Equities research analysts expect First Busey Co. (NASDAQ:BUSE) to report $83.43 million in sales for the current fiscal quarter, according to Zacks. Four analysts have made estimates for First Busey’s earnings, with the lowest sales estimate coming in at $80.80 million and the highest estimate coming in at $85.18 million. First Busey posted sales of $62.03 million during the same quarter last year, which suggests a positive year over year growth rate of 34.5%. The business is expected to report its next earnings report on Tuesday, April 24th.
On average, analysts expect that First Busey will report full-year sales of $83.43 million for the current fiscal year, with estimates ranging from $329.90 million to $347.02 million. For the next year, analysts forecast that the firm will report sales of $360.05 million per share, with estimates ranging from $357.80 million to $362.27 million. Zacks’ sales calculations are a mean average based on a survey of research analysts that cover First Busey.
First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, January 30th. The bank reported $0.41 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $86.61 million for the quarter, compared to analysts’ expectations of $82.39 million. First Busey had a return on equity of 10.75% and a net margin of 20.31%.
Several analysts have weighed in on BUSE shares. Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 target price on shares of First Busey in a research report on Thursday, October 26th. BidaskClub downgraded shares of First Busey from a “hold” rating to a “sell” rating in a research report on Saturday, December 30th. ValuEngine downgraded shares of First Busey from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. FBR & Co reissued a “neutral” rating and set a $34.00 target price (up previously from $32.00) on shares of First Busey in a research report on Wednesday, October 25th. Finally, Piper Jaffray Companies reissued a “hold” rating and set a $33.00 target price on shares of First Busey in a research report on Tuesday, January 9th. One research analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. First Busey currently has an average rating of “Hold” and a consensus target price of $33.25.
A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Legal & General Group Plc lifted its stake in First Busey by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 7,995 shares of the bank’s stock valued at $235,000 after acquiring an additional 639 shares during the period. The Manufacturers Life Insurance Company lifted its stake in First Busey by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,480 shares of the bank’s stock valued at $718,000 after acquiring an additional 787 shares during the period. Nordea Investment Management AB lifted its stake in First Busey by 0.8% during the 2nd quarter. Nordea Investment Management AB now owns 181,466 shares of the bank’s stock valued at $5,321,000 after acquiring an additional 1,500 shares during the period. Schwab Charles Investment Management Inc. lifted its stake in First Busey by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 155,566 shares of the bank’s stock valued at $4,562,000 after acquiring an additional 1,661 shares during the period. Finally, Citigroup Inc. lifted its stake in First Busey by 45.5% during the 2nd quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock valued at $188,000 after acquiring an additional 2,009 shares during the period. Institutional investors and hedge funds own 46.19% of the company’s stock.
First Busey (NASDAQ BUSE) traded up $0.33 during trading hours on Friday, reaching $31.31. 167,729 shares of the company’s stock traded hands, compared to its average volume of 149,147. The stock has a market cap of $1,520.00, a P/E ratio of 21.16, a PEG ratio of 2.34 and a beta of 0.99. First Busey has a 12 month low of $27.33 and a 12 month high of $32.88. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.93.
The business also recently announced a quarterly dividend, which will be paid on Friday, February 2nd. Shareholders of record on Friday, January 26th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 2.56%. The ex-dividend date of this dividend is Thursday, January 25th. This is an increase from First Busey’s previous quarterly dividend of $0.18. First Busey’s payout ratio is currently 54.05%.
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First Busey Company Profile
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.
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