Analysts expect First Busey Co. (NASDAQ:BUSE) to announce $99.72 million in sales for the current quarter, Zacks reports. Four analysts have provided estimates for First Busey's earnings. The lowest sales estimate is $94.83 million and the highest is $103.94 million. First Busey posted sales of $104.41 million in the same quarter last year, which suggests a negative year over year growth rate of 4.5%. The firm is scheduled to announce its next quarterly earnings results on Tuesday, October 27th.
According to Zacks, analysts expect that First Busey will report full year sales of $402.21 million for the current year, with estimates ranging from $389.09 million to $416.24 million. For the next year, analysts expect that the firm will report sales of $377.97 million, with estimates ranging from $367.38 million to $387.00 million. Zacks' sales averages are a mean average based on a survey of sell-side analysts that cover First Busey.
First Busey (NASDAQ:BUSE) last released its earnings results on Tuesday, July 28th. The bank reported $0.47 EPS for the quarter, topping the Thomson Reuters' consensus estimate of $0.26 by $0.21. First Busey had a net margin of 20.37% and a return on equity of 8.51%. The company had revenue of $98.78 million during the quarter, compared to analysts' expectations of $98.26 million.
A number of brokerages recently commented on BUSE. Raymond James reaffirmed a "hold" rating on shares of First Busey in a research report on Friday, August 14th. ValuEngine downgraded First Busey from a "hold" rating to a "sell" rating in a research report on Monday, August 3rd. Zacks Investment Research raised First Busey from a "strong sell" rating to a "hold" rating in a research report on Tuesday, June 30th. Finally, BidaskClub downgraded First Busey from a "hold" rating to a "sell" rating in a research report on Tuesday, September 15th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and one has issued a buy rating to the company. The company currently has an average rating of "Hold" and an average target price of $25.50.
In other news, Director Stephen V. King bought 27,058 shares of the business's stock in a transaction dated Friday, August 14th. The shares were purchased at an average price of $18.44 per share, for a total transaction of $498,949.52. Following the completion of the acquisition, the director now owns 12,936 shares of the company's stock, valued at $238,539.84. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Stanley J. Bradshaw bought 2,100 shares of the business's stock in a transaction dated Friday, July 31st. The stock was purchased at an average price of $16.80 per share, for a total transaction of $35,280.00. Following the acquisition, the director now directly owns 9,491 shares of the company's stock, valued at approximately $159,448.80. The disclosure for this purchase can be found here. Company insiders own 7.50% of the company's stock.
Several institutional investors have recently modified their holdings of the company. Woodley Farra Manion Portfolio Management Inc. grew its holdings in shares of First Busey by 32.0% in the second quarter. Woodley Farra Manion Portfolio Management Inc. now owns 2,477 shares of the bank's stock worth $46,000 after purchasing an additional 600 shares during the last quarter. Swiss National Bank lifted its stake in First Busey by 0.7% in the first quarter. Swiss National Bank now owns 96,099 shares of the bank's stock worth $1,644,000 after acquiring an additional 700 shares during the period. Victory Capital Management Inc. lifted its stake in First Busey by 0.4% in the first quarter. Victory Capital Management Inc. now owns 190,289 shares of the bank's stock worth $3,256,000 after acquiring an additional 794 shares during the period. Commonwealth Equity Services LLC lifted its stake in First Busey by 3.7% in the first quarter. Commonwealth Equity Services LLC now owns 22,271 shares of the bank's stock worth $381,000 after acquiring an additional 800 shares during the period. Finally, Macquarie Group Ltd. lifted its stake in First Busey by 2.2% in the second quarter. Macquarie Group Ltd. now owns 46,198 shares of the bank's stock worth $862,000 after acquiring an additional 998 shares during the period. Hedge funds and other institutional investors own 46.82% of the company's stock.
BUSE stock opened at $16.93 on Friday. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.90 and a current ratio of 0.91. The stock has a market capitalization of $922.96 million, a PE ratio of 9.84 and a beta of 1.12. The company has a fifty day moving average of $17.75 and a 200-day moving average of $17.53. First Busey has a one year low of $11.00 and a one year high of $28.00.
First Busey Company Profile
First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. The company operates in three segments: Banking, Remittance Processing, and Wealth Management.
See Also: Cost of Capital Explained
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
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to [email protected]
20 High-Yield Dividend Stocks that Could Ruin Your Retirement Portfolio
Almost everyone loves a company that pays strong dividends. Who doesn't like receiving a check every quarter for simply owning a stock--especially if that stock is paying you back 4%, 5% or even 10% of its share price in annual income each year?. In a world where 10-year treasuries are yielding just above 2%, it seems hard to go wrong when buying a stock that's yielding significantly above the going rates on fixed-income assets. Unfortunately, the market rarely offers a free lunch.
While high-yield stocks may have a lot of near-term attractiveness, those same high-yields can often signal significant danger ahead. In some cases, it might mean that the company's dividend will stop growing or won't grow as fast as it used to. Worse yet, the company could cut its dividend, reduce the income you receive from owning the stock and drive down the value of the shares that you own.
4%-plus yields might seem like an easy opportunity to boost the investment income you receive, but high-yield stocks can just as often be a track reading to snare unsuspecting investors. It's not always easy to tell the difference though.
This slideshow highlights 10 high-yield dividend stocks that are paying an unsustainably large percentage of their earnings in the form of a dividend. These companies are all paying out more than 100% of their earnings per share in the form of a dividend, a sign that the advertised high-yield probably won't last.
View the "20 High-Yield Dividend Stocks that Could Ruin Your Retirement Portfolio".