First Busey

BUSE · NASDAQ

$29.90+$0.56 (+1.91%)TodayMarket closed · Oct 20, 7:30 PM ET

Prev close $29.34

BUSE analyst rating

HoldConsensus of 5 analysts over the last 12 months. 40% rate it a buy.

Strong buy0
Buy2
Hold3
Underperform0
Sell0

12-month price target · 9 analysts

Average $32.93 (+10.1% upside)

Low: $26.26
Now: $29.90
High: $36.75

Upgrades and downgrades

The latest rating actions, newest first

BUSE analyst upgrades, downgrades and rating actions
Firm	Date	Action	Rating	Price target	Hit rate
Piper Sandler	Oct 2, 2026	Downgrade	Overweight → Neutral	$35.00 → $30.00	72%
Keefe, Bruyette & Woods	Jul 31, 2026	Maintains	Outperform	$32.00 → $34.00	64%
Piper Sandler	Jul 30, 2026	Maintains	Overweight	$32.00 → $35.00	72%
DA Davidson	Jul 30, 2026	Maintains	Neutral	$30.00 → $31.00	50%
Raymond James	Jul 1, 2026	Maintains	Outperform	$28.00 → $32.00	54%
Piper Sandler	Jun 26, 2026	Maintains	Overweight	$30.00 → $32.00	72%
Piper Sandler	Apr 30, 2026	Maintains	Overweight	$29.00 → $30.00	72%
Stephens & Co.	Apr 30, 2026	Maintains	Equal-Weight	$27.00 → $28.00	73%
Stephens & Co.	Mar 27, 2026	Initiates	Equal-Weight	$27.00	73%
Piper Sandler	Jan 30, 2026	Maintains	Overweight	$26.00 → $29.00	72%

The case for and against

Updated Oct 14, 2026

Bull case

First Busey is positioned favorably because 1Q26 operating EPS of $0.67 beat consensus, while net interest margin expanded 6 bps to 3.77% and the efficiency ratio improved to 57%, showing strong core profitability and cost discipline. Its balance sheet also appears resilient, with deposits funding growth, a loan-to-deposit ratio kept in the high-80% to 90% range, net charge-offs at 22 bps, and nonperforming loans falling to 0.35% of loans. Management’s focus on wealth management, treasury management, and fixed-rate repricing should support mid-single-digit fee growth, rising net interest income, and continued buybacks as capital remains abundant.

Bear case

First Busey is facing a weak fundamental setup because loan balances and deposits both fell 1% quarter over quarter, with average total deposits down 3% and core deposits pressured by lower noninterest-bearing balances. Credit trends are also softening, as substandard loans rose to $166.4 million, or 1.24% of loans, which raises the risk of higher provision expense and weaker earnings if asset quality deteriorates further. Although capital remains solid at 12.3% CET1 and 15.9% TRBC, the business still faces interest-rate sensitivity, acquisition execution risk, and regulatory pressure that could limit profitability and tangible book value growth.

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