First Busey Co. (NASDAQ:BUSE) – Stock analysts at B. Riley decreased their Q2 2019 earnings estimates for shares of First Busey in a research report issued to clients and investors on Wednesday, May 15th. B. Riley analyst S. Moss now expects that the bank will post earnings per share of $0.51 for the quarter, down from their prior estimate of $0.53. B. Riley has a “Buy” rating on the stock. B. Riley also issued estimates for First Busey’s Q3 2019 earnings at $0.54 EPS and Q4 2020 earnings at $0.59 EPS.
A number of other equities analysts also recently issued reports on BUSE. Zacks Investment Research downgraded First Busey from a “buy” rating to a “hold” rating in a research note on Friday, January 18th. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a research report on Saturday, January 19th. One research analyst has rated the stock with a sell rating, three have issued a hold rating and four have issued a buy rating to the stock. First Busey presently has a consensus rating of “Hold” and an average price target of $30.75.
First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.48 earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of $0.51 by ($0.03). The firm had revenue of $94.33 million during the quarter, compared to analysts’ expectations of $96.24 million. First Busey had a return on equity of 10.23% and a net margin of 25.94%.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BUSE. Bank of New York Mellon Corp lifted its position in First Busey by 1.1% during the third quarter. Bank of New York Mellon Corp now owns 289,573 shares of the bank’s stock valued at $8,991,000 after purchasing an additional 3,219 shares in the last quarter. JPMorgan Chase & Co. lifted its position in shares of First Busey by 10.7% in the third quarter. JPMorgan Chase & Co. now owns 39,089 shares of the bank’s stock valued at $1,213,000 after acquiring an additional 3,775 shares in the last quarter. Teachers Advisors LLC lifted its position in shares of First Busey by 2.6% in the third quarter. Teachers Advisors LLC now owns 83,702 shares of the bank’s stock valued at $2,599,000 after acquiring an additional 2,141 shares in the last quarter. TIAA CREF Investment Management LLC lifted its position in shares of First Busey by 14.9% in the third quarter. TIAA CREF Investment Management LLC now owns 228,147 shares of the bank’s stock valued at $7,084,000 after acquiring an additional 29,661 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in shares of First Busey by 2.8% in the third quarter. Vanguard Group Inc. now owns 1,992,149 shares of the bank’s stock valued at $61,857,000 after acquiring an additional 54,654 shares in the last quarter. Institutional investors own 44.98% of the company’s stock.
In related news, Director Stephen V. King bought 48,910 shares of the stock in a transaction that occurred on Monday, May 6th. The shares were bought at an average cost of $26.83 per share, for a total transaction of $1,312,255.30. Following the completion of the transaction, the director now owns 7,357 shares of the company’s stock, valued at $197,388.31. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Thomas G. Sloan bought 8,000 shares of the stock in a transaction that occurred on Tuesday, April 30th. The shares were bought at an average price of $25.91 per share, for a total transaction of $207,280.00. Following the completion of the transaction, the director now directly owns 231,471 shares of the company’s stock, valued at approximately $5,997,413.61. The disclosure for this purchase can be found here. Insiders have purchased 67,770 shares of company stock worth $1,804,991 over the last quarter. 7.50% of the stock is owned by company insiders.
The business also recently announced a quarterly dividend, which was paid on Friday, April 26th. Investors of record on Friday, April 19th were given a dividend of $0.21 per share. The ex-dividend date was Wednesday, April 17th. This represents a $0.84 annualized dividend and a yield of 3.28%. First Busey’s dividend payout ratio (DPR) is presently 40.00%.
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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