First Busey (BUSE) Reaches New 1-Year Low at $25.61

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First Busey Co. (NASDAQ:BUSE)’s share price hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $25.61 and last traded at $26.42, with a volume of 6378 shares trading hands. The stock had previously closed at $26.86.

Several equities analysts recently issued reports on the stock. Zacks Investment Research downgraded shares of First Busey from a “buy” rating to a “hold” rating in a report on Tuesday, October 30th. BidaskClub downgraded shares of First Busey from a “hold” rating to a “sell” rating in a report on Tuesday. ValuEngine downgraded shares of First Busey from a “hold” rating to a “sell” rating in a report on Friday, October 19th. Piper Jaffray Companies set a $31.00 target price on shares of First Busey and gave the stock a “hold” rating in a research note on Wednesday, October 31st. Finally, B. Riley dropped their target price on shares of First Busey from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Two analysts have rated the stock with a sell rating, two have given a hold rating and three have given a buy rating to the stock. First Busey presently has a consensus rating of “Hold” and an average target price of $31.67.

The company has a market capitalization of $1.30 billion, a price-to-earnings ratio of 16.54, a PEG ratio of 2.10 and a beta of 1.00. The company has a current ratio of 0.87, a quick ratio of 0.86 and a debt-to-equity ratio of 0.23.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. First Busey had a net margin of 23.02% and a return on equity of 10.29%. The company had revenue of $82.63 million during the quarter, compared to the consensus estimate of $85.16 million. On average, equities analysts predict that First Busey Co. will post 2.12 EPS for the current fiscal year.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Virginia Retirement Systems ET AL bought a new position in shares of First Busey in the second quarter worth about $209,000. GSA Capital Partners LLP acquired a new stake in shares of First Busey during the 3rd quarter worth approximately $249,000. Meeder Asset Management Inc. grew its position in shares of First Busey by 131.1% during the 3rd quarter. Meeder Asset Management Inc. now owns 8,068 shares of the bank’s stock worth $251,000 after buying an additional 4,577 shares during the period. Quantitative Systematic Strategies LLC grew its position in shares of First Busey by 35.4% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock worth $333,000 after buying an additional 2,747 shares during the period. Finally, WINTON GROUP Ltd grew its position in shares of First Busey by 45.1% during the 3rd quarter. WINTON GROUP Ltd now owns 12,695 shares of the bank’s stock worth $394,000 after buying an additional 3,946 shares during the period. 51.10% of the stock is owned by institutional investors.

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First Busey Company Profile (NASDAQ:BUSE)

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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