Analysts forecast that First Busey Co. (NASDAQ:BUSE) will post $0.55 earnings per share for the current fiscal quarter, Zacks reports. Five analysts have made estimates for First Busey’s earnings, with the lowest EPS estimate coming in at $0.54 and the highest estimate coming in at $0.59. First Busey posted earnings per share of $0.41 during the same quarter last year, which indicates a positive year over year growth rate of 34.1%. The firm is expected to report its next earnings results on Tuesday, January 29th.
According to Zacks, analysts expect that First Busey will report full-year earnings of $2.13 per share for the current year, with EPS estimates ranging from $2.11 to $2.18. For the next fiscal year, analysts forecast that the firm will post earnings of $2.35 per share, with EPS estimates ranging from $2.26 to $2.42. Zacks’ earnings per share calculations are a mean average based on a survey of analysts that follow First Busey.
First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.55 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.55. The firm had revenue of $82.63 million during the quarter, compared to the consensus estimate of $85.16 million. First Busey had a return on equity of 10.36% and a net margin of 23.02%.
A number of brokerages recently issued reports on BUSE. Piper Jaffray Companies set a $31.00 price objective on First Busey and gave the stock a “hold” rating in a research report on Wednesday. Zacks Investment Research downgraded First Busey from a “buy” rating to a “hold” rating in a research report on Tuesday. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a research report on Tuesday. ValuEngine downgraded First Busey from a “hold” rating to a “sell” rating in a research report on Friday, October 19th. Finally, 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. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. First Busey currently has a consensus rating of “Hold” and a consensus target price of $32.67.
Shares of NASDAQ:BUSE traded up $0.15 during midday trading on Friday, reaching $28.04. 4,524 shares of the company’s stock were exchanged, compared to its average volume of 111,569. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.38 billion, a price-to-earnings ratio of 17.40, a PEG ratio of 2.21 and a beta of 0.97. First Busey has a fifty-two week low of $26.61 and a fifty-two week high of $33.25.
The company also recently announced a quarterly dividend, which was paid on Friday, October 26th. Shareholders of record on Friday, October 19th were given a $0.20 dividend. This represents a $0.80 annualized dividend and a yield of 2.85%. The ex-dividend date of this dividend was Thursday, October 18th. First Busey’s dividend payout ratio is currently 49.69%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BUSE. Virginia Retirement Systems ET AL acquired a new position in First Busey in the 2nd quarter valued at about $209,000. Meeder Asset Management Inc. grew its position in First Busey by 131.1% in the 3rd quarter. Meeder Asset Management Inc. now owns 8,068 shares of the bank’s stock valued at $251,000 after acquiring an additional 4,577 shares in the last quarter. Quantitative Systematic Strategies LLC grew its position in First Busey by 35.4% in the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock valued at $333,000 after acquiring an additional 2,747 shares in the last quarter. Xact Kapitalforvaltning AB grew its position in First Busey by 67.5% in the 1st quarter. Xact Kapitalforvaltning AB now owns 13,395 shares of the bank’s stock valued at $398,000 after acquiring an additional 5,400 shares in the last quarter. Finally, Emerald Investment Partners LLC grew its position in First Busey by 44.9% in the 2nd quarter. Emerald Investment Partners LLC now owns 13,474 shares of the bank’s stock valued at $427,000 after acquiring an additional 4,178 shares in the last quarter. 51.71% of the stock is owned by institutional investors.
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.
Further Reading: What is the yield curve?
Get a free copy of the Zacks research report on First Busey (BUSE)
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for First Busey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Busey and related companies with MarketBeat.com's FREE daily email newsletter.