First Busey Corporation (NASDAQ:BUSE) Given Consensus Rating of "Moderate Buy" by Analysts

Key Points

• Analyst consensus: Seven analysts give First Busey a "Moderate Buy" (4 buys, 3 holds) with an average 12‑month target of $27.50 and recent target increases such as Piper Sandler's $30.
• Insider buying: CAO Scott A. Phillips bought 5,000 shares at $25.90, raising his position 149%, and insiders now own 3.77% of the company.
• Financials & shareholder return: First Busey topped Q1 EPS estimates ($0.67 vs. $0.57), reported revenue roughly in line, and pays a $0.26 quarterly dividend (about a 3.9% yield) with a P/E of 11.88 and $2.29B market cap.

First Busey Corporation (NASDAQ:BUSE - Get Free Report) has been given an average recommendation of "Moderate Buy" by the seven research firms that are currently covering the firm, 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 12 month target price among brokerages that have covered the stock in the last year is $27.50.

Several research analysts have recently issued reports on BUSE shares. Stephens increased their price target on First Busey from $27.00 to $28.00 and gave the stock an "equal weight" rating in a research note on Thursday, April 30th. Piper Sandler increased their price target on First Busey from $29.00 to $30.00 and gave the stock an "overweight" rating in a research note on Thursday, April 30th. Weiss Ratings raised First Busey from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Tuesday, March 3rd. Finally, DA Davidson reissued a "neutral" rating and issued a $27.00 price target on shares of First Busey in a research note on Thursday, January 29th.

Insider Activity

In other First Busey news, CAO Scott A. Phillips purchased 5,000 shares of the firm's stock in a transaction dated Monday, May 4th. The stock was bought at an average price of $25.90 per share, with a total value of $129,500.00. Following the completion of the purchase, the chief accounting officer owned 8,350 shares in the company, valued at $216,265. This trade represents a 149.25% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 3.77% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BUSE. Parkside Financial Bank & Trust bought a new position in First Busey during the fourth quarter valued at about $28,000. Litman Gregory Wealth Management LLC bought a new position in First Busey during the fourth quarter valued at about $30,000. Allworth Financial LP boosted its stake in First Busey by 127.8% during the fourth quarter. Allworth Financial LP now owns 1,583 shares of the bank's stock valued at $38,000 after buying an additional 888 shares in the last quarter. Torren Management LLC bought a new position in First Busey during the fourth quarter valued at about $40,000. Finally, Geneos Wealth Management Inc. boosted its stake in First Busey by 726.1% during the first quarter. Geneos Wealth Management Inc. now owns 2,280 shares of the bank's stock valued at $49,000 after buying an additional 2,004 shares in the last quarter. Institutional investors own 56.49% of the company's stock.

First Busey Price Performance

Shares of BUSE opened at $26.73 on Thursday. The company has a market cap of $2.29 billion, a P/E ratio of 11.88 and a beta of 0.72. The stock has a fifty day moving average price of $25.70 and a 200 day moving average price of $24.80. The company has a debt-to-equity ratio of 0.12, a current ratio of 0.91 and a quick ratio of 0.91. First Busey has a 12 month low of $21.41 and a 12 month high of $27.65.

First Busey (NASDAQ:BUSE - Get Free Report) last issued its quarterly earnings data on Tuesday, April 28th. The bank reported $0.67 EPS for the quarter, topping analysts' consensus estimates of $0.57 by $0.10. First Busey had a return on equity of 10.16% and a net margin of 19.16%.The firm had revenue of $197.17 million during the quarter, compared to the consensus estimate of $197.15 million. On average, research analysts forecast that First Busey will post 2.57 earnings per share for the current year.

First Busey Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, May 1st. Stockholders of record on Friday, April 24th were paid a $0.26 dividend. The ex-dividend date of this dividend was Friday, April 24th. This represents a $1.04 annualized dividend and a dividend yield of 3.9%. First Busey's dividend payout ratio is presently 46.22%.

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.

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