First Busey (NASDAQ:BUSE) Given Outperform Rating at Keefe, Bruyette & Woods

First Busey (NASDAQ:BUSEGet Free Report)‘s stock had its “outperform” rating reiterated by Keefe, Bruyette & Woods in a research note issued on Thursday,Benzinga reports. They presently have a $33.00 price objective on the bank’s stock, down from their prior price objective of $34.00. Keefe, Bruyette & Woods’ target price suggests a potential upside of 36.37% from the company’s previous close.

Several other analysts also recently issued reports on the stock. Stephens reissued an “equal weight” rating and issued a $29.00 price objective on shares of First Busey in a research note on Wednesday. Piper Sandler cut their price target on shares of First Busey from $32.00 to $28.00 and set an “overweight” rating on the stock in a report on Thursday. Three investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $29.75.

Get Our Latest Research Report on First Busey

First Busey Price Performance

BUSE stock opened at $24.20 on Thursday. The firm’s 50-day moving average price is $24.64 and its two-hundred day moving average price is $25.53. The stock has a market capitalization of $1.38 billion, a price-to-earnings ratio of 12.36 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. First Busey has a 12-month low of $21.59 and a 12-month high of $28.97.

First Busey (NASDAQ:BUSEGet Free Report) last released its quarterly earnings data on Tuesday, January 28th. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. First Busey had a net margin of 16.94% and a return on equity of 8.94%. As a group, equities analysts predict that First Busey will post 2.07 earnings per share for the current year.

Institutional Investors Weigh In On First Busey

A number of institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in First Busey by 168.7% in the 3rd quarter. FMR LLC now owns 149,279 shares of the bank’s stock worth $3,884,000 after buying an additional 93,733 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in shares of First Busey by 211.9% in the third quarter. Assenagon Asset Management S.A. now owns 100,952 shares of the bank’s stock worth $2,627,000 after purchasing an additional 68,585 shares during the period. Barclays PLC increased its stake in First Busey by 81.1% during the third quarter. Barclays PLC now owns 135,069 shares of the bank’s stock valued at $3,516,000 after acquiring an additional 60,506 shares during the period. JPMorgan Chase & Co. boosted its holdings in First Busey by 9.0% during the third quarter. JPMorgan Chase & Co. now owns 482,287 shares of the bank’s stock valued at $12,549,000 after purchasing an additional 39,900 shares in the last quarter. Finally, Stifel Financial Corp acquired a new position in shares of First Busey in the 3rd quarter worth approximately $757,000. Hedge funds and other institutional investors own 56.49% of the company’s stock.

About First Busey

(Get Free Report)

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.

Read More

Receive News & Ratings for First Busey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Busey and related companies with MarketBeat.com's FREE daily email newsletter.