First Busey (NASDAQ:BUSE) Price Target Lowered to $28.00 at Piper Sandler

First Busey (NASDAQ:BUSE) had its target price dropped by Piper Sandler from $32.00 to $28.00 in a research note issued to investors on Thursday,Benzinga reports. The firm currently has an “overweight” rating on the bank’s stock. Piper Sandler’s price target points to a potential upside of 17.20% from the company’s current price.

BUSE has been the subject of a number of other research reports. Keefe, Bruyette & Woods upped their price objective on shares of First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a report on Wednesday, December 4th. Stephens reissued an “equal weight” rating and issued a $29.00 price objective on shares of First Busey in a report on Wednesday. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $30.00.

First Busey Price Performance

First Busey stock opened at $23.89 on Thursday. First Busey has a 52-week low of $21.59 and a 52-week high of $28.97. The firm has a market capitalization of $1.36 billion, a price-to-earnings ratio of 12.31 and a beta of 0.88. The company has a fifty day simple moving average of $24.64 and a 200-day simple moving average of $25.53. The company has a quick ratio of 0.82, a current ratio of 0.82 and a debt-to-equity ratio of 0.22.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, January 28th. The bank reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.52 by $0.01. First Busey had a net margin of 16.94% and a return on equity of 8.94%. On average, equities analysts anticipate that First Busey will post 2.07 EPS for the current fiscal year.

Institutional Trading of First Busey

Several hedge funds have recently made changes to their positions in BUSE. Sei Investments Co. raised its holdings in First Busey by 21.3% in the second quarter. Sei Investments Co. now owns 113,148 shares of the bank’s stock valued at $2,739,000 after acquiring an additional 19,831 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in First Busey by 9.3% in the second quarter. The Manufacturers Life Insurance Company now owns 30,171 shares of the bank’s stock valued at $730,000 after acquiring an additional 2,579 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its holdings in First Busey by 397.0% in the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,660 shares of the bank’s stock valued at $258,000 after acquiring an additional 8,515 shares in the last quarter. Sanctuary Advisors LLC acquired a new stake in First Busey in the second quarter valued at approximately $352,000. Finally, SG Americas Securities LLC acquired a new stake in First Busey in the third quarter valued at approximately $540,000. 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.