First Busey (NASDAQ:BUSE) Sets New 52-Week Low – Here’s Why

First Busey Co. (NASDAQ:BUSE) reached a new 52-week low during mid-day trading on Monday . The stock traded as low as $21.59 and last traded at $21.95, with a volume of 15563 shares trading hands. The stock had previously closed at $21.92.

Analyst Ratings Changes

A number of brokerages have commented on BUSE. Keefe, Bruyette & Woods boosted their price target on shares of First Busey from $32.00 to $34.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th. Stephens cut shares of First Busey from an “overweight” rating to an “equal weight” rating and reduced their price objective for the company from $28.00 to $27.00 in a report on Monday, October 14th.

First Busey Stock Up 2.6 %

The stock has a fifty day moving average price of $25.45 and a two-hundred day moving average price of $25.63. The company has a market cap of $1.28 billion, a P/E ratio of 11.62 and a beta of 0.88. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.82 and a quick ratio of 0.82.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.58 earnings per share for the quarter, beating the consensus estimate of $0.54 by $0.04. The business had revenue of $170.45 million for the quarter, compared to analysts’ expectations of $118.32 million. First Busey had a return on equity of 8.94% and a net margin of 16.94%. During the same period last year, the business earned $0.55 EPS. On average, research analysts expect that First Busey Co. will post 2.07 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently made changes to their positions in the company. Huntington National Bank purchased a new stake in First Busey in the 3rd quarter valued at about $38,000. CarsonAllaria Wealth Management Ltd. bought a new position in shares of First Busey in the third quarter valued at approximately $43,000. Point72 DIFC Ltd purchased a new stake in shares of First Busey during the third quarter valued at approximately $171,000. Intech Investment Management LLC purchased a new stake in shares of First Busey during the third quarter valued at approximately $224,000. Finally, Northwestern Mutual Wealth Management Co. lifted its holdings in First Busey by 397.0% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 10,660 shares of the bank’s stock worth $258,000 after acquiring an additional 8,515 shares during the period. 56.49% of the stock is owned by institutional investors.

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.