First Busey (NASDAQ:BUSE) Given New $27.00 Price Target at Raymond James Financial

First Busey (NASDAQ:BUSE - Get Free Report) had its target price hoisted by analysts at Raymond James Financial from $25.00 to $27.00 in a note issued to investors on Tuesday,Benzinga reports. The firm presently has an "outperform" rating on the bank's stock. Raymond James Financial's price target would suggest a potential upside of 12.69% from the company's current price.

A number of other analysts have also recently commented on the stock. Stephens reiterated an "equal weight" rating and issued a $26.00 target price on shares of First Busey in a research note on Wednesday, April 23rd. Hovde Group assumed coverage on shares of First Busey in a research note on Monday, June 30th. They set a "market perform" rating and a $25.00 price objective for the company. Piper Sandler assumed coverage on First Busey in a research report on Tuesday, July 1st. They issued an "overweight" rating and a $30.00 target price on the stock. Finally, Wall Street Zen raised shares of First Busey from a "sell" rating to a "hold" rating in a report on Thursday, May 22nd. Four research 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 an average rating of "Hold" and an average target price of $27.67.

First Busey Stock Down 1.2%

Shares of BUSE traded down $0.30 during midday trading on Tuesday, hitting $23.96. 321,810 shares of the company's stock traded hands, compared to its average volume of 413,013. The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.18. The stock has a market capitalization of $2.14 billion, a price-to-earnings ratio of 22.39 and a beta of 0.77. First Busey has a 1 year low of $18.40 and a 1 year high of $28.97. The firm's fifty day moving average is $22.71 and its 200-day moving average is $22.55.

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

Insider Activity

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 bought at an average price of $21.60 per share, with a total value of $25,380.00. Following the purchase, the director 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Karen M. Jensen bought 5,500 shares of the stock in a transaction dated Friday, May 23rd. The shares were bought 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 in the company, valued at approximately $1,563,875.60. The trade was a 8.26% increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last three months, insiders bought 13,125 shares of company stock worth $286,148. Insiders own 3.85% of the company's stock.

Hedge Funds Weigh In On First Busey

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. increased its stake 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 worth $34,000 after acquiring an additional 1,326 shares during the last quarter. Meeder Asset Management Inc. grew its holdings in shares of First Busey by 161.1% in the fourth quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank's stock valued at $40,000 after purchasing an additional 1,047 shares during the period. Sterling Capital Management LLC increased its position in First Busey by 822.7% during the fourth quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank's stock worth $40,000 after purchasing an additional 1,522 shares during the last quarter. Quarry LP increased its position in First Busey by 507.5% during the fourth quarter. Quarry LP now owns 1,786 shares of the bank's stock worth $42,000 after purchasing an additional 1,492 shares during the last quarter. Finally, Golden State Wealth Management LLC purchased a new position in First Busey during the first quarter worth about $43,000. Institutional investors and hedge funds 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.