Microvast Holdings announces departure of chief financial officer
In a challenging economic climate, First Busey Corporation (NASDAQ:BUSE) stock has recorded a new 52-week low, dipping to $21.63. According to InvestingPro analysis, the stock's RSI indicates oversold territory, while trading at an attractive P/E ratio of 11.06 and below book value with a Price/Book ratio of 0.89. This latest price movement reflects a broader trend for the company, which has seen a 1-year change showing a decline of 7.43%. Despite market challenges, the company maintains a solid 4.38% dividend yield and has consistently paid dividends for 36 consecutive years. Investors are closely monitoring these developments as the company navigates through market headwinds, with the 52-week low marking a significant point of interest in its stock performance trajectory. InvestingPro analysis suggests the stock is currently trading below its Fair Value, with additional insights available for subscribers.
In other recent news, First Busey Corporation reported favorable earnings results, primarily attributed to clean credit. This financial performance was coupled with the declaration of a quarterly cash dividend of $0.24 per share. Additionally, the company announced a merger with CrossFirst Bankshares (NASDAQ:CFB), expected to add substantially to its portfolio. DA Davidson analysts adjusted their stock price target for First Busey to $26, maintaining a neutral rating. They anticipate First Busey's growth will pick up in 2025, with fee income diversity contributing positively. However, they revised their EPS estimate for 2025 downward due to lower loan balances at the start of the year. In contrast, Stephens downgraded First Busey's stock from Overweight to Equal Weight and lowered the price target to $27. Piper Sandler maintained an Overweight rating on First Busey shares. These recent developments reflect First Busey Corporation's strategic growth and commitment to shareholder value.
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