Wall Street analysts expect that First Busey Co. (NASDAQ:BUSE) will report earnings per share of $0.53 for the current quarter, Zacks reports. Five analysts have provided estimates for First Busey’s earnings. The lowest EPS estimate is $0.52 and the highest is $0.54. First Busey posted earnings of $0.43 per share in the same quarter last year, which indicates a positive year over year growth rate of 23.3%. The business is expected to issue its next earnings report on Tuesday, July 24th.
According to Zacks, analysts expect that First Busey will report full year earnings of $2.19 per share for the current year, with EPS estimates ranging from $2.14 to $2.25. For the next year, analysts forecast that the business will report earnings of $2.38 per share, with EPS estimates ranging from $2.36 to $2.40. Zacks’ EPS calculations are a mean average based on a survey of research analysts that follow First Busey.
First Busey (NASDAQ:BUSE) last issued its quarterly earnings results on Tuesday, April 24th. The bank reported $0.45 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.52 by ($0.07). First Busey had a net margin of 20.74% and a return on equity of 9.93%. The firm had revenue of $82.24 million during the quarter, compared to the consensus estimate of $84.98 million.
A number of equities research analysts have recently weighed in on the company. BidaskClub downgraded First Busey from a “buy” rating to a “hold” rating in a report on Thursday, May 3rd. Keefe, Bruyette & Woods upgraded First Busey from a “market perform” rating to an “outperform” rating in a report on Wednesday, May 16th. B. Riley upped their price objective on First Busey from $35.00 to $36.00 and gave the stock a “buy” rating in a research note on Tuesday, June 19th. Finally, Zacks Investment Research downgraded First Busey from a “hold” rating to a “sell” rating in a research note on Tuesday, April 3rd. Five research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. First Busey presently has a consensus rating of “Hold” and a consensus target price of $33.80.
Shares of First Busey traded up $0.36, reaching $32.08, during trading on Wednesday, according to Marketbeat. The stock had a trading volume of 10,513 shares, compared to its average volume of 143,766. First Busey has a one year low of $27.33 and a one year high of $33.22. The company has a current ratio of 0.89, a quick ratio of 0.89 and a debt-to-equity ratio of 0.24. The company has a market capitalization of $1.55 billion, a price-to-earnings ratio of 19.70, a price-to-earnings-growth ratio of 2.41 and a beta of 1.10.
Institutional investors and hedge funds have recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in First Busey by 83.8% during the 1st quarter. SG Americas Securities LLC now owns 6,477 shares of the bank’s stock worth $192,000 after buying an additional 2,953 shares during the last quarter. Her Majesty the Queen in Right of the Province of Alberta as represented by Alberta Investment Management Corp bought a new position in First Busey during the 1st quarter worth $208,000. Quantitative Systematic Strategies LLC bought a new position in First Busey during the 1st quarter worth $230,000. Xact Kapitalforvaltning AB bought a new position in First Busey during the 4th quarter worth $239,000. Finally, LPL Financial LLC bought a new position in First Busey during the 4th quarter worth $281,000. Hedge funds and other institutional investors own 48.14% of the company’s stock.
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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