$84.98 Million in Sales Expected for First Busey Co. (BUSE) This Quarter

Equities analysts expect First Busey Co. (NASDAQ:BUSE) to announce $84.98 million in sales for the current quarter, Zacks Investment Research reports. Four analysts have made estimates for First Busey’s earnings, with the lowest sales estimate coming in at $83.80 million and the highest estimate coming in at $86.00 million. First Busey posted sales of $62.03 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 37%. The business is expected to issue its next earnings report on Tuesday, April 24th.

On average, analysts expect that First Busey will report full year sales of $84.98 million for the current financial year, with estimates ranging from $344.95 million to $351.30 million. For the next fiscal year, analysts forecast that the company will post sales of $361.84 million per share, with estimates ranging from $358.47 million to $363.80 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for First Busey.

First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.05). The firm had revenue of $86.61 million during the quarter, compared to the consensus estimate of $82.39 million. First Busey had a net margin of 20.31% and a return on equity of 10.75%.

Several equities research analysts have commented on the company. B. Riley upgraded 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. Keefe, Bruyette & Woods restated a “hold” rating and issued a $32.00 target price on shares of First Busey in a research note on Thursday, October 26th. BidaskClub cut First Busey from a “hold” rating to a “sell” rating in a research note on Friday, January 26th. ValuEngine cut First Busey from a “buy” rating to a “hold” rating in a research note on Friday, November 10th. Finally, FBR & Co reiterated a “neutral” rating and set a $34.00 price objective (up previously from $32.00) on shares of First Busey in a research note on Wednesday, October 25th. Five equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. First Busey currently has a consensus rating of “Hold” and an average price target of $33.60.

Shares of First Busey (NASDAQ BUSE) opened at $29.60 on Tuesday. The company has a market capitalization of $1,444.48, a P/E ratio of 17.45, a price-to-earnings-growth ratio of 2.22 and a beta of 1.03. The company has a debt-to-equity ratio of 0.27, a current ratio of 0.93 and a quick ratio of 0.90. First Busey has a 12 month low of $27.33 and a 12 month high of $32.88.

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Friday, January 26th were paid a dividend of $0.20 per share. The ex-dividend date was Thursday, January 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from First Busey’s previous quarterly dividend of $0.18. First Busey’s dividend payout ratio is currently 54.05%.

Institutional investors have recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its holdings in shares of First Busey by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,480 shares of the bank’s stock worth $718,000 after acquiring an additional 787 shares during the last quarter. Schwab Charles Investment Management Inc. increased its holdings in shares of First Busey by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 155,566 shares of the bank’s stock worth $4,562,000 after acquiring an additional 1,661 shares during the last quarter. Legal & General Group Plc increased its holdings in shares of First Busey by 24.0% during the 3rd quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock worth $311,000 after acquiring an additional 1,918 shares during the last quarter. American International Group Inc. increased its holdings in shares of First Busey by 7.9% during the 4th quarter. American International Group Inc. now owns 27,442 shares of the bank’s stock worth $822,000 after acquiring an additional 2,005 shares during the last quarter. Finally, Citigroup Inc. increased its holdings in shares of First Busey by 45.5% during the 2nd quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock worth $188,000 after acquiring an additional 2,009 shares during the last quarter. Institutional investors own 45.94% of the company’s stock.

ILLEGAL ACTIVITY NOTICE: “$84.98 Million in Sales Expected for First Busey Co. (BUSE) This Quarter” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this piece of content on another publication, it was illegally copied and reposted in violation of US & international copyright and trademark laws. The legal version of this piece of content can be viewed at https://www.americanbankingnews.com/2018/02/13/84-98-million-in-sales-expected-for-first-busey-co-buse-this-quarter.html.

About First Busey

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.

Get a free copy of the Zacks research report on First Busey (BUSE)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for First Busey Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Busey and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply