First Busey (NASDAQ:BUSE) announced its quarterly earnings data on Tuesday. The bank reported $0.45 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.52 by ($0.07), Bloomberg Earnings reports. First Busey had a net margin of 20.31% and a return on equity of 9.84%.
Shares of BUSE traded up $0.36 during midday trading on Tuesday, hitting $31.13. The company’s stock had a trading volume of 93,801 shares, compared to its average volume of 128,194. First Busey has a one year low of $27.33 and a one year high of $32.88. The company has a debt-to-equity ratio of 0.24, a quick ratio of 0.87 and a current ratio of 0.89. The firm has a market cap of $1,488.53, a price-to-earnings ratio of 19.35, a PEG ratio of 2.26 and a beta of 1.04.
The firm also recently declared a quarterly dividend, which will be paid on Friday, April 27th. Stockholders of record on Friday, April 20th will be paid a $0.20 dividend. The ex-dividend date is Thursday, April 19th. This represents a $0.80 annualized dividend and a dividend yield of 2.57%. First Busey’s payout ratio is 49.69%.
Several brokerages have weighed in on BUSE. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research lowered First Busey from a “buy” rating to a “hold” rating in a research note on Tuesday, February 27th. Piper Jaffray reiterated a “hold” rating and issued a $33.00 price target on shares of First Busey in a research note on Tuesday, January 9th. Finally, B. Riley upgraded First Busey from a “neutral” rating to a “buy” rating and decreased their price target for the company from $36.00 to $35.00 in a research note on Tuesday, February 6th. Six investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. First Busey has a consensus rating of “Hold” and a consensus price target of $33.60.
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About First Busey
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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