First Busey (BUSE) Cut to Sell at BidaskClub

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

A number of other analysts have also commented on BUSE. Zacks Investment Research lowered First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. B. Riley set a $36.00 target price on First Busey and gave the company a “buy” rating in a research report on Monday, October 15th. ValuEngine lowered First Busey from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Finally, Piper Jaffray Companies set a $31.00 target price on First Busey and gave the company a “hold” rating in a research report on Wednesday, October 31st. Two equities research analysts have rated the stock with a sell rating, two have assigned a hold rating and three have issued a buy rating to the stock. First Busey presently has a consensus rating of “Hold” and a consensus target price of $31.67.

BUSE stock opened at $28.59 on Tuesday. First Busey has a 1-year low of $26.61 and a 1-year high of $33.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $1.40 billion, a PE ratio of 17.76, a price-to-earnings-growth ratio of 2.26 and a beta of 1.00.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.55 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.55. First Busey had a return on equity of 10.29% and a net margin of 23.02%. The firm had revenue of $82.63 million during the quarter, compared to analyst estimates of $85.16 million. Analysts expect that First Busey will post 2.12 earnings per share for the current year.

A number of institutional investors have recently modified their holdings of BUSE. Deprince Race & Zollo Inc. increased its position in First Busey by 401.9% in the 3rd quarter. Deprince Race & Zollo Inc. now owns 940,676 shares of the bank’s stock valued at $29,208,000 after buying an additional 753,254 shares in the last quarter. BlackRock Inc. increased its holdings in First Busey by 10.5% during the 2nd quarter. BlackRock Inc. now owns 2,812,785 shares of the bank’s stock worth $89,220,000 after purchasing an additional 268,011 shares in the last quarter. Russell Investments Group Ltd. increased its holdings in First Busey by 385.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 316,572 shares of the bank’s stock worth $9,828,000 after purchasing an additional 251,308 shares in the last quarter. Renaissance Technologies LLC increased its holdings in First Busey by 25.6% during the 3rd quarter. Renaissance Technologies LLC now owns 897,025 shares of the bank’s stock worth $27,853,000 after purchasing an additional 182,600 shares in the last quarter. Finally, Dimensional Fund Advisors LP increased its holdings in First Busey by 8.3% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,181,587 shares of the bank’s stock worth $67,738,000 after purchasing an additional 167,545 shares in the last quarter. 51.10% of the stock is owned by institutional investors and hedge funds.

About First Busey

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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