Notable Reporting: How Analysts Feel About First Busey Corporation After Achieving 52-Week High?

Notable Reporting: How Analysts Feel About First Busey Corporation After Achieving 52 Week High?

The stock of First Busey Corporation (NASDAQ:BUSE) hit a new 52-week high and has $30.59 target or 9.00% above today’s $28.06 share price. The 6 months bullish chart indicates low risk for the $1.09 billion company. The 1-year high was reported on Nov, 23 by Barchart.com. If the $30.59 price target is reached, the company will be worth $98.10 million more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 29,074 shares traded hands. First Busey Corporation (NASDAQ:BUSE) has risen 31.84% since April 21, 2016 and is uptrending. It has outperformed by 26.51% the S&P500.

Analysts await First Busey Corporation (NASDAQ:BUSE) to report earnings on January, 24. They expect $0.41 EPS, up 13.89% or $0.05 from last year’s $0.36 per share. BUSE’s profit will be $15.92M for 17.12 P/E if the $0.41 EPS becomes a reality. After $0.40 actual EPS reported by First Busey Corporation for the previous quarter, Wall Street now forecasts 2.50% EPS growth.

First Busey Corporation (NASDAQ:BUSE) Ratings Coverage

Out of 4 analysts covering First Busey Corp (NASDAQ:BUSE), 1 rate it a “Buy”, 0 “Sell”, while 3 “Hold”. This means 25% are positive. First Busey Corp has been the topic of 6 analyst reports since July 22, 2015 according to StockzIntelligence Inc. The rating was upgraded by Sandler O’Neill on Thursday, September 17 to “Buy”.

According to Zacks Investment Research, “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.”

More news for First Busey Corporation (NASDAQ:BUSE) were recently published by: Globenewswire.com, which released: “First Busey Corporation Finalizes Acquisition of Pulaski Financial Corp. and …” on May 02, 2016. Globenewswire.com‘s article titled: “First Busey Corporation and Pulaski Financial Corp. Announce Shareholder …” and published on March 30, 2016 is yet another important article.

BUSE Company Profile

First Busey Corporation (First Busey), incorporated on June 14, 1993, is a financial holding company. The Firm offers a range of financial services through its banking and non-banking subsidiaries at multiple locations in Illinois, Florida, Indiana and Missouri. First Busey has a bank subsidiary, Busey Bank (the Bank), which is an Illinois state-chartered bank, with activities in approximately 30 locations in Illinois, approximately seven in southwest Florida and one in Indianapolis, Indiana. The Firm operates through three divisions: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate clients through its branch network in downstate Illinois, through its branch in Indianapolis, Indiana, and through its branch network in southwest Florida. The Remittance Processing segment provides for online bill payments, lockbox and walk-in payments. The Wealth Management segment provides a range of asset management, investment and fiduciary services to individuals, businesses and foundations, tax preparation, philanthropic advisory services, and farm and brokerage services.

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