Published On: Mon, Sep 12th, 2016

First Busey Corp. (BUSE) Price Target Increased to $23.00 by Analysts at Keefe, Bruyette & Woods

First Busey Corp. (NASDAQ:BUSE) had its target price boosted by equities researchers at Keefe, Bruyette & Woods from $22.00 to $23.00 in a research report issued to clients and investors on Monday. The firm presently has a “market perform” rating on the stock. Keefe, Bruyette & Woods’ price objective suggests a potential downside of 1.50% from the stock’s previous close.
A number of other equities research analysts have also issued reports on BUSE. Zacks Investment Research raised shares of First Busey Corp. from a “sell” rating to a “hold” rating in a report on Thursday, May 12th. DA Davidson started coverage on shares of First Busey Corp. in a report on Thursday, April 7th. They issued a “buy” rating and a $23.00 price objective for the company. Three research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $22.57.
Shares of First Busey Corp. (NASDAQ:BUSE) traded down 0.09% on Monday, hitting $23.35. 120,202 shares of the stock were exchanged. First Busey Corp. has a 52-week low of $17.68 and a 52-week high of $24.02. The stock has a market cap of $892.06 million, a PE ratio of 16.23 and a beta of 0.97. The company’s 50 day moving average is $23.25 and its 200-day moving average is $21.48.

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First Busey Corp. (NASDAQ:BUSE) last announced its quarterly earnings data on Thursday, July 28th. The company reported $0.35 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.37 by $0.02. First Busey Corp. had a net margin of 22.23% and a return on equity of 10.66%. Analysts predict that First Busey Corp. will post $1.52 EPS for the current fiscal year.
In other First Busey Corp. news, Director Stanley J. Bradshaw purchased 1,603 shares of First Busey Corp. stock in a transaction dated Friday, July 29th. The shares were acquired at an average price of $22.97 per share, with a total value of $36,820.91. Following the completion of the transaction, the director now owns 1,250 shares of the company’s stock, valued at $28,712.50. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 11.50% of the company’s stock.
Several hedge funds have modified their holdings of BUSE. Millennium Management LLC boosted its stake in shares of First Busey Corp. by 414.6% in the fourth quarter. Millennium Management LLC now owns 330,424 shares of the company’s stock valued at $6,817,000 after buying an additional 266,212 shares in the last quarter. Rice Hall James & Associates LLC purchased a new stake in shares of First Busey Corp. during the second quarter valued at $1,495,000. Bailard Inc. purchased a new stake in shares of First Busey Corp. during the fourth quarter valued at $1,264,000. Renaissance Technologies LLC boosted its stake in shares of First Busey Corp. by 17.0% in the first quarter. Renaissance Technologies LLC now owns 306,598 shares of the company’s stock valued at $6,279,000 after buying an additional 44,454 shares during the period. Finally, Skyline Asset Management LP boosted its stake in shares of First Busey Corp. by 4.2% in the first quarter. Skyline Asset Management LP now owns 1,040,870 shares of the company’s stock valued at $21,317,000 after buying an additional 41,955 shares during the period. 46.35% of the stock is currently owned by institutional investors and hedge funds.
First Busey Corp. Company Profile
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank). It operates through three segments: Banking, Remittance Processing and Wealth Management.

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