Analysts expect that First Busey Co. (NASDAQ:BUSE) will post $99.65 million in sales for the current quarter, according to Zacks. Five analysts have provided estimates for First Busey’s earnings, with the lowest sales estimate coming in at $95.10 million and the highest estimate coming in at $102.86 million. First Busey reported sales of $82.24 million in the same quarter last year, which would suggest a positive year over year growth rate of 21.2%. The company is scheduled to issue its next quarterly earnings results on Tuesday, April 23rd.
According to Zacks, analysts expect that First Busey will report full year sales of $413.52 million for the current financial year, with estimates ranging from $405.30 million to $420.20 million. For the next year, analysts forecast that the business will post sales of $429.79 million, with estimates ranging from $424.50 million to $437.90 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of sell-side analysts that follow First Busey.
Get First Busey alerts:First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, January 29th. The bank reported $0.53 EPS for the quarter, missing the Thomson Reuters’ consensus estimate of $0.54 by ($0.01). First Busey had a return on equity of 10.81% and a net margin of 26.31%. The company had revenue of $83.36 million for the quarter, compared to analysts’ expectations of $84.54 million.
Several research firms have recently commented on BUSE. BidaskClub cut First Busey from a “hold” rating to a “sell” rating in a research note on Tuesday, December 4th. B. Riley cut their price target on First Busey from $36.00 to $33.00 and set a “buy” rating for the company in a research note on Monday, November 5th. Finally, Zacks Investment Research upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, February 21st. Two research analysts have rated the stock with a sell rating, two have given a hold rating and four have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $30.75.
Several institutional investors have recently added to or reduced their stakes in BUSE. Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in First Busey by 31.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,945 shares of the bank’s stock worth $72,000 after acquiring an additional 712 shares during the period. Great West Life Assurance Co. Can grew its holdings in First Busey by 137.7% during the fourth quarter. Great West Life Assurance Co. Can now owns 4,636 shares of the bank’s stock worth $110,000 after acquiring an additional 2,686 shares during the period. Amundi Pioneer Asset Management Inc. acquired a new position in First Busey during the fourth quarter worth $120,000. Bank of Montreal Can grew its holdings in First Busey by 80.6% during the fourth quarter. Bank of Montreal Can now owns 7,011 shares of the bank’s stock worth $172,000 after acquiring an additional 3,129 shares during the period. Finally, Legal & General Group Plc grew its holdings in First Busey by 10.3% during the fourth quarter. Legal & General Group Plc now owns 7,893 shares of the bank’s stock worth $194,000 after acquiring an additional 738 shares during the period. Institutional investors and hedge funds own 51.45% of the company’s stock.
Shares of First Busey stock traded down $0.06 during trading hours on Thursday, hitting $27.06. 139,200 shares of the company were exchanged, compared to its average volume of 113,721. First Busey has a 1 year low of $23.13 and a 1 year high of $33.25. The company has a debt-to-equity ratio of 0.23, a current ratio of 0.87 and a quick ratio of 0.86. The stock has a market capitalization of $1.33 billion, a PE ratio of 12.89, a price-to-earnings-growth ratio of 2.02 and a beta of 1.03.
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 in three segments: Banking, Remittance Processing, and Wealth Management.
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