Brokerages Set First Busey Co. (NASDAQ:BUSE) Target Price at $25.75

Shares of First Busey Co. (NASDAQ:BUSE) have earned an average recommendation of “Buy” from the four ratings firms that are presently covering the firm, Marketbeat.com reports. Four research analysts have rated the stock with a buy rating. The average 1-year price target among brokerages that have updated their coverage on the stock in the last year is $25.75.

A number of research firms have weighed in on BUSE. StockNews.com lowered First Busey from a “hold” rating to a “sell” rating in a research note on Monday, April 22nd. Stephens reissued an “overweight” rating and set a $28.00 target price on shares of First Busey in a research note on Wednesday, April 24th.

Insider Buying and Selling

In related news, Director Michael David Cassens sold 2,300 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $23.02, for a total value of $52,946.00. Following the completion of the sale, the director now directly owns 141,278 shares of the company’s stock, valued at $3,252,219.56. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, Director Karen M. Jensen bought 2,000 shares of First Busey stock in a transaction on Friday, March 1st. The stock was acquired at an average cost of $22.98 per share, for a total transaction of $45,960.00. Following the completion of the acquisition, the director now owns 47,585 shares of the company’s stock, valued at approximately $1,093,503.30. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael David Cassens sold 2,300 shares of the business’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $23.02, for a total transaction of $52,946.00. Following the completion of the transaction, the director now owns 141,278 shares of the company’s stock, valued at $3,252,219.56. The disclosure for this sale can be found here. Over the last three months, insiders acquired 2,317 shares of company stock valued at $53,780 and sold 6,900 shares valued at $157,182. 7.10% of the stock is owned by insiders.

Hedge Funds Weigh In On First Busey

A number of large investors have recently added to or reduced their stakes in the company. Moneta Group Investment Advisors LLC raised its holdings in First Busey by 2.6% in the third quarter. Moneta Group Investment Advisors LLC now owns 35,220 shares of the bank’s stock worth $677,000 after purchasing an additional 880 shares in the last quarter. Lindbrook Capital LLC increased its holdings 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 valued at $26,000 after acquiring an additional 972 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of First Busey by 4.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 23,199 shares of the bank’s stock valued at $446,000 after acquiring an additional 1,007 shares in the last quarter. Swiss National Bank increased its holdings in shares of First Busey by 1.0% during the third quarter. Swiss National Bank now owns 115,499 shares of the bank’s stock valued at $2,220,000 after acquiring an additional 1,200 shares in the last quarter. Finally, Commonwealth Equity Services LLC increased its holdings in shares of First Busey by 4.1% during the third quarter. Commonwealth Equity Services LLC now owns 32,280 shares of the bank’s stock valued at $620,000 after acquiring an additional 1,279 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors.

First Busey Stock Down 1.3 %

NASDAQ BUSE opened at $22.80 on Friday. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.25. The company has a fifty day moving average of $23.05 and a two-hundred day moving average of $22.69. The firm has a market capitalization of $1.26 billion, a price-to-earnings ratio of 11.52 and a beta of 0.85. First Busey has a 52 week low of $16.26 and a 52 week high of $25.80.

First Busey Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 19th were paid a $0.24 dividend. This represents a $0.96 dividend on an annualized basis and a yield of 4.21%. The ex-dividend date of this dividend was Thursday, April 18th. First Busey’s dividend payout ratio (DPR) is presently 48.48%.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.