First Busey Corporation (BUSE) Releases Quarterly Earnings Results, Misses Expectations By $0.04 EPS
First Busey Corporation (NASDAQ:BUSE) announced its earnings results on Tuesday. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.45 by ($0.04), reports. First Busey Corporation had a net margin of 22.04% and a return on equity of 10.59%.
First Busey Corporation (BUSE) traded up 0.38% on Tuesday, reaching $31.89. The company had a trading volume of 61,338 shares. The stock has a market capitalization of $1.45 billion, a price-to-earnings ratio of 21.09 and a beta of 1.01. The firm has a 50 day moving average price of $30.48 and a 200-day moving average price of $29.60. First Busey Corporation has a 12 month low of $22.50 and a 12 month high of $32.44.
The firm also recently declared a quarterly dividend, which will be paid on Friday, October 27th. Investors of record on Friday, October 20th will be given a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.26%. The ex-dividend date is Thursday, October 19th. First Busey Corporation’s payout ratio is 47.37%.
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Several brokerages have recently commented on BUSE. Zacks Investment Research downgraded First Busey Corporation from a “buy” rating to a “hold” rating in a report on Tuesday, October 3rd. Piper Jaffray Companies set a $32.00 target price on First Busey Corporation and gave the company a “hold” rating in a report on Tuesday, July 25th. Finally, BidaskClub downgraded First Busey Corporation from a “hold” rating to a “sell” rating in a report on Wednesday, July 19th. 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. The stock presently has an average rating of “Hold” and a consensus price target of $32.50.
In related news, insider Curt A. Anderson sold 1,400 shares of First Busey Corporation stock in a transaction that occurred on 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 directly owns 43,482 shares in the company, valued at approximately $1,278,370.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 9.60% of the stock is currently owned by 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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