Wall Street analysts expect First Busey Co. (NASDAQ:BUSE) to post earnings of $0.46 per share for the current quarter, according to Zacks Investment Research. Four analysts have made estimates for First Busey’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.44. First Busey posted earnings per share of $0.41 during the same quarter last year, which would indicate a positive year over year growth rate of 12.2%. The business is expected to issue its next quarterly earnings results on Thursday, January 25th.
On average, analysts expect that First Busey will report full-year earnings of $1.69 per share for the current financial year, with EPS estimates ranging from $1.67 to $1.71. For the next fiscal year, analysts expect that the business will post earnings of $2.02 per share, with EPS estimates ranging from $2.00 to $2.05. Zacks’ EPS averages are a mean average based on a survey of sell-side research firms that follow First Busey.
Several equities analysts have recently commented on BUSE shares. Zacks Investment Research upgraded shares of First Busey from a “hold” rating to a “buy” rating and set a $35.00 target price for the company in a research report on Monday, October 2nd. FBR & Co restated a “neutral” rating and issued a $34.00 target price (up from $32.00) on shares of First Busey in a research report on Wednesday, October 25th. ValuEngine cut shares of First Busey from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Finally, Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 target price on shares of First Busey in a research report on Thursday, October 26th. One research analyst has rated the stock with a sell rating and five have given a hold rating to the company’s stock. First Busey currently has a consensus rating of “Hold” and a consensus price target of $33.25.
Shares of First Busey (NASDAQ BUSE) traded up $0.31 during trading hours on Monday, hitting $31.81. 145,239 shares of the stock traded hands, compared to its average volume of 122,830. The firm has a market cap of $1,550.00, a PE ratio of 18.53, a PEG ratio of 3.11 and a beta of 0.98. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27. First Busey has a one year low of $27.33 and a one year high of $32.88.
In related news, Director George Barr sold 14,492 shares of the company’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $31.30, for a total transaction of $453,599.60. Following the completion of the transaction, the director now directly owns 64,088 shares in the company, valued at approximately $2,005,954.40. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 9.60% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. GSA Capital Partners LLP acquired a new position in First Busey during the 3rd quarter worth approximately $445,000. California Public Employees Retirement System increased its position in First Busey by 15.5% during the 3rd quarter. California Public Employees Retirement System now owns 90,884 shares of the bank’s stock worth $2,850,000 after purchasing an additional 12,189 shares in the last quarter. Ladenburg Thalmann Financial Services Inc. increased its position in First Busey by 1,790.1% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 17,597 shares of the bank’s stock worth $552,000 after purchasing an additional 16,666 shares in the last quarter. Magnetar Financial LLC acquired a new position in First Busey during the 3rd quarter worth approximately $204,000. Finally, California State Teachers Retirement System increased its position in First Busey by 5.2% during the 3rd quarter. California State Teachers Retirement System now owns 60,585 shares of the bank’s stock worth $1,900,000 after purchasing an additional 3,004 shares in the last quarter. Institutional investors and hedge funds own 46.12% of the company’s stock.
About First Busey
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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