First Busey Corporation (NASDAQ:BUSE) Given Consensus Recommendation of “Moderate Buy” by Analysts

Shares of First Busey Corporation (NASDAQ:BUSE) have been assigned an average rating of “Moderate Buy” from the seven ratings firms that are presently covering the stock, Marketbeat reports. Three research analysts have rated the stock with a hold recommendation and four have assigned a buy recommendation to the company. The average 1-year price objective among brokers that have updated their coverage on the stock in the last year is $27.00.

BUSE has been the subject of a number of research analyst reports. Weiss Ratings upgraded First Busey from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, March 3rd. DA Davidson restated a “neutral” rating and set a $27.00 price objective on shares of First Busey in a research note on Thursday, January 29th. Finally, Piper Sandler lifted their price objective on shares of First Busey from $26.00 to $29.00 and gave the stock an “overweight” rating in a report on Friday, January 30th.

First Busey Stock Performance

Shares of BUSE stock opened at $24.79 on Wednesday. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 19.22 and a beta of 0.76. First Busey has a one year low of $18.40 and a one year high of $27.65. The company’s 50-day simple moving average is $25.38 and its 200-day simple moving average is $24.33. The company has a debt-to-equity ratio of 0.12, a quick ratio of 0.91 and a current ratio of 0.91.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, January 27th. The bank reported $0.68 earnings per share for the quarter, beating the consensus estimate of $0.61 by $0.07. First Busey had a return on equity of 9.46% and a net margin of 12.96%.The firm had revenue of $201.78 million during the quarter, compared to analyst estimates of $197.70 million. Equities analysts anticipate that First Busey will post 2.61 earnings per share for the current fiscal year.

First Busey Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, January 30th. Stockholders of record on Friday, January 23rd were given a $0.26 dividend. This represents a $1.04 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, January 23rd. This is an increase from First Busey’s previous quarterly dividend of $0.25. First Busey’s payout ratio is 80.62%.

Institutional Investors Weigh In On First Busey

Institutional investors have recently modified their holdings of the business. Wellington Management Group LLP lifted its holdings in First Busey by 94.4% in the third quarter. Wellington Management Group LLP now owns 7,135,906 shares of the bank’s stock worth $165,196,000 after acquiring an additional 3,464,965 shares during the last quarter. Northwestern Mutual Wealth Management Co. grew its holdings in shares of First Busey by 36,664.6% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 3,131,973 shares of the bank’s stock valued at $74,510,000 after purchasing an additional 3,123,454 shares during the last quarter. Mirabella Financial Services LLP bought a new position in shares of First Busey during the second quarter valued at approximately $20,113,000. Stieven Capital Advisors L.P. acquired a new stake in shares of First Busey during the 3rd quarter worth approximately $9,607,000. Finally, Loomis Sayles & Co. L P acquired a new stake in shares of First Busey during the 2nd quarter worth approximately $8,343,000. Institutional investors own 56.49% of the company’s stock.

First Busey Company Profile

First Busey (NASDAQ: BUSE) is a bank holding company headquartered in Champaign, Illinois, with roots tracing back to the founding of Busey Bank in 1868. As a regional financial institution, it offers a broad spectrum of banking services to individuals, small businesses, and corporations. Its core activities include commercial lending, deposit-taking, and cash management, which are tailored to meet the needs of local communities across its operating footprint.

In addition to traditional banking operations, First Busey provides wealth management and trust services through its subsidiary aimed at high-net-worth clients and fiduciary accounts.