First Busey (NASDAQ:BUSE) Given New $25.00 Price Target at DA Davidson

First Busey (NASDAQ:BUSE) had its price target cut by DA Davidson from $28.00 to $25.00 in a research report sent to investors on Thursday,Benzinga reports. They currently have a neutral rating on the bank’s stock.

A number of other research firms have also issued reports on BUSE. Keefe, Bruyette & Woods reissued 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. Piper Sandler reduced their price objective on First Busey from $32.00 to $28.00 and set an “overweight” rating for the company in a research note on Thursday. Finally, Stephens reaffirmed an “equal weight” rating and set a $29.00 target price on shares of First Busey in a report on Wednesday. Three equities research analysts have rated the stock with a hold rating and two have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $28.75.

First Busey Trading Up 2.1 %

NASDAQ:BUSE opened at $24.40 on Thursday. The company has a market capitalization of $1.39 billion, a P/E ratio of 12.39 and a beta of 0.88. The company has a current ratio of 0.82, a quick ratio of 0.82 and a debt-to-equity ratio of 0.22. First Busey has a 12 month low of $21.59 and a 12 month high of $28.97. The firm has a fifty day simple moving average of $24.59 and a 200-day simple moving average of $25.52.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, January 28th. The bank reported $0.53 EPS for the quarter, topping analysts’ consensus estimates of $0.52 by $0.01. First Busey had a return on equity of 8.94% and a net margin of 17.14%. On average, equities research analysts anticipate that First Busey will post 2.48 earnings per share for the current year.

First Busey Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be paid a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 4.10%. The ex-dividend date of this dividend is Friday, January 24th. This is a positive change from First Busey’s previous quarterly dividend of $0.24. First Busey’s payout ratio is currently 50.76%.

Institutional Trading of First Busey

Several institutional investors have recently bought and sold shares of the business. R Squared Ltd purchased a new position in shares of First Busey during the 4th quarter valued at approximately $35,000. Huntington National Bank acquired a new position in shares of First Busey during the third quarter valued at approximately $38,000. CarsonAllaria Wealth Management Ltd. purchased a new position in shares of First Busey in the third quarter valued at approximately $43,000. Point72 DIFC Ltd acquired a new stake in shares of First Busey in the third quarter worth approximately $171,000. Finally, Intech Investment Management LLC purchased a new position in First Busey in the 3rd quarter valued at $224,000. 56.49% 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 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.