First Busey Corporation (NASDAQ:BUSE) was downgraded by equities research analysts at ValuEngine from a “buy” rating to a “hold” rating in a research note issued to investors on Friday, November 10th.
Several other equities analysts have also recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $32.00 price target on shares of First Busey Corporation in a research note on Thursday, October 26th. Zacks Investment Research raised shares of First Busey Corporation from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research note on Monday, October 2nd. FBR & Co reaffirmed a “neutral” rating and set a $34.00 price target (up from $32.00) on shares of First Busey Corporation in a research note on Wednesday, October 25th. Piper Jaffray Companies set a $32.00 price target on shares of First Busey Corporation and gave the stock a “hold” rating in a research note on Tuesday, July 25th. Finally, BidaskClub cut shares of First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. One research analyst has rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. First Busey Corporation has a consensus rating of “Hold” and an average price target of $33.25.
Shares of First Busey Corporation (BUSE) traded up $0.17 on Friday, hitting $30.31. 72,999 shares of the stock traded hands, compared to its average volume of 131,304. The company has a market cap of $1,474.12, a PE ratio of 17.83, a P/E/G ratio of 2.99 and a beta of 0.99. First Busey Corporation has a one year low of $26.38 and a one year high of $32.44. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27.
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In related news, Director George Barr sold 1,665 shares of the firm’s stock in a transaction on Friday, October 27th. The shares were sold at an average price of $32.25, for a total value of $53,696.25. Following the completion of the transaction, the director now directly owns 64,088 shares of the company’s stock, valued at $2,066,838. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 9.60% of the stock is currently owned by company insiders.
Large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA grew its stake in shares of First Busey Corporation by 799.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,460 shares of the bank’s stock valued at $131,000 after buying an additional 3,964 shares in the last quarter. US Bancorp DE grew its stake in shares of First Busey Corporation by 0.5% in the second quarter. US Bancorp DE now owns 4,951 shares of the bank’s stock valued at $145,000 after buying an additional 23 shares in the last quarter. Citigroup Inc. lifted its holdings in First Busey Corporation by 45.5% during the 2nd quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock valued at $188,000 after purchasing an additional 2,009 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in First Busey Corporation by 143.6% during the 3rd quarter. Meeder Asset Management Inc. now owns 5,998 shares of the bank’s stock valued at $188,000 after purchasing an additional 3,536 shares during the last quarter. Finally, Magnetar Financial LLC acquired a new stake in First Busey Corporation during the 3rd quarter valued at $204,000. 44.40% of the stock is owned by institutional investors and hedge funds.
About First Busey Corporation
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. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.
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