Analysts expect First Busey Co. (NASDAQ:BUSE) to announce sales of $98.87 million for the current fiscal quarter, Zacks Investment Research reports. Four analysts have provided estimates for First Busey's earnings, with the highest sales estimate coming in at $100.00 million and the lowest estimate coming in at $97.55 million. First Busey posted sales of $98.78 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 0.1%. The company is expected to announce its next earnings results on Tuesday, July 27th.
According to Zacks, analysts expect that First Busey will report full year sales of $402.86 million for the current fiscal year, with estimates ranging from $397.79 million to $406.00 million. For the next fiscal year, analysts expect that the company will post sales of $414.41 million, with estimates ranging from $407.95 million to $424.00 million. Zacks Investment Research's sales averages are a mean average based on a survey of research analysts that cover First Busey.
First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Monday, April 26th. The bank reported $0.69 EPS for the quarter, topping analysts' consensus estimates of $0.52 by $0.17. The business had revenue of $96.34 million during the quarter, compared to analysts' expectations of $97.54 million. First Busey had a net margin of 28.12% and a return on equity of 10.45%.
A number of research analysts have recently issued reports on BUSE shares. B. Riley reiterated a "buy" rating and set a $29.00 price objective (up from $26.00) on shares of First Busey in a report on Wednesday, March 17th. Zacks Investment Research cut shares of First Busey from a "strong-buy" rating to a "hold" rating in a report on Tuesday, May 18th.
Shares of NASDAQ BUSE opened at $26.44 on Friday. The firm has a market capitalization of $1.44 billion, a PE ratio of 11.80 and a beta of 1.11. The firm's 50-day simple moving average is $25.72. First Busey has a 1 year low of $15.07 and a 1 year high of $27.61. The company has a debt-to-equity ratio of 0.24, a current ratio of 0.78 and a quick ratio of 0.78.
The company also recently declared a quarterly dividend, which was paid on Friday, April 30th. Investors of record on Friday, April 23rd were given a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a dividend yield of 3.48%. The ex-dividend date of this dividend was Thursday, April 22nd. First Busey's payout ratio is currently 46.46%.
Hedge funds have recently made changes to their positions in the business. Berman Capital Advisors LLC raised its position in First Busey by 167.5% in the first quarter. Berman Capital Advisors LLC now owns 2,175 shares of the bank's stock worth $55,000 after acquiring an additional 1,362 shares during the period. Vestor Capital LLC bought a new stake in First Busey in the fourth quarter worth about $51,000. Ausdal Financial Partners Inc. bought a new stake in First Busey in the first quarter worth about $228,000. Handelsbanken Fonder AB bought a new stake in First Busey in the fourth quarter worth about $215,000. Finally, Corient Capital Partners LLC bought a new stake in First Busey in the fourth quarter worth about $232,000. 48.63% of the stock is currently owned by institutional investors and hedge funds.
About First Busey
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 through three segments: Banking, Remittance Processing, and Wealth Management.
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