First Busey (NASDAQ:BUSE) Downgraded by B. Riley to Neutral

B. Riley lowered shares of First Busey (NASDAQ:BUSE) from a buy rating to a neutral rating in a research report released on Friday morning, Zacks.com reports.

Several other equities research analysts have also recently weighed in on the company. BidaskClub cut First Busey from a sell rating to a strong sell rating in a research report on Friday, January 24th. DA Davidson lowered First Busey from a buy rating to a neutral rating and cut their target price for the stock from $30.00 to $29.00 in a research note on Sunday, February 2nd. ValuEngine lowered First Busey from a hold rating to a sell rating in a research note on Thursday, February 6th. Finally, Zacks Investment Research lowered First Busey from a hold rating to a sell rating in a research note on Wednesday, January 1st. Three investment analysts have rated the stock with a sell rating and three have issued a hold rating to the stock. First Busey presently has an average rating of Hold and a consensus price target of $29.00.

BUSE opened at $26.14 on Friday. The company has a market capitalization of $1.42 billion, a price-to-earnings ratio of 13.90 and a beta of 0.98. First Busey has a 1 year low of $23.44 and a 1 year high of $28.00. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.88 and a quick ratio of 0.87. The firm’s fifty day moving average price is $26.87 and its two-hundred day moving average price is $26.14.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, January 28th. The bank reported $0.52 EPS for the quarter, missing the Zacks’ consensus estimate of $0.54 by ($0.02). First Busey had a return on equity of 9.85% and a net margin of 21.78%. The business had revenue of $103.57 million for the quarter, compared to the consensus estimate of $102.91 million. As a group, equities analysts anticipate that First Busey will post 2.11 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, January 31st. Stockholders of record on Friday, January 24th were paid a dividend of $0.22 per share. This represents a $0.88 dividend on an annualized basis and a dividend yield of 3.37%. The ex-dividend date of this dividend was Thursday, January 23rd. This is a positive change from First Busey’s previous quarterly dividend of $0.21. First Busey’s dividend payout ratio is 40.93%.

Institutional investors have recently made changes to their positions in the stock. First Trust Advisors LP raised its stake in First Busey by 86.5% during the 1st quarter. First Trust Advisors LP now owns 127,968 shares of the bank’s stock valued at $3,122,000 after purchasing an additional 59,368 shares during the period. Bank of America Corp DE grew its position in First Busey by 16.5% in the 2nd quarter. Bank of America Corp DE now owns 191,794 shares of the bank’s stock worth $5,065,000 after purchasing an additional 27,231 shares during the last quarter. Envestnet Asset Management Inc. grew its position in First Busey by 9.4% in the 3rd quarter. Envestnet Asset Management Inc. now owns 37,961 shares of the bank’s stock worth $960,000 after purchasing an additional 3,274 shares during the last quarter. Rhumbline Advisers grew its position in First Busey by 9.6% in the 3rd quarter. Rhumbline Advisers now owns 85,641 shares of the bank’s stock worth $2,165,000 after purchasing an additional 7,488 shares during the last quarter. Finally, California Public Employees Retirement System grew its position in First Busey by 63.7% in the 3rd quarter. California Public Employees Retirement System now owns 134,148 shares of the bank’s stock worth $3,391,000 after purchasing an additional 52,194 shares during the last quarter. Institutional investors own 46.42% 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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