Is First Busey Corp. overvalued or undervalued?

As of 7 November 2025, the valuation grade for First Busey Corp. moved from expensive to fair, indicating a shift in its perceived value. The company appears fairly valued based on its current metrics, with a P/E ratio of 36, a price to book value of 0.96, and an EV to EBITDA of 13.90. In comparison to peers, First Bancorp (North Carolina) has a P/E of 23.74 and is considered expensive, while First Commonwealth Financial Corp. (Pennsylvania) is also rated fair with a P/E of 15.48.
Despite the fair valuation, First Busey Corp. has a relatively high P/E ratio compared to its peers, suggesting that while it is not overvalued, it may not present a significant discount either. The company's recent stock performance against the S&P 500 is not available, but the valuation metrics suggest a stable position within its industry.