First Busey Corporation Expected to Post Q1 2018 Earnings of $0.46 Per Share (BUSE)
First Busey Corporation (NASDAQ:BUSE) – Investment analysts at FIG Partners lifted their Q1 2018 EPS estimates for First Busey Corporation in a research note issued to investors on Monday. FIG Partners analyst B. Martin now expects that the bank will post earnings of $0.46 per share for the quarter, up from their previous estimate of $0.45. FIG Partners also issued estimates for First Busey Corporation’s Q4 2018 earnings at $0.53 EPS.
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Other analysts also recently issued reports about the company. Zacks Investment Research raised First Busey Corporation from a “hold” rating to a “buy” rating and set a $35.00 price target for the company in a research report on Monday, October 2nd. Piper Jaffray Companies set a $32.00 price target on First Busey Corporation and gave the company a “hold” rating in a research report on Tuesday, July 25th. Keefe, Bruyette & Woods reissued a “hold” rating and set a $32.00 price objective on shares of First Busey Corporation in a report on Thursday, October 26th. FBR & Co reissued a “neutral” rating and set a $34.00 price objective (up from $32.00) on shares of First Busey Corporation in a report on Wednesday, October 25th. Finally, BidaskClub lowered 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 given a hold rating and one has given a buy rating to the company. The company currently has an average rating of “Hold” and an average price target of $33.25.
The company also recently disclosed a quarterly dividend, which was paid on Friday, October 27th. Shareholders of record on Friday, October 20th were issued a dividend of $0.18 per share. This represents a $0.72 annualized dividend and a yield of 2.31%. The ex-dividend date of this dividend was Thursday, October 19th. First Busey Corporation’s dividend payout ratio (DPR) is 47.06%.
A number of hedge funds and other institutional investors have recently made changes to their positions in BUSE. BNP Paribas Arbitrage SA grew its holdings in First Busey Corporation by 799.2% during the second quarter. BNP Paribas Arbitrage SA now owns 4,460 shares of the bank’s stock valued at $131,000 after purchasing an additional 3,964 shares during the period. US Bancorp DE grew its holdings in First Busey Corporation by 0.5% during the second quarter. US Bancorp DE now owns 4,951 shares of the bank’s stock valued at $145,000 after purchasing an additional 23 shares during the period. Citigroup Inc. grew its holdings in First Busey Corporation by 45.5% during the second quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock valued at $188,000 after purchasing an additional 2,009 shares during the period. Meeder Asset Management Inc. grew its holdings in First Busey Corporation by 143.6% during the third quarter. Meeder Asset Management Inc. now owns 5,998 shares of the bank’s stock valued at $188,000 after purchasing an additional 3,536 shares during the period. Finally, Robeco Institutional Asset Management B.V. bought a new position in First Busey Corporation during the second quarter valued at $208,000. 45.45% of the stock is owned by institutional investors and hedge funds.
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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