First Busey (NASDAQ:BUSE) Stock Price Expected to Rise, DA Davidson Analyst Says

First Busey (NASDAQ:BUSE - Get Free Report) had its target price hoisted by research analysts at DA Davidson from $23.00 to $26.00 in a research note issued to investors on Thursday,Benzinga reports. The brokerage presently has a "neutral" rating on the bank's stock. DA Davidson's price target would indicate a potential upside of 10.76% from the company's previous close.

A number of other research analysts have also weighed in on BUSE. Piper Sandler began coverage on First Busey in a report on Tuesday, July 1st. They set an "overweight" rating and a $30.00 target price for the company. Hovde Group began coverage on First Busey in a report on Monday, June 30th. They set a "market perform" rating and a $25.00 target price for the company. Keefe, Bruyette & Woods reduced their target price on First Busey from $30.00 to $29.00 and set an "outperform" rating for the company in a report on Thursday. Raymond James Financial lifted their target price on First Busey from $25.00 to $27.00 and gave the company an "outperform" rating in a report on Tuesday, July 8th. Finally, Stephens reaffirmed an "equal weight" rating and set a $26.00 target price on shares of First Busey in a report on Wednesday, April 23rd. Four research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $27.17.

First Busey Stock Performance

Shares of NASDAQ BUSE traded down $0.21 during mid-day trading on Thursday, reaching $23.47. 220,562 shares of the company's stock were exchanged, compared to its average volume of 528,353. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of 20.95 and a beta of 0.77. First Busey has a 52 week low of $18.40 and a 52 week high of $28.97. The company has a debt-to-equity ratio of 0.18, a current ratio of 0.90 and a quick ratio of 0.90. The firm has a 50-day moving average price of $23.05 and a two-hundred day moving average price of $22.58.

First Busey (NASDAQ:BUSE - Get Free Report) last announced its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.63 earnings per share for the quarter, topping the consensus estimate of $0.61 by $0.02. First Busey had a return on equity of 9.76% and a net margin of 9.48%. The company had revenue of $192.05 million during the quarter, compared to analyst estimates of $193.91 million. Analysts predict that First Busey will post 2.61 EPS for the current year.

Insider Transactions at First Busey

In other First Busey news, Director Steven W. Caple purchased 1,175 shares of the company's stock in a transaction dated Friday, May 23rd. The stock was purchased at an average price of $21.60 per share, for a total transaction of $25,380.00. Following the transaction, the director owned 4,509 shares in the company, valued at $97,394.40. The trade was a 35.24% increase in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Karen M. Jensen purchased 4,000 shares of the company's stock in a transaction dated Friday, May 30th. The shares were acquired at an average price of $22.00 per share, with a total value of $88,000.00. Following the transaction, the director owned 76,068 shares in the company, valued at approximately $1,673,496. The trade was a 5.55% increase in their position. The disclosure for this purchase can be found here. In the last quarter, insiders have bought 13,125 shares of company stock valued at $286,148. Corporate insiders own 3.85% of the company's stock.

Institutional Trading of First Busey

A number of large investors have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in First Busey by 52.2% in the 1st quarter. Vanguard Group Inc. now owns 4,706,925 shares of the bank's stock worth $101,670,000 after buying an additional 1,613,848 shares during the last quarter. Dimensional Fund Advisors LP lifted its position in First Busey by 45.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 5,096,605 shares of the bank's stock worth $110,086,000 after buying an additional 1,596,262 shares during the last quarter. T. Rowe Price Investment Management Inc. bought a new stake in First Busey in the 1st quarter worth approximately $19,861,000. Hotchkis & Wiley Capital Management LLC lifted its position in First Busey by 648.8% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 918,907 shares of the bank's stock worth $19,848,000 after buying an additional 796,197 shares during the last quarter. Finally, Nuveen LLC bought a new stake in First Busey in the 1st quarter worth approximately $16,837,000. Institutional investors own 56.49% of the company's stock.

First Busey Company Profile

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.

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.