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First Busey (NASDAQ:BUSE) Coverage Initiated by Analysts at Piper Sandler

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Stock analysts at Piper Sandler initiated coverage on shares of First Busey (NASDAQ:BUSE - Get Free Report) in a research note issued on Tuesday,Briefing.com Automated Import reports. The brokerage set an "overweight" rating and a $30.00 price target on the bank's stock. Piper Sandler's target price would suggest a potential upside of 31.06% from the stock's previous close.

A number of other research analysts also recently issued reports on BUSE. Hovde Group assumed coverage on shares of First Busey in a research report on Monday. They set a "market perform" rating and a $25.00 target price on the stock. Raymond James Financial dropped their price objective on shares of First Busey from $29.00 to $27.00 and set an "outperform" rating on the stock in a report on Wednesday, April 2nd. Stephens reaffirmed an "equal weight" rating and issued a $26.00 target price on shares of First Busey in a research report on Wednesday, April 23rd. Finally, Wall Street Zen raised First Busey from a "sell" rating to a "hold" rating in a research note on Thursday, May 22nd. Four equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $27.67.

Read Our Latest Research Report on First Busey

First Busey Trading Down 1.4%

BUSE opened at $22.89 on Tuesday. The stock has a market capitalization of $2.05 billion, a P/E ratio of 21.39 and a beta of 0.78. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. First Busey has a 12 month low of $18.40 and a 12 month high of $28.97. The firm's fifty day simple moving average is $22.14 and its 200 day simple moving average is $22.56.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its earnings results on Tuesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, topping analysts' consensus estimates of $0.53 by $0.04. First Busey had a net margin of 8.32% and a return on equity of 8.46%. The firm had revenue of $140.72 million for the quarter, compared to analyst estimates of $140.15 million. As a group, research analysts anticipate that First Busey will post 2.61 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Karen M. Jensen purchased 5,500 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $21.70 per share, for a total transaction of $119,350.00. Following the completion of the acquisition, the director owned 72,068 shares of the company's stock, valued at $1,563,875.60. This represents a 8.26% increase in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven W. Caple acquired 1,175 shares of the business's stock in a transaction on Friday, May 23rd. The shares were purchased at an average cost of $21.60 per share, for a total transaction of $25,380.00. Following the completion of the acquisition, the director directly owned 4,509 shares in the company, valued at approximately $97,394.40. The trade was a 35.24% increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders bought 13,125 shares of company stock worth $286,148 in the last 90 days. Corporate insiders own 3.85% of the company's stock.

Institutional Investors Weigh In On First Busey

A number of hedge funds have recently modified their holdings of the stock. Signaturefd LLC grew its holdings in First Busey by 23.7% during the first quarter. Signaturefd LLC now owns 2,524 shares of the bank's stock valued at $55,000 after purchasing an additional 483 shares during the period. M&T Bank Corp grew its stake in shares of First Busey by 2.6% during the 1st quarter. M&T Bank Corp now owns 21,069 shares of the bank's stock worth $455,000 after acquiring an additional 528 shares during the period. Cresset Asset Management LLC grew its stake in shares of First Busey by 2.7% during the 1st quarter. Cresset Asset Management LLC now owns 20,633 shares of the bank's stock worth $446,000 after acquiring an additional 538 shares during the period. CANADA LIFE ASSURANCE Co increased its holdings in First Busey by 10.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 7,396 shares of the bank's stock worth $174,000 after acquiring an additional 690 shares during the last quarter. Finally, PNC Financial Services Group Inc. raised its stake in First Busey by 56.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 2,251 shares of the bank's stock valued at $49,000 after acquiring an additional 812 shares during the period. Institutional investors own 56.49% of the company's stock.

About First Busey

(Get Free Report)

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.

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Analyst Recommendations for First Busey (NASDAQ:BUSE)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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