First Busey’s (BUSE) Neutral Rating Reiterated at DA Davidson

First Busey (NASDAQ:BUSE)‘s stock had its “neutral” rating reissued by stock analysts at DA Davidson in a note issued to investors on Tuesday,Benzinga reports. They currently have a $25.00 price target on the bank’s stock. DA Davidson’s price target suggests a potential upside of 3.95% from the stock’s current price.

BUSE has been the topic of a number of other reports. Keefe, Bruyette & Woods restated an “outperform” rating and set a $33.00 price target (down from $34.00) on shares of First Busey in a research report on Thursday, January 30th. Piper Sandler dropped their price target on First Busey from $32.00 to $28.00 and set an “overweight” rating for the company in a research report on Thursday, January 30th. Finally, Stephens reiterated an “equal weight” rating and set a $26.00 price objective on shares of First Busey in a research report on Monday. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, First Busey has a consensus rating of “Hold” and a consensus target price of $28.00.

First Busey Stock Performance

NASDAQ BUSE traded up $0.05 during mid-day trading on Tuesday, reaching $24.05. 70,817 shares of the stock were exchanged, compared to its average volume of 338,693. The company has a debt-to-equity ratio of 0.22, a quick ratio of 0.82 and a current ratio of 0.82. First Busey has a 1 year low of $21.59 and a 1 year high of $28.97. The business’s 50 day moving average is $23.83 and its 200-day moving average is $25.25. The company has a market capitalization of $1.37 billion, a P/E ratio of 12.18 and a beta of 0.87.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.53 EPS for the quarter, topping the consensus estimate of $0.52 by $0.01. First Busey had a net margin of 17.14% and a return on equity of 8.94%. On average, equities research analysts forecast that First Busey will post 2.61 EPS for the current fiscal year.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. PNC Financial Services Group Inc. raised its position in First Busey by 1,173.5% in the fourth quarter. PNC Financial Services Group Inc. now owns 1,439 shares of the bank’s stock valued at $34,000 after purchasing an additional 1,326 shares during the period. R Squared Ltd acquired a new stake in shares of First Busey in the fourth quarter valued at $35,000. Huntington National Bank purchased a new stake in shares of First Busey in the 3rd quarter valued at $38,000. Meeder Asset Management Inc. lifted its holdings in First Busey by 161.1% during the 4th quarter. Meeder Asset Management Inc. now owns 1,697 shares of the bank’s stock worth $40,000 after buying an additional 1,047 shares in the last quarter. Finally, Sterling Capital Management LLC boosted its stake in shares of First Busey by 822.7% in the 4th quarter. Sterling Capital Management LLC now owns 1,707 shares of the bank’s stock valued at $40,000 after buying an additional 1,522 shares during the period. Institutional investors and hedge funds own 56.49% of the company’s stock.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.