First Busey Corporation (BUSE) to Post Q3 2017 Earnings of $0.47 Per Share, DA Davidson Forecasts
First Busey Corporation (NASDAQ:BUSE) – Equities research analysts at DA Davidson lowered their Q3 2017 EPS estimates for shares of First Busey Corporation in a report issued on Wednesday. DA Davidson analyst K. Reevey now expects that the bank will post earnings per share of $0.47 for the quarter, down from their prior forecast of $0.49. DA Davidson also issued estimates for First Busey Corporation’s Q4 2017 earnings at $0.51 EPS, FY2017 earnings at $1.82 EPS, Q1 2018 earnings at $0.50 EPS, Q2 2018 earnings at $0.50 EPS, Q3 2018 earnings at $0.53 EPS, Q4 2018 earnings at $0.54 EPS and FY2018 earnings at $2.06 EPS.
Other equities research analysts also recently issued research reports about the stock. BidaskClub downgraded shares of First Busey Corporation from a “hold” rating to a “sell” rating in a research report on Wednesday, July 19th. Zacks Investment Research raised shares of First Busey Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Finally, Piper Jaffray Companies set a $32.00 price objective on shares of First Busey Corporation and gave the company a “hold” rating in a research report on Tuesday, July 25th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and one has issued a buy rating to the company. First Busey Corporation has an average rating of “Hold” and an average price target of $32.50.
First Busey Corporation (NASDAQ:BUSE) opened at 31.39 on Thursday. The stock has a market capitalization of $1.43 billion, a P/E ratio of 20.76 and a beta of 1.01. The stock has a 50 day moving average price of $29.36 and a 200-day moving average price of $29.33. First Busey Corporation has a one year low of $21.83 and a one year high of $32.22.
First Busey Corporation (NASDAQ:BUSE) last announced its quarterly earnings results on Tuesday, July 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.42 by $0.01. First Busey Corporation had a return on equity of 10.59% and a net margin of 22.04%. The business had revenue of $62.43 million for the quarter, compared to the consensus estimate of $63.40 million.
Hedge funds and other institutional investors have recently bought and sold shares of the business. BNP Paribas Arbitrage SA grew its position in 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 purchasing an additional 3,964 shares during the last quarter. US Bancorp DE grew its position in 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 purchasing an additional 255 shares during the last quarter. Citigroup Inc. grew its position in 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 purchasing an additional 2,009 shares during the last quarter. Robeco Institutional Asset Management B.V. bought a new position in First Busey Corporation in the 2nd quarter worth about $208,000. Finally, Victory Capital Management Inc. grew its position in 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 purchasing an additional 1,139 shares during the last quarter. Hedge funds and other institutional investors own 45.83% of the company’s stock.
In other First Busey Corporation news, insider Curt A. Anderson sold 1,400 shares of the company’s stock in a transaction dated Wednesday, August 2nd. The shares were sold at an average price of $29.40, for a total value of $41,160.00. Following the completion of the transaction, the insider now owns 43,482 shares in the company, valued at approximately $1,278,370.80. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 9.60% of the stock is currently owned by corporate insiders.
First Busey Corporation Company Profile
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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