Analysts Expect First Busey Corporation (BUSE) Will Post Quarterly Sales of $76.94 Million

Wall Street brokerages predict that First Busey Corporation (NASDAQ:BUSE) will announce sales of $76.94 million for the current fiscal quarter, according to Zacks Investment Research. Four analysts have made estimates for First Busey Corporation’s earnings. The lowest sales estimate is $75.73 million and the highest is $79.10 million. First Busey Corporation posted sales of $64.88 million during the same quarter last year, which suggests a positive year-over-year growth rate of 18.6%. The company is expected to report its next quarterly earnings report after the market closes on Tuesday, October 24th.

On average, analysts expect that First Busey Corporation will report full year sales of $76.94 million for the current financial year, with estimates ranging from $281.44 million to $290.90 million. For the next financial year, analysts forecast that the company will report sales of $345.21 million per share, with estimates ranging from $339.10 million to $352.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for First Busey Corporation.

First Busey Corporation (NASDAQ:BUSE) last announced its earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. First Busey Corporation had a net margin of 22.04% and a return on equity of 10.59%. The business had revenue of $62.43 million during the quarter, compared to the consensus estimate of $63.40 million.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of First Busey Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub lowered shares of First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies set a $32.00 target price on shares of First Busey Corporation and gave the company a “hold” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.50.

Shares of First Busey Corporation (BUSE) traded up 0.60% during midday trading on Tuesday, hitting $31.98. 30,982 shares of the stock traded hands. The firm has a 50-day moving average price of $29.61 and a 200 day moving average price of $29.39. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 21.15 and a beta of 1.01. First Busey Corporation has a one year low of $21.83 and a one year high of $32.22.

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In other First Busey Corporation news, insider Curt A. Anderson sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $29.40, for a total transaction of $41,160.00. Following the sale, the insider now directly owns 43,482 shares in the company, valued at approximately $1,278,370.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of First Busey Corporation by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 2,601,325 shares of the bank’s stock worth $76,479,000 after buying an additional 8,500 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Busey Corporation by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,688 shares of the bank’s stock worth $52,328,000 after buying an additional 86,789 shares in the last quarter. Vanguard Group Inc. raised its position in shares of First Busey Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,476,846 shares of the bank’s stock worth $43,301,000 after buying an additional 19,354 shares in the last quarter. Northern Trust Corp raised its position in shares of First Busey Corporation by 3.8% during the 2nd quarter. Northern Trust Corp now owns 712,793 shares of the bank’s stock worth $20,899,000 after buying an additional 26,024 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of First Busey Corporation by 40.5% during the 1st quarter. Nuveen Asset Management LLC now owns 650,565 shares of the bank’s stock worth $19,127,000 after buying an additional 187,551 shares in the last quarter. Institutional investors own 45.83% of the company’s stock.

About First Busey Corporation

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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On average, analysts expect that First Busey Corporation will report full year sales of $76.94 million for the current financial year, with estimates ranging from $281.44 million to $290.90 million. For the next financial year, analysts forecast that the company will report sales of $345.21 million per share, with estimates ranging from $339.10 million to $352.40 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for First Busey Corporation.

First Busey Corporation (NASDAQ:BUSE) last announced its earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share for the quarter, topping the consensus estimate of $0.42 by $0.01. First Busey Corporation had a net margin of 22.04% and a return on equity of 10.59%. The business had revenue of $62.43 million during the quarter, compared to the consensus estimate of $63.40 million.

A number of research analysts have issued reports on the stock. Zacks Investment Research lowered shares of First Busey Corporation from a “buy” rating to a “hold” rating in a research note on Tuesday, October 3rd. BidaskClub lowered shares of First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Finally, Piper Jaffray Companies set a $32.00 target price on shares of First Busey Corporation and gave the company a “hold” rating in a research note on Tuesday, July 25th. One analyst has rated the stock with a sell rating, four have assigned a hold rating and one has assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and an average target price of $32.50.

Shares of First Busey Corporation (BUSE) traded up 0.60% during midday trading on Tuesday, hitting $31.98. 30,982 shares of the stock traded hands. The firm has a 50-day moving average price of $29.61 and a 200 day moving average price of $29.39. The stock has a market cap of $1.45 billion, a price-to-earnings ratio of 21.15 and a beta of 1.01. First Busey Corporation has a one year low of $21.83 and a one year high of $32.22.

COPYRIGHT VIOLATION NOTICE: This news story was published by The Ledger Gazette and is the sole property of of The Ledger Gazette. If you are reading this news story on another domain, it was illegally copied and reposted in violation of US and international copyright & trademark legislation. The legal version of this news story can be viewed at https://ledgergazette.com/2017/10/10/analysts-expect-first-busey-corporation-buse-will-post-quarterly-sales-of-76-94-million.html.

In other First Busey Corporation news, insider Curt A. Anderson sold 1,400 shares of the business’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $29.40, for a total transaction of $41,160.00. Following the sale, the insider now directly owns 43,482 shares in the company, valued at approximately $1,278,370.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is currently owned by insiders.

Several hedge funds have recently added to or reduced their stakes in the business. Wellington Management Group LLP raised its position in shares of First Busey Corporation by 0.3% during the 1st quarter. Wellington Management Group LLP now owns 2,601,325 shares of the bank’s stock worth $76,479,000 after buying an additional 8,500 shares in the last quarter. Dimensional Fund Advisors LP raised its position in shares of First Busey Corporation by 5.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 1,784,688 shares of the bank’s stock worth $52,328,000 after buying an additional 86,789 shares in the last quarter. Vanguard Group Inc. raised its position in shares of First Busey Corporation by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,476,846 shares of the bank’s stock worth $43,301,000 after buying an additional 19,354 shares in the last quarter. Northern Trust Corp raised its position in shares of First Busey Corporation by 3.8% during the 2nd quarter. Northern Trust Corp now owns 712,793 shares of the bank’s stock worth $20,899,000 after buying an additional 26,024 shares in the last quarter. Finally, Nuveen Asset Management LLC raised its position in shares of First Busey Corporation by 40.5% during the 1st quarter. Nuveen Asset Management LLC now owns 650,565 shares of the bank’s stock worth $19,127,000 after buying an additional 187,551 shares in the last quarter. Institutional investors own 45.83% of the company’s stock.

About First Busey Corporation

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

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