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

First Busey (NASDAQ:BUSE - Get Free Report) had its target price lifted by Raymond James Financial from $25.00 to $27.00 in a note issued to investors on Tuesday,Benzinga reports. The firm currently has an "outperform" rating on the bank's stock. Raymond James Financial's price target would suggest a potential upside of 11.11% from the stock's current price.

Other equities analysts have also issued reports about the company. 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. Piper Sandler started coverage on First Busey in a research note on Tuesday, July 1st. They issued an "overweight" rating and a $30.00 price target on the stock. Hovde Group started coverage on First Busey in a research note on Monday, June 30th. They issued a "market perform" rating and a $25.00 price target on the stock. Finally, Wall Street Zen raised First Busey from a "sell" rating to a "hold" rating in a research report on Thursday, May 22nd. Four investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price of $27.67.

First Busey Trading Up 1.3%

Shares of First Busey stock traded up $0.30 during midday trading on Tuesday, reaching $24.30. The company had a trading volume of 772,130 shares, compared to its average volume of 411,148. The stock has a fifty day moving average price of $22.53 and a 200 day moving average price of $22.54. 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 market cap of $2.17 billion, a PE ratio of 22.71 and a beta of 0.77. First Busey has a fifty-two week low of $18.40 and a fifty-two week high of $28.97.

First Busey (NASDAQ:BUSE - Get Free Report) last posted its quarterly earnings data on Tuesday, April 22nd. The bank reported $0.57 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $140.15 million. On average, equities analysts anticipate that First Busey will post 2.61 earnings per share for the current year.

Insider Buying and Selling at First Busey

In related news, Director Steven W. Caple purchased 1,175 shares of the firm's stock in a transaction that occurred on Friday, May 23rd. The stock was acquired at an average price of $21.60 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 $97,394.40. This represents a 35.24% 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 Karen M. Jensen purchased 4,000 shares of the firm's stock in a transaction that occurred on Friday, May 30th. The shares were bought at an average price of $22.00 per share, with a total value of $88,000.00. Following the acquisition, the director directly owned 76,068 shares of the company's stock, valued at $1,673,496. This represents a 5.55% increase in their position. The disclosure for this purchase can be found here. Insiders have purchased 13,125 shares of company stock valued at $286,148 in the last quarter. 3.85% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On First Busey

Several institutional investors have recently bought and sold shares of the stock. Signaturefd LLC grew its stake in First Busey by 23.7% in the 1st 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 First Busey by 2.6% in the 1st quarter. M&T Bank Corp now owns 21,069 shares of the bank's stock valued at $455,000 after purchasing an additional 528 shares during the period. Cresset Asset Management LLC grew its stake in First Busey by 2.7% in the 1st quarter. Cresset Asset Management LLC now owns 20,633 shares of the bank's stock valued at $446,000 after purchasing an additional 538 shares during the period. CANADA LIFE ASSURANCE Co grew its stake in First Busey by 10.3% in the 4th quarter. CANADA LIFE ASSURANCE Co now owns 7,396 shares of the bank's stock valued at $174,000 after purchasing an additional 690 shares during the period. Finally, PNC Financial Services Group Inc. grew 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 purchasing an additional 812 shares during the period. 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.