The stock of First Busey Corporation (NASDAQ:BUSE) last traded at $24.07, down -0.12% from the previous session.
Data from the available sources indicates that First Busey Corporation (NASDAQ:BUSE) is covered by 6 analysts. The consensus rating among analysts is ‘Overweight’. As we calculate the median target price by taking the range between a high of $30.00 and a low of $27.00, we find $29.00. Given the previous closing price of $24.10, this indicates a potential upside of 20.33 percent. BUSE stock price is now -4.57% away from the 50-day moving average and 0.24% away from the 200-day moving average. The market capitalization of the company currently stands at $1.32B.
In total, 1 analysts have assigned it a hold rating, and 4 have given it a buy rating. Brokers who have rated the stock have averaged $28.83 as their price target over the next twelve months.
With the price target maintained at $31, Raymond James recently Upgraded its rating from Mkt Perform to Outperform for First Busey Corporation (NASDAQ: BUSE)., while ‘DA Davidson’ rates the stock as ‘Neutral’.
In other news, Cassens Michael David, Director sold 2,300 shares of the company’s stock on Jan 17. The stock was sold for $56,971 at an average price of $24.77. Upon completion of the transaction, the Director now directly owns 166,983 shares in the company, valued at $4.02 million. An SEC document containing details of the transaction can be found on the SEC’s website. On Dec 15, Director Cassens Michael David sold 2,300 shares of the business’s stock. A total of $56,902 was realized by selling the stock at an average price of $24.74. This leaves the insider owning 169,284 shares of the company worth $4.07 million. Insiders disposed of 43,245 shares of company stock worth roughly $1.04 million over the past 1 year. A total of 2.10% of the company’s stock is owned by insiders.
There have been several recent changes in the stakes of large investors in BUSE stock. A new stake in First Busey Corporation shares was purchased by CORNERCAP INVESTMENT COUNSEL INC during the first quarter worth $1,089,000. SENTINUS, LLC invested $795,000 in shares of BUSE during the first quarter. In the first quarter, MARTINGALE ASSET MANAGEMENT L P acquired a new stake in First Busey Corporation valued at approximately $763,000. SUSQUEHANNA INTERNATIONAL GROUP, LLP acquired a new stake in BUSE for approximately $574,000. TEACHER RETIREMENT SYSTEM OF TEXAS purchased a new stake in BUSE valued at around $566,000 in the second quarter. In total, there are 213 active investors with 51.60% ownership of the company’s stock.
With an opening price of $24.18 on Tuesday morning, First Busey Corporation (NASDAQ: BUSE) set off the trading day. During the past 12 months, First Busey Corporation has had a low of $21.66 and a high of $28.98. The fifty day moving average price for BUSE is $25.22 and a two-hundred day moving average price translates $24.01 for the stock.
The latest earnings results from First Busey Corporation (NASDAQ: BUSE) was released for Sep, 2022. According to the Banks – Regional Company, earnings per share came in at $0.64, inline with analysts’ expectations of $0.64. This compares to $0.46 EPS in the same period last year. The net profit margin was 37.40% and return on equity was 10.30% for BUSE. The company reported revenue of $95.42 million for the quarter, compared to $77.86 million a year earlier. Comparatively to last year’s same quarter, the company’s quarterly revenue rose 22.54 percent. For the current quarter, analysts expect BUSE to generate $120.62M in revenue.
Moreover, the firm recently paid out its quarterly dividend on 01/27/2023. Investors who held shares on 01/20/2023 were paid a $0.24 dividend. On an annualized basis, this represents a $0.96 dividend and a 3.99% percent yield. There was an ex-dividend date of 01/19/2023 for this dividend. In terms of dividend payout ratio, BUSE is presently at 41.20%.
First Busey Corporation(BUSE) 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 through three segments: Banking, FirsTech, and Wealth Management. It offers banking services to individual and corporate customers. The company also provides asset management, investment, brokerage, fiduciary, philanthropic advisory, tax preparation, and farm management services. Further, it offers payment technology solutions through its payment platform, such as walk-in payment processing for customers at retail pay agents; online bill payment solutions; customer service payments accepted over the telephone; mobile bill pay; direct debit services; electronic concentration of payments delivered to automated clearing house network; money management and credit card networks; and lockbox remittance processing to make payments by mail, as well as provides tools related to billing, reconciliation, bill reminders, and treasury services. The company has 46 banking centers in Illinois; 8 in Missouri; 3 in southwest Florida; and 1 in Indianapolis, Indiana. First Busey Corporation was founded in 1868 and is headquartered in Champaign, Illinois.