Equities analysts expect First Busey Co. (NASDAQ:BUSE) to post $0.52 earnings per share (EPS) for the current fiscal quarter, Zacks reports. Five analysts have provided estimates for First Busey’s earnings, with estimates ranging from $0.51 to $0.53. First Busey reported earnings per share of $0.55 in the same quarter last year, which would suggest a negative year over year growth rate of 5.5%. The company is expected to report its next quarterly earnings report on Tuesday, October 22nd.
On average, analysts expect that First Busey will report full year earnings of $2.07 per share for the current financial year, with EPS estimates ranging from $2.06 to $2.08. For the next year, analysts anticipate that the firm will report earnings of $2.18 per share, with EPS estimates ranging from $2.15 to $2.21. Zacks’ earnings per share calculations are a mean average based on a survey of sell-side research firms that that provide coverage for First Busey.
First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, July 23rd. The bank reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.52 by $0.01. The company had revenue of $101.32 million during the quarter, compared to analyst estimates of $102.67 million. First Busey had a net margin of 24.14% and a return on equity of 10.01%.
Several analysts recently issued reports on BUSE shares. BidaskClub raised shares of First Busey from a “sell” rating to a “hold” rating in a research report on Saturday, September 14th. ValuEngine raised shares of First Busey from a “sell” rating to a “hold” rating in a report on Thursday, August 1st. Zacks Investment Research raised shares of First Busey from a “sell” rating to a “hold” rating in a report on Wednesday, July 24th. B. Riley downgraded shares of First Busey from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $30.00 to $28.00 in a report on Wednesday, August 21st. Finally, Stephens downgraded shares of First Busey from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $30.00 to $29.00 in a report on Tuesday, July 9th. Six research analysts have rated the stock with a hold rating, The company currently has an average rating of “Hold” and a consensus target price of $29.25.
Shares of NASDAQ:BUSE traded up $0.21 during mid-day trading on Thursday, hitting $26.37. The company had a trading volume of 6,832 shares, compared to its average volume of 139,308. The firm has a fifty day moving average price of $25.18 and a 200 day moving average price of $25.61. The company has a market capitalization of $1.46 billion, a PE ratio of 12.64, a price-to-earnings-growth ratio of 2.13 and a beta of 1.02. The company has a debt-to-equity ratio of 0.22, a current ratio of 0.86 and a quick ratio of 0.86. First Busey has a one year low of $23.13 and a one year high of $31.40.
In related news, Director David J. Downey purchased 7,500 shares of the firm’s stock in a transaction dated Tuesday, August 27th. The shares were purchased at an average cost of $24.06 per share, for a total transaction of $180,450.00. Following the completion of the transaction, the director now directly owns 189,949 shares in the company, valued at approximately $4,570,172.94. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 7.50% of the company’s stock.
Institutional investors and hedge funds have recently made changes to their positions in the company. US Bancorp DE increased its position in shares of First Busey by 5.8% in the second quarter. US Bancorp DE now owns 12,573 shares of the bank’s stock worth $332,000 after purchasing an additional 689 shares during the last quarter. Strs Ohio increased its position in shares of First Busey by 7.6% in the second quarter. Strs Ohio now owns 9,900 shares of the bank’s stock worth $261,000 after purchasing an additional 700 shares during the last quarter. Meeder Asset Management Inc. increased its position in shares of First Busey by 12.2% in the second quarter. Meeder Asset Management Inc. now owns 9,756 shares of the bank’s stock worth $258,000 after purchasing an additional 1,062 shares during the last quarter. Parametric Portfolio Associates LLC increased its position in shares of First Busey by 1.1% in the second quarter. Parametric Portfolio Associates LLC now owns 125,020 shares of the bank’s stock worth $3,302,000 after purchasing an additional 1,312 shares during the last quarter. Finally, Tower Research Capital LLC TRC purchased a new stake in First Busey in the second quarter worth approximately $43,000. Hedge funds and other institutional investors own 48.65% of the company’s stock.
First Busey Company Profile
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
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