Raymond James Financial Issues Positive Forecast for First Busey (NASDAQ:BUSE) Stock Price

First Busey (NASDAQ:BUSE - Get Free Report) had its price objective raised by investment analysts at Raymond James Financial from $25.00 to $27.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Raymond James Financial's price objective suggests a potential upside of 11.76% from the company's previous close.

A number of other analysts also recently issued reports on BUSE. Hovde Group began coverage on shares of First Busey in a report on Monday, June 30th. They set a "market perform" rating and a $25.00 price target on the stock. Wall Street Zen raised shares of First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Stephens reissued an "equal weight" rating and issued a $26.00 price target on shares of First Busey in a research note on Wednesday, April 23rd. Finally, Piper Sandler assumed coverage on shares of First Busey in a research note on Tuesday, July 1st. They set an "overweight" rating and a $30.00 target price on the stock. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $27.67.

First Busey Stock Performance

Shares of BUSE stock traded down $0.14 during trading hours on Tuesday, hitting $24.16. The company's stock had a trading volume of 116,850 shares, compared to its average volume of 409,994. The company has a 50 day moving average of $22.53 and a 200 day moving average of $22.54. The stock has a market cap of $2.16 billion, a PE ratio of 22.55 and a beta of 0.77. 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.

First Busey (NASDAQ:BUSE - Get Free Report) last released its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.57 EPS for the quarter, beating the consensus estimate of $0.53 by $0.04. The business had revenue of $140.72 million for the quarter, compared to the consensus estimate of $140.15 million. First Busey had a net margin of 8.32% and a return on equity of 8.46%. On average, sell-side 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 Steven W. Caple acquired 1,175 shares of the company's stock in a transaction that occurred on 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 completion of the acquisition, the director owned 4,509 shares of the company's stock, valued at approximately $97,394.40. This trade represents a 35.24% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Karen M. Jensen acquired 5,500 shares of the company's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $21.70 per share, with a total value of $119,350.00. Following the acquisition, the director directly owned 72,068 shares of the company's stock, valued at approximately $1,563,875.60. This represents a 8.26% increase in their position. The disclosure for this purchase can be found here. Insiders purchased 13,125 shares of company stock valued at $286,148 in the last 90 days. Company insiders own 3.85% of the company's stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. boosted its holdings in shares of First Busey by 1,173.5% in the 4th quarter. PNC Financial Services Group Inc. now owns 1,439 shares of the bank's stock valued at $34,000 after buying an additional 1,326 shares in the last quarter. Meeder Asset Management Inc. raised its holdings in First Busey by 161.1% during the fourth quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank's stock worth $40,000 after purchasing an additional 1,047 shares in the last quarter. Sterling Capital Management LLC raised its stake in shares of First Busey by 822.7% during the 4th quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank's stock worth $40,000 after buying an additional 1,522 shares in the last quarter. Quarry LP lifted its holdings in First Busey by 507.5% in the fourth quarter. Quarry LP now owns 1,786 shares of the bank's stock valued at $42,000 after acquiring an additional 1,492 shares during the period. Finally, Golden State Wealth Management LLC acquired a new stake in shares of First Busey in the first quarter valued at about $43,000. 56.49% of the stock is owned by institutional investors and hedge funds.

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.