Zacks: Analysts Anticipate First Busey Co. (NASDAQ:BUSE) Will Post Earnings of $0.55 Per Share

Equities analysts expect that First Busey Co. (NASDAQ:BUSEGet Rating) will announce earnings per share of $0.55 for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for First Busey’s earnings, with the highest EPS estimate coming in at $0.57 and the lowest estimate coming in at $0.54. First Busey posted earnings per share of $0.57 in the same quarter last year, which suggests a negative year-over-year growth rate of 3.5%. The company is scheduled to issue its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that First Busey will report full year earnings of $2.17 per share for the current year, with EPS estimates ranging from $2.05 to $2.27. For the next year, analysts anticipate that the business will post earnings of $2.38 per share, with EPS estimates ranging from $2.23 to $2.65. Zacks’ earnings per share calculations are a mean average based on a survey of research analysts that follow First Busey.

First Busey (NASDAQ:BUSEGet Rating) last released its quarterly earnings data on Tuesday, April 26th. The bank reported $0.52 earnings per share for the quarter, topping the consensus estimate of $0.51 by $0.01. First Busey had a return on equity of 9.62% and a net margin of 25.94%. The business had revenue of $105.83 million during the quarter, compared to analysts’ expectations of $102.85 million. During the same quarter last year, the business posted $0.69 EPS.

A number of research firms have recently commented on BUSE. Raymond James upgraded 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. StockNews.com began coverage on First Busey in a research note on Thursday, March 31st. They issued a “hold” rating for the company. Zacks Investment Research cut First Busey from a “buy” rating to a “hold” rating in a research note on Wednesday, May 4th. Finally, B. Riley lowered their target price on First Busey from $30.00 to $27.00 in a research note on Tuesday, April 12th.

NASDAQ BUSE opened at $21.98 on Friday. First Busey has a fifty-two week low of $21.00 and a fifty-two week high of $29.73. The company has a debt-to-equity ratio of 0.28, a quick ratio of 0.71 and a current ratio of 0.71. The stock has a 50 day simple moving average of $24.70 and a two-hundred day simple moving average of $26.48. The stock has a market cap of $1.22 billion, a P/E ratio of 10.83 and a beta of 0.93.

The business also recently disclosed a quarterly dividend, which was paid on Friday, April 29th. Shareholders of record on Friday, April 22nd were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 4.19%. The ex-dividend date was Thursday, April 21st. First Busey’s payout ratio is 45.32%.

In related news, Director Stanley J. Bradshaw acquired 4,000 shares of the stock in a transaction on Friday, April 29th. The stock was acquired at an average price of $22.52 per share, for a total transaction of $90,080.00. Following the completion of the purchase, the director now owns 28,600 shares of the company’s stock, valued at $644,072. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 7.40% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in BUSE. CWM LLC bought a new stake in shares of First Busey in the 4th quarter worth $44,000. Allworth Financial LP increased its holdings in shares of First Busey by 7,663.6% in the 1st quarter. Allworth Financial LP now owns 1,708 shares of the bank’s stock worth $43,000 after purchasing an additional 1,686 shares in the last quarter. Public Employees Retirement System of Ohio increased its holdings in shares of First Busey by 38.5% in the 4th quarter. Public Employees Retirement System of Ohio now owns 2,026 shares of the bank’s stock worth $55,000 after purchasing an additional 563 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its holdings in shares of First Busey by 65.0% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 2,193 shares of the bank’s stock worth $60,000 after purchasing an additional 864 shares in the last quarter. Finally, Acadian Asset Management LLC bought a new stake in shares of First Busey in the 1st quarter worth $176,000. Institutional investors and hedge funds own 48.65% of the company’s stock.

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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