Zacks Investment Research upgraded shares of First Busey (NASDAQ:BUSE) from a strong sell rating to a hold rating in a research note released on Tuesday, Zacks.com reports.

According to Zacks, “First Busey Corporation is a financial holding company located in Urbana, Illinois. First Busey is engaged primarily in commercial, retail and correspondent banking and provides trust services, insurance services, and travel services. “

BUSE has been the topic of several other research reports. ValuEngine upgraded First Busey from a sell rating to a hold rating in a report on Monday, June 1st. B. Riley lowered their target price on First Busey from $29.00 to $22.00 and set a neutral rating on the stock in a research note on Monday, April 13th. BidaskClub cut First Busey from a hold rating to a sell rating in a research note on Saturday, June 13th. TheStreet cut First Busey from a b- rating to a c+ rating in a research note on Thursday, March 5th. Finally, Stephens raised First Busey from an equal weight rating to an overweight rating in a research note on Thursday, April 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has assigned a buy rating to the stock. First Busey currently has an average rating of Hold and a consensus price target of $26.67.

Shares of First Busey stock opened at $17.73 on Tuesday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.18. The company’s 50-day moving average price is $17.65 and its two-hundred day moving average price is $21.02. First Busey has a 52 week low of $11.00 and a 52 week high of $28.00. The stock has a market cap of $977.59 million, a PE ratio of 10.70 and a beta of 1.14.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, April 28th. The bank reported $0.28 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.37 by ($0.09). The company had revenue of $96.95 million for the quarter, compared to analyst estimates of $98.26 million. First Busey had a return on equity of 8.84% and a net margin of 19.57%. On average, equities analysts predict that First Busey will post 1.48 EPS for the current fiscal year.

In other news, Director Stanley J. Bradshaw purchased 5,800 shares of the stock in a transaction that occurred on Tuesday, May 12th. The stock was acquired at an average price of $15.69 per share, with a total value of $91,002.00. Following the purchase, the director now owns 6,288 shares in the company, valued at approximately $98,658.72. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Stanley J. Bradshaw purchased 4,198 shares of the stock in a transaction that occurred on Thursday, May 14th. The stock was purchased at an average cost of $14.50 per share, with a total value of $60,871.00. Following the purchase, the director now owns 6,288 shares in the company, valued at approximately $91,176. The disclosure for this purchase can be found here. Insiders own 7.50% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Great West Life Assurance Co. Can bought a new stake in shares of First Busey in the 4th quarter valued at approximately $110,000. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of First Busey by 28.2% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,184 shares of the bank’s stock valued at $89,000 after buying an additional 1,140 shares in the last quarter. Stifel Financial Corp bought a new stake in shares of First Busey in the 4th quarter valued at approximately $203,000. Trexquant Investment LP acquired a new stake in First Busey in the 4th quarter worth approximately $215,000. Finally, Amalgamated Bank acquired a new stake in First Busey in the 4th quarter worth approximately $229,000. 45.99% of the stock is owned by institutional investors and hedge funds.

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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