First Busey Co. (NASDAQ:BUSE) – Equities researchers at Piper Jaffray Companies issued their Q1 2019 earnings per share (EPS) estimates for shares of First Busey in a report issued on Tuesday, October 30th. Piper Jaffray Companies analyst N. Race expects that the bank will earn $0.54 per share for the quarter. Piper Jaffray Companies currently has a “Hold” rating and a $31.00 price objective on the stock. Piper Jaffray Companies also issued estimates for First Busey’s Q2 2019 earnings at $0.58 EPS, Q3 2019 earnings at $0.60 EPS, Q4 2019 earnings at $0.61 EPS, FY2019 earnings at $2.33 EPS and FY2020 earnings at $2.51 EPS.
First Busey (NASDAQ:BUSE) last announced its earnings results on Tuesday, October 23rd. The bank reported $0.55 earnings per share (EPS) for the quarter, meeting the Zacks’ consensus estimate of $0.55. First Busey had a return on equity of 10.36% and a net margin of 23.02%. The company had revenue of $82.63 million for the quarter, compared to analyst estimates of $85.16 million.
Other equities analysts have also issued reports about the company. BidaskClub raised First Busey from a “hold” rating to a “buy” rating in a research report on Friday, July 6th. Zacks Investment Research raised First Busey from a “sell” rating to a “hold” rating in a research report on Tuesday, July 31st. B. Riley set a $36.00 target price on First Busey and gave the company a “buy” rating in a research report on Monday, October 15th. Finally, FIG Partners reaffirmed an “outperform” rating on shares of First Busey in a research report on Wednesday, July 25th. One analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and an average target price of $32.67.
Shares of BUSE traded down $0.01 during trading on Friday, reaching $27.88. The company’s stock had a trading volume of 1,804 shares, compared to its average volume of 111,569. First Busey has a twelve month low of $26.61 and a twelve month high of $33.25. The firm has a market cap of $1.38 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.21 and a beta of 0.97. The company has a quick ratio of 0.87, a current ratio of 0.88 and a debt-to-equity ratio of 0.24.
The company also recently declared a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, October 19th were given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.87%. The ex-dividend date of this dividend was Thursday, October 18th. First Busey’s dividend payout ratio is currently 49.69%.
Several hedge funds have recently bought and sold shares of BUSE. Deprince Race & Zollo Inc. raised its position in shares of First Busey by 401.9% during the 3rd quarter. Deprince Race & Zollo Inc. now owns 940,676 shares of the bank’s stock valued at $29,208,000 after acquiring an additional 753,254 shares in the last quarter. BlackRock Inc. grew its stake in First Busey by 10.5% during the 2nd quarter. BlackRock Inc. now owns 2,812,785 shares of the bank’s stock worth $89,220,000 after buying an additional 268,011 shares during the last quarter. Russell Investments Group Ltd. grew its stake in First Busey by 385.1% during the 3rd quarter. Russell Investments Group Ltd. now owns 316,572 shares of the bank’s stock worth $9,828,000 after buying an additional 251,308 shares during the last quarter. Millennium Management LLC grew its stake in First Busey by 84.9% during the 1st quarter. Millennium Management LLC now owns 492,388 shares of the bank’s stock worth $14,634,000 after buying an additional 226,143 shares during the last quarter. Finally, Cornerstone Wealth Management LLC bought a new position in First Busey during the 2nd quarter worth $4,237,000. 51.71% of the stock is currently owned by institutional investors and hedge funds.
First Busey Company Profile
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 in three segments: Banking, Remittance Processing, and Wealth Management.
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