ValuEngine cut shares of First Busey Corporation (NASDAQ:BUSE) from a buy rating to a hold rating in a research report sent to investors on Friday.
BUSE has been the subject of several other reports. Zacks Investment Research raised First Busey Corporation from a hold rating to a buy rating and set a $35.00 target price for the company in a research report on Monday, October 2nd. Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the stock a hold rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reaffirmed a hold rating and issued a $32.00 target price on shares of First Busey Corporation in a research report on Thursday, October 26th. FBR & Co reaffirmed a neutral rating and issued a $34.00 target price (up from $32.00) on shares of First Busey Corporation in a research report on Wednesday, October 25th. Finally, BidaskClub cut First Busey Corporation from a hold rating to a sell rating in a research report on Wednesday, July 19th. One equities research analyst has rated the stock with a sell rating and five have given a hold rating to the stock. The company has an average rating of Hold and a consensus target price of $33.25.
Shares of First Busey Corporation (NASDAQ:BUSE) traded up $0.18 during mid-day trading on Friday, reaching $29.57. The company had a trading volume of 240,100 shares, compared to its average volume of 140,161. The company has a market capitalization of $1,438.14, a PE ratio of 17.39, a P/E/G ratio of 2.88 and a beta of 0.99. First Busey Corporation has a 52-week low of $25.29 and a 52-week high of $32.44. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.93.
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The company also recently announced a quarterly dividend, which was paid on Friday, October 27th. Investors of record on Friday, October 20th were given a $0.18 dividend. The ex-dividend date was Thursday, October 19th. This represents a $0.72 annualized dividend and a yield of 2.43%. First Busey Corporation’s dividend payout ratio (DPR) is currently 47.06%.
A number of institutional investors have recently added to or reduced their stakes in BUSE. Teachers Advisors LLC raised its stake in First Busey Corporation by 3.2% during the first quarter. Teachers Advisors LLC now owns 52,597 shares of the bank’s stock worth $1,546,000 after acquiring an additional 1,625 shares in the last quarter. Vanguard Group Inc. raised its stake in First Busey Corporation by 7.8% during the first quarter. Vanguard Group Inc. now owns 1,457,492 shares of the bank’s stock worth $42,850,000 after acquiring an additional 105,803 shares in the last quarter. Geode Capital Management LLC raised its stake in First Busey Corporation by 12.8% during the first quarter. Geode Capital Management LLC now owns 319,939 shares of the bank’s stock worth $9,406,000 after acquiring an additional 36,377 shares in the last quarter. Dimensional Fund Advisors LP raised its stake in First Busey Corporation by 4.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,697,899 shares of the bank’s stock worth $49,918,000 after acquiring an additional 71,916 shares in the last quarter. Finally, Renaissance Technologies LLC raised its stake in First Busey Corporation by 14.7% during the first quarter. Renaissance Technologies LLC now owns 414,900 shares of the bank’s stock worth $12,198,000 after acquiring an additional 53,300 shares in the last quarter. Hedge funds and other institutional investors own 45.43% of the company’s stock.
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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