Wall Street analysts forecast that First Busey Co. (NASDAQ:BUSE – Get Rating) will report $106.35 million in sales for the current fiscal quarter, Zacks reports. Four analysts have provided estimates for First Busey’s earnings. The highest sales estimate is $107.26 million and the lowest is $104.55 million. First Busey posted sales of $97.55 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 9%. The firm is expected to issue its next earnings results on Monday, January 1st.
According to Zacks, analysts expect that First Busey will report full year sales of $430.11 million for the current year, with estimates ranging from $422.35 million to $434.19 million. For the next financial year, analysts forecast that the business will report sales of $458.93 million, with estimates ranging from $447.58 million to $469.82 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow First Busey.
First Busey (NASDAQ:BUSE – Get Rating) last released its quarterly earnings results on Tuesday, April 26th. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.51 by $0.01. First Busey had a return on equity of 9.83% and a net margin of 25.94%. The firm had revenue of $105.83 million for the quarter, compared to analysts’ expectations of $102.85 million. During the same quarter last year, the firm posted $0.69 EPS.
In related news, Director Stanley J. Bradshaw purchased 4,000 shares of First Busey stock in a transaction that occurred on Friday, April 29th. The shares were acquired at an average cost of $22.52 per share, for a total transaction of $90,080.00. Following the transaction, the director now directly owns 28,600 shares in the company, valued at $644,072. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 7.40% of the stock is owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. BlackRock Inc. grew its position in First Busey by 1.3% during the 3rd 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 last quarter. Dimensional Fund Advisors LP lifted its holdings in First Busey by 4.1% in the 1st quarter. Dimensional Fund Advisors LP now owns 2,684,215 shares of the bank’s stock worth $68,019,000 after buying an additional 104,955 shares during the period. State Street Corp lifted 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 worth $39,975,000 after buying an additional 34,576 shares during the period. Victory Capital Management Inc. lifted its holdings in First Busey by 8.1% in the 1st quarter. Victory Capital Management Inc. now owns 1,232,062 shares of the bank’s stock worth $29,980,000 after buying an additional 92,090 shares during the period. Finally, Geode Capital Management LLC lifted 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 worth $24,191,000 after buying an additional 18,265 shares during the period. Institutional investors and hedge funds own 48.65% of the company’s stock.
NASDAQ:BUSE opened at $22.07 on Monday. The business’s 50-day moving average price is $24.79 and its two-hundred day moving average price is $26.50. First Busey has a twelve month low of $21.00 and a twelve month high of $29.73. The stock has a market cap of $1.22 billion, a P/E ratio of 10.87 and a beta of 0.93. The company has a quick ratio of 0.72, a current ratio of 0.71 and a debt-to-equity ratio of 0.28.
The business also recently declared a quarterly dividend, which was paid on Friday, April 29th. Investors of record on Friday, April 22nd were given a dividend of $0.23 per share. The ex-dividend date was Thursday, April 21st. This represents a $0.92 annualized dividend and a yield of 4.17%. First Busey’s payout ratio is 45.32%.
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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