First Busey Co. (NASDAQ:BUSE) Expected to Announce Earnings of $0.55 Per Share


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Equities research analysts forecast that First Busey Co. (NASDAQ:BUSE) will announce $0.55 earnings per share (EPS) for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for First Busey’s earnings. The lowest EPS estimate is $0.46 and the highest is $0.59. First Busey reported earnings per share of $0.57 during the same quarter last year, which would suggest a negative year-over-year growth rate of 3.5%. The firm is scheduled to announce its next earnings results on Tuesday, January 26th.

On average, analysts expect that First Busey will report full year earnings of $1.88 per share for the current fiscal year, with EPS estimates ranging from $1.83 to $1.93. For the next year, analysts anticipate that the company will post earnings of $1.85 per share, with EPS estimates ranging from $1.72 to $2.02. Zacks’ earnings per share averages are an average based on a survey of analysts that follow First Busey.

First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Sunday, November 1st. The bank reported $0.56 earnings per share for the quarter, beating the consensus estimate of $0.41 by $0.15. First Busey had a return on equity of 8.62% and a net margin of 22.18%. The business had revenue of $102.04 million for the quarter, compared to analysts’ expectations of $99.48 million.

BUSE has been the subject of several research analyst reports. TheStreet upgraded First Busey from a “c+” rating to a “b-” rating in a report on Friday, November 13th. Zacks Investment Research cut First Busey from a “strong-buy” rating to a “hold” rating in a report on Tuesday, December 29th. Finally, B. Riley raised their price target on First Busey from $24.00 to $26.00 and gave the company a “neutral” rating in a report on Thursday, January 7th. Four analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. First Busey presently has an average rating of “Hold” and a consensus target price of $26.33.

Shares of NASDAQ:BUSE traded up $0.24 during trading on Monday, hitting $23.45. 338 shares of the company’s stock were exchanged, compared to its average volume of 169,184. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.86 and a quick ratio of 0.85. First Busey has a 52-week low of $11.00 and a 52-week high of $27.76. The business’s 50-day simple moving average is $21.60 and its 200 day simple moving average is $18.75. The company has a market cap of $1.28 billion, a price-to-earnings ratio of 12.68 and a beta of 1.13.

The company also recently announced a quarterly dividend, which will be paid on Friday, January 29th. Shareholders of record on Friday, January 22nd will be given a dividend of $0.23 per share. The ex-dividend date of this dividend is Thursday, January 21st. This is a positive change from First Busey’s previous quarterly dividend of $0.22. This represents a $0.92 dividend on an annualized basis and a yield of 3.92%. First Busey’s payout ratio is 40.93%.

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Fifth Third Bancorp raised its holdings in First Busey by 702.1% in the 3rd quarter. Fifth Third Bancorp now owns 3,000 shares of the bank’s stock valued at $48,000 after acquiring an additional 2,626 shares during the last quarter. Bank of Montreal Can raised its stake in First Busey by 61.5% during the second quarter. Bank of Montreal Can now owns 8,064 shares of the bank’s stock worth $131,000 after acquiring an additional 3,070 shares during the period. BNP Paribas Arbitrage SA raised its stake in First Busey by 456.8% during the third quarter. BNP Paribas Arbitrage SA now owns 11,894 shares of the bank’s stock worth $189,000 after acquiring an additional 9,758 shares during the period. Blair William & Co. IL acquired a new stake in First Busey during the third quarter worth about $217,000. Finally, Bowling Portfolio Management LLC acquired a new stake in First Busey during the third quarter worth about $233,000. 46.14% of the stock is owned by hedge funds and other 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.

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Earnings History and Estimates for First Busey (NASDAQ:BUSE)

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