First Busey (NASDAQ:BUSE) Upgraded by Wall Street Zen to Hold Rating

First Busey (NASDAQ:BUSE - Get Free Report) was upgraded by research analysts at Wall Street Zen from a "sell" rating to a "hold" rating in a report released on Thursday.

A number of other equities analysts have also recently issued reports on the company. Stephens reissued an "equal weight" rating and issued a $26.00 target price on shares of First Busey in a report on Wednesday, April 23rd. Piper Sandler decreased their price target on First Busey from $32.00 to $28.00 and set an "overweight" rating on the stock in a research report on Thursday, January 30th. DA Davidson restated a "neutral" rating and set a $25.00 price target on shares of First Busey in a research report on Tuesday, February 25th. Raymond James decreased their price target on First Busey from $29.00 to $27.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 2nd. Finally, Keefe, Bruyette & Woods restated an "outperform" rating and set a $33.00 price target (down from $34.00) on shares of First Busey in a research report on Thursday, January 30th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average price target of $27.80.

First Busey Stock Down 0.9%

Shares of BUSE traded down $0.20 during trading hours on Thursday, hitting $21.61. 420,903 shares of the company were exchanged, compared to its average volume of 359,813. The company has a market cap of $1.93 billion, a PE ratio of 10.97 and a beta of 0.75. The firm's 50 day moving average is $21.17 and its 200-day moving average is $23.35. 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 0.22, a quick ratio of 0.82 and a current ratio of 0.82.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.53 by $0.04. The business had revenue of $140.72 million during the quarter, compared to analysts' expectations of $140.15 million. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, equities research analysts forecast that First Busey will post 2.61 EPS for the current fiscal year.

Insider Buying and Selling

In other First Busey news, Director Stanley J. Bradshaw purchased 1,700 shares of First Busey stock in a transaction that occurred on Thursday, March 13th. The stock was acquired at an average price of $21.70 per share, for a total transaction of $36,890.00. Following the completion of the acquisition, the director now owns 482,143 shares of the company's stock, valued at approximately $10,462,503.10. This trade represents a 0.35% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this link. 7.10% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Busey

Several institutional investors have recently made changes to their positions in BUSE. Geneos Wealth Management Inc. raised its position 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 purchasing an additional 2,004 shares in the last quarter. Mendon Capital Advisors Corp acquired a new position in First Busey during the first quarter valued at approximately $7,737,000. Jane Street Group LLC raised its position in First Busey by 1,659.8% during the first quarter. Jane Street Group LLC now owns 172,810 shares of the bank's stock valued at $3,733,000 after purchasing an additional 162,990 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in First Busey by 78.4% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 222,048 shares of the bank's stock valued at $4,796,000 after purchasing an additional 97,560 shares in the last quarter. Finally, Empowered Funds LLC raised its position in First Busey by 53.4% during the first quarter. Empowered Funds LLC now owns 309,540 shares of the bank's stock valued at $6,686,000 after purchasing an additional 107,795 shares in the last quarter. 56.49% of the stock is currently owned by institutional investors.

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.