First Busey Co. (NASDAQ:BUSE) Receives Average Recommendation of “Buy” from Analysts

Shares of First Busey Co. (NASDAQ:BUSEGet Free Report) have earned an average rating of “Buy” from the four ratings firms that are currently covering the stock, Marketbeat reports. Four investment analysts have rated the stock with a buy rating. The average 1-year price objective among brokerages that have issued a report on the stock in the last year is $24.50.

Several research analysts have issued reports on the company. Piper Sandler increased their price objective on First Busey from $21.00 to $23.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 28th. Raymond James increased their price objective on First Busey from $24.00 to $27.00 and gave the stock an “outperform” rating in a research note on Tuesday, December 12th. Stephens restated an “overweight” rating and set a $23.00 target price on shares of First Busey in a report on Tuesday, November 28th. StockNews.com upgraded First Busey from a “sell” rating to a “hold” rating in a report on Wednesday, January 24th. Finally, Keefe, Bruyette & Woods increased their target price on First Busey from $24.00 to $25.00 and gave the stock an “outperform” rating in a report on Wednesday, November 29th.

Read Our Latest Analysis on BUSE

First Busey Stock Performance

First Busey stock opened at $23.36 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.77 and a quick ratio of 0.77. The stock has a fifty day moving average price of $24.08 and a two-hundred day moving average price of $21.62. First Busey has a 52-week low of $16.26 and a 52-week high of $25.80. The firm has a market capitalization of $1.29 billion, a P/E ratio of 10.76 and a beta of 0.87.

First Busey Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Friday, January 26th. Investors of record on Friday, January 19th were issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.11%. The ex-dividend date was Thursday, January 18th. First Busey’s dividend payout ratio is 44.24%.

Insider Activity at First Busey

In other news, Director Karen M. Jensen purchased 2,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The shares were acquired at an average price of $24.40 per share, for a total transaction of $61,000.00. Following the completion of the acquisition, the director now directly owns 45,585 shares in the company, valued at $1,112,274. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other First Busey news, Director Michael David Cassens sold 1,240 shares of the firm’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $22.00, for a total transaction of $27,280.00. Following the transaction, the director now owns 155,993 shares in the company, valued at $3,431,846. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Karen M. Jensen bought 2,500 shares of First Busey stock in a transaction on Monday, January 29th. The shares were bought at an average price of $24.40 per share, for a total transaction of $61,000.00. Following the acquisition, the director now owns 45,585 shares of the company’s stock, valued at approximately $1,112,274. The disclosure for this purchase can be found here. Over the last 90 days, insiders have bought 27,600 shares of company stock worth $615,807 and have sold 13,800 shares worth $312,409. 7.10% of the stock is owned by company insiders.

Hedge Funds Weigh In On First Busey

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Lindbrook Capital LLC raised its position in shares of First Busey by 1,143.5% during the fourth quarter. Lindbrook Capital LLC now owns 1,057 shares of the bank’s stock worth $26,000 after purchasing an additional 972 shares during the period. Tower Research Capital LLC TRC raised its position in shares of First Busey by 237.9% during the first quarter. Tower Research Capital LLC TRC now owns 1,409 shares of the bank’s stock worth $29,000 after purchasing an additional 992 shares during the period. Lazard Asset Management LLC acquired a new stake in shares of First Busey during the second quarter worth about $34,000. Point72 Hong Kong Ltd acquired a new stake in shares of First Busey during the first quarter worth about $36,000. Finally, DHJJ Financial Advisors Ltd. acquired a new stake in shares of First Busey during the third quarter worth about $39,000. Institutional investors own 53.22% of the company’s stock.

About First Busey

(Get Free Report

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. It operates through three segments: Banking, FirsTech, and Wealth Management.

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