First Busey Corporation (BUSE) Expected to Announce Earnings of $0.46 Per Share
Brokerages predict that First Busey Corporation (NASDAQ:BUSE) will post earnings of $0.46 per share for the current fiscal quarter, Zacks Investment Research reports. Four analysts have made estimates for First Busey Corporation’s earnings, with the highest EPS estimate coming in at $0.47 and the lowest estimate coming in at $0.44. First Busey Corporation posted earnings per share of $0.40 during the same quarter last year, which would indicate a positive year-over-year growth rate of 15%. The business is expected to issue its next earnings report after the market closes on Tuesday, October 24th.
On average, analysts expect that First Busey Corporation will report full-year earnings of $1.75 per share for the current year, with EPS estimates ranging from $1.70 to $1.82. For the next fiscal year, analysts anticipate that the firm will post earnings of $2.03 per share, with EPS estimates ranging from $1.98 to $2.07. Zacks Investment Research’s EPS calculations are an average based on a survey of sell-side analysts that follow First Busey Corporation.
First Busey Corporation (NASDAQ:BUSE) last posted its quarterly earnings results on Tuesday, July 25th. The bank reported $0.43 EPS for the quarter, beating the consensus estimate of $0.42 by $0.01. The company had revenue of $62.43 million during the quarter, compared to analysts’ expectations of $63.40 million. First Busey Corporation had a return on equity of 10.59% and a net margin of 22.04%.
Several brokerages recently weighed in on BUSE. BidaskClub downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a research note on Wednesday, July 19th. Zacks Investment Research upgraded First Busey Corporation from a “sell” rating to a “hold” rating in a research note on Monday, July 3rd. Finally, Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the company a “hold” rating in a research note on Tuesday, July 25th. One investment analyst has rated the stock with a sell rating, four have given a hold rating and one has given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $32.50.
In other First Busey Corporation news, insider Curt A. Anderson sold 1,400 shares of the firm’s stock in a transaction that occurred on Wednesday, August 2nd. The stock was sold at an average price of $29.40, for a total value of $41,160.00. Following the completion of the sale, the insider now owns 43,482 shares in the company, valued at approximately $1,278,370.80. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 9.60% of the stock is owned by corporate insiders.
Several hedge funds have recently made changes to their positions in BUSE. BNP Paribas Arbitrage SA lifted its position in shares of First Busey Corporation by 799.2% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 4,460 shares of the bank’s stock worth $131,000 after acquiring an additional 3,964 shares during the period. US Bancorp DE lifted its position in shares of First Busey Corporation by 5.5% in the 1st quarter. US Bancorp DE now owns 4,928 shares of the bank’s stock worth $145,000 after acquiring an additional 255 shares during the period. Citigroup Inc. lifted its position in shares of First Busey Corporation by 45.5% in the 2nd quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock worth $188,000 after acquiring an additional 2,009 shares during the period. Robeco Institutional Asset Management B.V. bought a new stake in shares of First Busey Corporation in the 2nd quarter worth approximately $208,000. Finally, Victory Capital Management Inc. lifted its position in shares of First Busey Corporation by 17.6% in the 2nd quarter. Victory Capital Management Inc. now owns 7,608 shares of the bank’s stock worth $223,000 after acquiring an additional 1,139 shares during the period. Institutional investors own 45.83% of the company’s stock.
First Busey Corporation (BUSE) traded up 0.28% during mid-day trading on Friday, reaching $32.09. The company’s stock had a trading volume of 99,792 shares. The firm has a market capitalization of $1.46 billion, a price-to-earnings ratio of 21.22 and a beta of 1.01. The firm has a 50-day moving average of $29.80 and a 200 day moving average of $29.43. First Busey Corporation has a 1-year low of $21.83 and a 1-year high of $32.22.
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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