set a $33.00 price target on the stock in a research report on Wednesday, October 17th. B. Riley set a $36.00 price target on shares of First Busey and gave the company a “buy” rating in a research report on Monday, October 15th. Finally, FIG Partners reissued an “outperform” rating on shares of First Busey in a research report on Wednesday, July 25th.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Virginia Retirement Systems ET AL acquired a new position in First Busey in the second quarter valued at about $209,000. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp acquired a new position in First Busey in the first quarter valued at about $208,000. Quantitative Systematic Strategies LLC lifted its position in First Busey by 35.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock valued at $333,000 after buying an additional 2,747 shares during the last quarter. Xact Kapitalforvaltning AB lifted its position in First Busey by 67.5% in the first quarter. Xact Kapitalforvaltning AB now owns 13,395 shares of the bank’s stock valued at $398,000 after buying an additional 5,400 shares during the last quarter. Finally, Emerald Investment Partners LLC lifted its position in First Busey by 44.9% in the second quarter. Emerald Investment Partners LLC now owns 13,474 shares of the bank’s stock valued at $427,000 after buying an additional 4,178 shares during the last quarter. 51.71% of the stock is currently owned by institutional investors.
First Busey (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.55 earnings per share for the quarter, meeting the consensus estimate of $0.55. The firm had revenue of $82.63 million for the quarter, compared to analysts’ expectations of $85.16 million. First Busey had a net margin of 23.02% and a return on equity of 10.36%. As a group, analysts forecast that First Busey will post 2.14 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 19th were given a $0.20 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.80 dividend on an annualized basis and a yield of 2.86%. First Busey’s payout ratio is currently 49.69%.
About First Busey
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
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