First Busey (NASDAQ:BUSE) Updates Q1 Earnings Guidance

First Busey (NASDAQ:BUSEGet Rating) issued an update on its first quarter earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of $0.52 for the period, compared to the Thomson Reuters consensus estimate of $0.52. The company issued revenue guidance of $111.90 million, compared to the consensus revenue estimate of $104.06 million.

Shares of BUSE traded down $0.96 during trading on Tuesday, reaching $22.79. The company’s stock had a trading volume of 329,087 shares, compared to its average volume of 169,649. The business’s fifty day moving average price is $26.05. First Busey has a twelve month low of $21.00 and a twelve month high of $29.73. The company has a market cap of $1.26 billion, a P/E ratio of 10.75 and a beta of 0.92. 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 (NASDAQ:BUSEGet Rating) last posted its quarterly earnings results on Tuesday, January 25th. The bank reported $0.61 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.06. The business had revenue of $105.60 million for the quarter, compared to analyst estimates of $104.47 million. First Busey had a return on equity of 10.42% and a net margin of 28.60%. During the same period in the prior year, the company posted $0.62 EPS. On average, analysts anticipate that First Busey will post 2.09 earnings per share for the current fiscal year.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 29th. Shareholders of record on Friday, April 22nd will be given a $0.23 dividend. This represents a $0.92 annualized dividend and a yield of 4.04%. The ex-dividend date of this dividend is Thursday, April 21st. First Busey’s dividend payout ratio is presently 41.63%.

Several research analysts have recently issued reports on the company. StockNews.com assumed 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 target price for the company in a research note on Tuesday, April 5th. Raymond James raised First Busey from a market perform rating to an outperform rating and set a $31.00 target price for the company in a research note on Monday, January 31st. Finally, B. Riley decreased their target price on First Busey from $30.00 to $27.00 in a research note on Tuesday, April 12th.

A number of institutional investors have recently made changes to their positions in the stock. Charles Schwab Investment Management Inc. increased its holdings in shares of First Busey by 8.5% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 469,376 shares of the bank’s stock valued at $12,730,000 after acquiring an additional 36,672 shares during the last quarter. State Street Corp grew its holdings in First Busey by 2.4% in the 4th quarter. State Street Corp now owns 1,474,016 shares of the bank’s stock valued at $39,975,000 after buying an additional 34,576 shares during the last quarter. Morgan Stanley grew its holdings in First Busey by 141.4% in the 2nd quarter. Morgan Stanley now owns 53,037 shares of the bank’s stock valued at $1,307,000 after buying an additional 31,069 shares during the last quarter. Geode Capital Management LLC grew its holdings in First Busey by 2.1% in the 4th quarter. Geode Capital Management LLC now owns 892,005 shares of the bank’s stock valued at $24,191,000 after buying an additional 18,265 shares during the last quarter. Finally, Sei Investments Co. grew its holdings in First Busey by 67.0% in the 4th quarter. Sei Investments Co. now owns 35,454 shares of the bank’s stock valued at $985,000 after buying an additional 14,219 shares during the last quarter. 45.62% of the stock is owned by hedge funds and other institutional investors.

First Busey Company Profile (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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Earnings History and Estimates for First Busey (NASDAQ:BUSE)

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