First Busey Co. (NASDAQ:BUSE) Expected to Earn Q2 2024 Earnings of $0.46 Per Share

First Busey Co. (NASDAQ:BUSE) – Research analysts at DA Davidson issued their Q2 2024 earnings per share (EPS) estimates for shares of First Busey in a note issued to investors on Thursday, April 25th. DA Davidson analyst J. Rulis expects that the bank will earn $0.46 per share for the quarter. The consensus estimate for First Busey’s current full-year earnings is $2.14 per share.

Several other analysts also recently weighed in on BUSE. Stephens restated an “overweight” rating and set a $28.00 target price on shares of First Busey in a research note on Wednesday. StockNews.com cut First Busey from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the stock. According to data from MarketBeat, First Busey presently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

First Busey Price Performance

Shares of NASDAQ:BUSE opened at $22.80 on Friday. The business has a 50 day moving average price of $23.05 and a 200 day moving average price of $22.64. First Busey has a twelve month low of $16.26 and a twelve month high of $25.80. The company has a market cap of $1.26 billion, a price-to-earnings ratio of 11.52 and a beta of 0.85. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.25.

First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, January 23rd. The bank reported $0.52 earnings per share for the quarter, beating the consensus estimate of $0.49 by $0.03. First Busey had a return on equity of 9.49% and a net margin of 18.08%. The firm had revenue of $108.65 million during the quarter, compared to the consensus estimate of $107.74 million.

First Busey Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, April 26th. Shareholders of record on Friday, April 19th were issued a $0.24 dividend. The ex-dividend date was Thursday, April 18th. This represents a $0.96 annualized dividend and a yield of 4.21%. First Busey’s dividend payout ratio (DPR) is 48.48%.

Insider Transactions at First Busey

In other news, Director Michael David Cassens sold 2,300 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $22.36, for a total value of $51,428.00. Following the completion of the transaction, the director now directly owns 139,804 shares of the company’s stock, valued at approximately $3,126,017.44. The sale was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Michael David Cassens sold 2,300 shares of the stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $22.36, for a total transaction of $51,428.00. Following the sale, the director now directly owns 139,804 shares in the company, valued at approximately $3,126,017.44. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Karen M. Jensen purchased 2,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were acquired at an average price of $22.98 per share, for a total transaction of $45,960.00. Following the completion of the transaction, the director now owns 47,585 shares in the company, valued at $1,093,503.30. The disclosure for this purchase can be found here. In the last ninety days, insiders purchased 4,817 shares of company stock valued at $114,780 and sold 6,900 shares valued at $157,182. 7.10% of the stock is currently owned by insiders.

Institutional Investors Weigh In On First Busey

Large investors have recently bought and sold shares of the business. Lindbrook Capital LLC grew its position in First Busey by 1,143.5% during the 4th quarter. Lindbrook Capital LLC now owns 1,057 shares of the bank’s stock worth $26,000 after acquiring an additional 972 shares during the last quarter. Everhart Financial Group Inc. bought a new position in First Busey in the 3rd quarter valued at $218,000. Sierra Summit Advisors LLC bought a new position in First Busey in the 4th quarter valued at $238,000. HighPoint Advisor Group LLC bought a new position in First Busey in the 4th quarter valued at $249,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its position in First Busey by 40.6% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 15,819 shares of the bank’s stock valued at $304,000 after buying an additional 4,566 shares during the last quarter. 56.49% of the stock is currently owned by institutional investors.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.