Raymond James Downgrades First Busey (BUSE) to Market Perform

Raymond James analyst Daniel Tamayo downgraded First Busey (NASDAQ: BUSE) from Outperform to Market Perform.

The analyst comments "We are downgrading shares of First Busey to Market Perform from Outperform following mixed 3Q results, including greater-than-expected NIM compression, continued loan contraction, and credit deterioration. We lowered our 2027 EPS estimate by 1.1%, reflecting slower loan growth, a tighter NIM, higher provisioning, and higher operating expenses. Our downgrade reflects limited near-term catalysts following strong YTD outperformance (BUSE +23.6% vs. BANK index +14.7%). We continue to view BUSE as a quality franchise with an attractive deposit base, solid fee businesses, and healthy profitability, though we believe these characteristics are adequately reflected in its premium P/E multiple. EPS miss. BUSE reported 3Q EPS of $0.61. Excluding non-core items, we place operating EPS at $0.63, below our estimate of $0.64 and consensus of $0.67, reflecting lower fees and a higher provision, partially offset by higher NII and lower operating expenses."

For an analyst ratings summary and ratings history on First Busey click here. For more ratings news on First Busey click here.

Shares of First Busey closed at $29.47 yesterday.

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