Analysts Anticipate First Busey Co. (NASDAQ:BUSE) to Announce $0.51 EPS

Equities analysts expect that First Busey Co. (NASDAQ:BUSEGet Rating) will report $0.51 earnings per share for the current quarter, Zacks reports. Four analysts have made estimates for First Busey’s earnings. The highest EPS estimate is $0.54 and the lowest is $0.49. First Busey posted earnings per share of $0.69 during the same quarter last year, which would suggest a negative year over year growth rate of 26.1%. The business is scheduled to report its next earnings results after the market closes on Monday, January 1st.

On average, analysts expect that First Busey will report full year earnings of $2.09 per share for the current fiscal year, with EPS estimates ranging from $1.95 to $2.20. For the next year, analysts anticipate that the company will report earnings of $2.33 per share, with EPS estimates ranging from $2.16 to $2.50. Zacks’ earnings per share calculations are an average based on a survey of sell-side research firms that cover First Busey.

First Busey (NASDAQ:BUSEGet Rating) last announced its quarterly earnings data on Tuesday, January 25th. The bank reported $0.61 EPS for the quarter, beating the Zacks’ consensus estimate of $0.55 by $0.06. First Busey had a return on equity of 10.42% and a net margin of 28.60%. The firm had revenue of $105.60 million during the quarter, compared to analysts’ expectations of $104.47 million. During the same quarter last year, the firm posted $0.62 earnings per share.

A number of equities research analysts have commented on BUSE shares. StockNews.com started coverage on First Busey in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $28.00 price objective for the company in a research note on Tuesday, April 5th. B. Riley cut their target price on First Busey from $30.00 to $27.00 in a research report on Tuesday, April 12th. Finally, Raymond James raised First Busey from a “market perform” rating to an “outperform” rating and set a $31.00 target price on the stock in a research report on Monday, January 31st.

Shares of First Busey stock opened at $23.82 on Friday. The company has a debt-to-equity ratio of 0.26, a quick ratio of 0.72 and a current ratio of 0.72. First Busey has a 52 week low of $21.00 and a 52 week high of $29.73. The stock has a 50 day moving average price of $26.13 and a two-hundred day moving average price of $26.79. The stock has a market capitalization of $1.32 billion, a PE ratio of 10.78 and a beta of 0.92.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Investors of record on Friday, April 22nd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, April 21st. This represents a $0.92 annualized dividend and a dividend yield of 3.86%. First Busey’s payout ratio is 41.63%.

Several large investors have recently made changes to their positions in BUSE. Invesco Ltd. lifted its holdings in First Busey by 4.8% during the third quarter. Invesco Ltd. now owns 81,485 shares of the bank’s stock worth $2,007,000 after acquiring an additional 3,752 shares during the period. BlackRock Inc. lifted its holdings in First Busey by 1.3% during the third quarter. BlackRock Inc. now owns 3,995,169 shares of the bank’s stock worth $98,401,000 after acquiring an additional 49,354 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in First Busey by 170.8% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 14,918 shares of the bank’s stock worth $405,000 after acquiring an additional 9,410 shares during the period. Goldman Sachs Group Inc. lifted its holdings in First Busey by 27.0% during the third quarter. Goldman Sachs Group Inc. now owns 103,937 shares of the bank’s stock worth $2,560,000 after acquiring an additional 22,115 shares during the period. Finally, Ledyard National Bank bought a new stake in shares of First Busey in the fourth quarter valued at $231,000. 45.62% of the stock is currently owned by institutional investors.

About First Busey (Get Rating)

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 through three segments: Banking, FirsTech, and Wealth Management.

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