BidaskClub Downgrades First Busey (BUSE) to Sell

First Busey (NASDAQ:BUSE) was downgraded by analysts at BidaskClub from a “hold” rating to a “sell” rating in a note issued to investors on Monday.

Other research analysts have also recently issued reports about the company. Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $31.00 target price for the company in a research report on Wednesday, October 24th. B. Riley set a $36.00 target price on First Busey and gave the stock a “buy” rating in a research report on Monday, October 15th. Piper Jaffray Companies set a $31.00 target price on First Busey and gave the stock a “hold” rating in a research report on Wednesday, October 31st. FIG Partners reaffirmed an “outperform” rating on shares of First Busey in a research report on Wednesday, July 25th. Finally, ValuEngine cut First Busey from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Two investment analysts have rated the stock with a sell rating, two have issued a hold rating and three have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $31.67.

Shares of BUSE stock opened at $28.18 on Monday. The firm has a market capitalization of $1.37 billion, a P/E ratio of 17.50, a PEG ratio of 2.20 and a beta of 1.06. First Busey has a one year low of $26.61 and a one year high of $33.25. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.88 and a quick ratio of 0.87.

First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, October 23rd. The bank reported $0.55 EPS for the quarter, hitting the consensus estimate of $0.55. The firm had revenue of $82.63 million during the quarter, compared to analysts’ expectations of $85.16 million. First Busey had a return on equity of 10.36% and a net margin of 23.02%. As a group, sell-side analysts predict that First Busey will post 2.13 earnings per share for the current fiscal year.

A number of institutional investors have recently added to or reduced their stakes in BUSE. Virginia Retirement Systems ET AL acquired a new position in First Busey during the second quarter worth $209,000. Meeder Asset Management Inc. raised its stake in First Busey by 131.1% during the third quarter. Meeder Asset Management Inc. now owns 8,068 shares of the bank’s stock worth $251,000 after acquiring an additional 4,577 shares in the last quarter. Quantitative Systematic Strategies LLC raised its stake in First Busey by 35.4% during the second quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock worth $333,000 after acquiring an additional 2,747 shares in the last quarter. WINTON GROUP Ltd raised its stake in First Busey by 45.1% during the third quarter. WINTON GROUP Ltd now owns 12,695 shares of the bank’s stock worth $394,000 after acquiring an additional 3,946 shares in the last quarter. Finally, Xact Kapitalforvaltning AB raised its stake in First Busey by 67.5% during the first quarter. Xact Kapitalforvaltning AB now owns 13,395 shares of the bank’s stock worth $398,000 after acquiring an additional 5,400 shares in the last quarter. Hedge funds and other institutional investors own 52.19% of the company’s stock.

First Busey Company Profile

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.

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