Zacks: Brokerages Anticipate First Busey Co. (BUSE) to Announce $0.56 Earnings Per Share

Wall Street analysts predict that First Busey Co. (NASDAQ:BUSE) will post earnings per share of $0.56 for the current quarter, Zacks reports. Four analysts have provided estimates for First Busey’s earnings, with the lowest EPS estimate coming in at $0.55 and the highest estimate coming in at $0.58. First Busey reported earnings per share of $0.43 during the same quarter last year, which suggests a positive year-over-year growth rate of 30.2%. The firm is expected to report its next earnings report on Tuesday, July 24th.

According to Zacks, analysts expect that First Busey will report full year earnings of $2.25 per share for the current fiscal year, with EPS estimates ranging from $2.21 to $2.29. For the next financial year, analysts forecast that the business will report earnings of $2.39 per share, with EPS estimates ranging from $2.36 to $2.43. Zacks’ EPS calculations are a mean average based on a survey of sell-side analysts that follow First Busey.

First Busey (NASDAQ:BUSE) last posted its quarterly earnings data on Tuesday, April 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.52 by ($0.07). The company had revenue of $82.24 million during the quarter, compared to the consensus estimate of $84.98 million. First Busey had a net margin of 20.74% and a return on equity of 10.39%.

Several research analysts have recently issued reports on BUSE shares. BidaskClub upgraded shares of First Busey from a “sell” rating to a “hold” rating in a report on Thursday, January 11th. Zacks Investment Research raised shares of First Busey from a “hold” rating to a “buy” rating and set a $34.00 target price for the company in a research note on Monday, January 1st. Piper Jaffray reissued a “hold” rating and set a $33.00 target price on shares of First Busey in a research note on Tuesday, January 9th. Finally, B. Riley raised shares of First Busey from a “neutral” rating to a “buy” rating and cut their target price for the company from $36.00 to $35.00 in a research note on Tuesday, February 6th. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. First Busey has an average rating of “Hold” and an average price target of $33.60.

Hedge funds have recently added to or reduced their stakes in the business. Xact Kapitalforvaltning AB purchased a new stake in First Busey in the 4th quarter worth approximately $239,000. LPL Financial LLC purchased a new stake in First Busey in the 4th quarter worth approximately $281,000. Legal & General Group Plc lifted its position in First Busey by 24.0% in the 3rd quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock worth $311,000 after buying an additional 1,918 shares in the last quarter. US Bancorp DE increased its stake in shares of First Busey by 168.6% during the 4th quarter. US Bancorp DE now owns 11,678 shares of the bank’s stock worth $349,000 after purchasing an additional 7,331 shares during the last quarter. Finally, Meeder Asset Management Inc. increased its stake in shares of First Busey by 117.9% during the 4th quarter. Meeder Asset Management Inc. now owns 13,068 shares of the bank’s stock worth $391,000 after purchasing an additional 7,070 shares during the last quarter. Institutional investors own 47.15% of the company’s stock.

Shares of First Busey stock traded down $0.46 on Thursday, hitting $30.31. The company had a trading volume of 128,597 shares, compared to its average volume of 127,971. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.89 and a quick ratio of 0.87. The stock has a market capitalization of $1,516.30, a PE ratio of 18.85, a price-to-earnings-growth ratio of 2.31 and a beta of 1.04. First Busey has a 52 week low of $27.33 and a 52 week high of $32.88.

The business also recently announced a quarterly dividend, which will be paid on Friday, April 27th. Shareholders of record on Friday, April 20th will be given a $0.20 dividend. The ex-dividend date of this dividend is Thursday, April 19th. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%. First Busey’s payout ratio is 49.69%.

First Busey Company Profile

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

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