FY2025 EPS Estimates for First Busey Lowered by DA Davidson

Key Points

• DA Davidson has lowered its FY2025 earnings estimates for First Busey Corporation to $2.49 per share, down from $2.50, while the consensus estimate stands at $2.61 per share.
• First Busey reported quarterly earnings of $0.63 per share, exceeding analysts' estimates, but revenue came in slightly lower than expectations at $192.05 million.
• The firm has a dividend yield of 4.2%, with a quarterly dividend of $0.25 paid recently, representing an annualized payout of $1.00.

First Busey Corporation (NASDAQ:BUSE - Free Report) - Research analysts at DA Davidson decreased their FY2025 earnings estimates for shares of First Busey in a research report issued on Friday, September 26th. DA Davidson analyst J. Rulis now anticipates that the bank will post earnings of $2.49 per share for the year, down from their previous forecast of $2.50. DA Davidson has a "Neutral" rating and a $26.00 price objective on the stock. The consensus estimate for First Busey's current full-year earnings is $2.61 per share.

First Busey (NASDAQ:BUSE - Get Free Report) last released its quarterly earnings data on Tuesday, July 22nd. The bank reported $0.63 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.02. First Busey had a return on equity of 8.76% and a net margin of 9.48%.The firm had revenue of $192.05 million for the quarter, compared to the consensus estimate of $193.91 million.

Several other equities analysts have also issued reports on the company. Hovde Group initiated coverage on First Busey in a research report on Monday, June 30th. They set a "market perform" rating and a $25.00 target price for the company. Piper Sandler began coverage on First Busey in a report on Tuesday, July 1st. They set an "overweight" rating and a $30.00 target price on the stock. Raymond James Financial reissued an "outperform" rating and set a $28.00 target price (up previously from $27.00) on shares of First Busey in a report on Friday, August 29th. Finally, Keefe, Bruyette & Woods decreased their target price on shares of First Busey from $30.00 to $29.00 and set an "outperform" rating on the stock in a report on Thursday, July 24th. Three equities research analysts have rated the stock with a Buy rating and three have assigned a Hold rating to the company's stock. According to MarketBeat.com, First Busey presently has a consensus rating of "Moderate Buy" and an average price target of $27.33.

First Busey Trading Up 0.0%

Shares of First Busey stock opened at $24.00 on Monday. First Busey has a 12-month low of $18.40 and a 12-month high of $28.30. The company has a 50-day simple moving average of $23.78 and a 200 day simple moving average of $22.65. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.11. The stock has a market capitalization of $2.14 billion, a P/E ratio of 21.43 and a beta of 0.82.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Signaturefd LLC raised its position in shares of First Busey by 23.7% during the first quarter. Signaturefd LLC now owns 2,524 shares of the bank's stock worth $55,000 after purchasing an additional 483 shares during the period. M&T Bank Corp boosted its holdings in First Busey by 2.6% during the first quarter. M&T Bank Corp now owns 21,069 shares of the bank's stock worth $455,000 after purchasing an additional 528 shares during the last quarter. Cresset Asset Management LLC raised its holdings in First Busey by 2.7% during the first quarter. Cresset Asset Management LLC now owns 20,633 shares of the bank's stock worth $446,000 after acquiring an additional 538 shares in the last quarter. Teacher Retirement System of Texas boosted its holdings in shares of First Busey by 4.6% in the 2nd quarter. Teacher Retirement System of Texas now owns 12,965 shares of the bank's stock valued at $297,000 after buying an additional 572 shares during the last quarter. Finally, CANADA LIFE ASSURANCE Co lifted its stake in First Busey by 5.1% in the second quarter. CANADA LIFE ASSURANCE Co now owns 13,237 shares of the bank's stock valued at $303,000 after acquiring an additional 640 shares during the last quarter. Institutional investors own 56.49% of the company's stock.

Insider Activity at First Busey

In other First Busey news, Director Karen M. Jensen purchased 3,000 shares of the stock in a transaction on Friday, September 12th. The stock was acquired at an average price of $24.60 per share, with a total value of $73,800.00. Following the transaction, the director directly owned 86,798 shares of the company's stock, valued at approximately $2,135,230.80. This trade represents a 3.58% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Scott A. Phillips purchased 1,000 shares of First Busey stock in a transaction that occurred on Tuesday, August 19th. The stock was purchased at an average cost of $25.25 per share, for a total transaction of $25,250.00. Following the completion of the purchase, the chief financial officer owned 1,000 shares of the company's stock, valued at $25,250. This trade represents a ∞ increase in their ownership of the stock. The disclosure for this purchase can be found here. Over the last 90 days, insiders purchased 6,500 shares of company stock worth $157,175. 3.85% of the stock is owned by company insiders.

First Busey Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Friday, July 25th. Investors of record on Friday, July 18th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 4.2%. The ex-dividend date was Friday, July 18th. First Busey's dividend payout ratio (DPR) is 89.29%.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.

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