FY2024 Earnings Forecast for First Busey Co. Issued By DA Davidson (NASDAQ:BUSE)

First Busey Co. (NASDAQ:BUSE) – Analysts at DA Davidson lowered their FY2024 EPS estimates for First Busey in a report released on Thursday, April 25th. DA Davidson analyst J. Rulis now expects that the bank will post earnings of $2.40 per share for the year, down from their previous estimate of $2.45. The consensus estimate for First Busey’s current full-year earnings is $2.13 per share.

BUSE has been the topic of several other reports. StockNews.com lowered First Busey from a “hold” rating to a “sell” rating in a research report on Monday, April 22nd. Stephens restated an “overweight” rating and issued a $28.00 price objective on shares of First Busey in a research note on Wednesday, April 24th. One 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 has an average rating of “Moderate Buy” and an average price target of $25.75.

First Busey Trading Down 1.3 %

First Busey stock opened at $22.80 on Monday. The company has a debt-to-equity ratio of 0.25, a quick ratio of 0.79 and a current ratio of 0.79. The firm has a market cap of $1.26 billion, a price-to-earnings ratio of 11.52 and a beta of 0.85. First Busey has a 1 year low of $16.26 and a 1 year high of $25.80. The firm’s 50 day moving average price is $23.05 and its two-hundred day moving average price is $22.69.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Assenagon Asset Management S.A. lifted its position in First Busey by 30.3% during the 1st quarter. Assenagon Asset Management S.A. now owns 99,397 shares of the bank’s stock valued at $2,390,000 after purchasing an additional 23,142 shares during the period. Denali Advisors LLC increased its stake in shares of First Busey by 3,072.7% in the 1st quarter. Denali Advisors LLC now owns 34,900 shares of the bank’s stock valued at $839,000 after acquiring an additional 33,800 shares during the last quarter. HighPoint Advisor Group LLC bought a new stake in shares of First Busey in the 4th quarter valued at about $249,000. Wellington Management Group LLP increased its stake in First Busey by 3.8% during the 4th quarter. Wellington Management Group LLP now owns 1,552,667 shares of the bank’s stock worth $38,537,000 after purchasing an additional 57,392 shares in the last quarter. Finally, Teachers Retirement System of The State of Kentucky increased its stake in First Busey by 16.5% during the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 69,264 shares of the bank’s stock worth $1,719,000 after purchasing an additional 9,789 shares in the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

Insider Buying and Selling

In related news, Director Michael David Cassens sold 2,300 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.36, for a total transaction of $51,428.00. Following the transaction, the director now owns 139,804 shares of the company’s stock, valued at $3,126,017.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other First Busey news, Director Michael David Cassens sold 2,300 shares of the business’s stock in a transaction on Monday, April 15th. The shares were sold at an average price of $22.36, for a total value of $51,428.00. Following the sale, the director now 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 Securities & Exchange Commission, which is available at this link. Also, Director Karen M. Jensen bought 2,000 shares of the stock in a transaction dated Friday, March 1st. The stock was purchased at an average cost of $22.98 per share, for a total transaction of $45,960.00. Following the acquisition, the director now owns 47,585 shares in the company, valued at approximately $1,093,503.30. The disclosure for this purchase can be found here. Over the last quarter, insiders have purchased 2,317 shares of company stock valued at $53,780 and have sold 6,900 shares valued at $157,182. 7.10% of the stock is currently owned by insiders.

First Busey Dividend Announcement

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

First Busey Company Profile

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.