First Busey Co. (NASDAQ:BUSE) – Investment analysts at Piper Sandler issued their FY2020 earnings per share estimates for shares of First Busey in a research report issued on Tuesday, January 14th. Piper Sandler analyst A. Liesch forecasts that the bank will post earnings per share of $2.10 for the year.
Several other research analysts have also issued reports on BUSE. BidaskClub lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Friday, December 27th. DA Davidson reiterated a “buy” rating on shares of First Busey in a research report on Monday, November 18th. B. Riley upgraded shares of First Busey from a “neutral” rating to a “buy” rating and upped their target price for the stock from $27.00 to $29.00 in a research report on Thursday, January 9th. Finally, Zacks Investment Research lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Wednesday, January 1st. Two analysts have rated the stock with a sell rating, two have given a hold rating and two have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $29.00.
Shares of BUSE traded down $0.05 during mid-day trading on Friday, reaching $27.47. 1,141 shares of the stock traded hands, compared to its average volume of 97,819. The firm has a fifty day moving average price of $27.22 and a 200 day moving average price of $26.13. The company has a market cap of $1.51 billion, a price-to-earnings ratio of 13.08 and a beta of 0.98. The company has a current ratio of 0.88, a quick ratio of 0.87 and a debt-to-equity ratio of 0.22. First Busey has a 1 year low of $23.44 and a 1 year high of $28.00.
First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). First Busey had a net margin of 22.18% and a return on equity of 9.79%. The business had revenue of $104.41 million during the quarter, compared to analysts’ expectations of $103.17 million.
The business also recently announced a quarterly dividend, which will be paid on Friday, January 31st. Investors of record on Friday, January 24th will be given a $0.22 dividend. The ex-dividend date is Thursday, January 23rd. This is a positive change from First Busey’s previous quarterly dividend of $0.21. This represents a $0.88 annualized dividend and a yield of 3.20%. First Busey’s payout ratio is 40.00%.
A number of large investors have recently made changes to their positions in BUSE. US Bancorp DE lifted its position in First Busey by 5.8% during the second quarter. US Bancorp DE now owns 12,573 shares of the bank’s stock valued at $332,000 after purchasing an additional 689 shares during the period. California State Teachers Retirement System grew its position in First Busey by 1.0% during the 3rd quarter. California State Teachers Retirement System now owns 80,715 shares of the bank’s stock worth $2,040,000 after purchasing an additional 795 shares during the last quarter. Parametric Portfolio Associates LLC grew its position in First Busey by 1.1% during the 2nd quarter. Parametric Portfolio Associates LLC now owns 125,020 shares of the bank’s stock worth $3,302,000 after purchasing an additional 1,312 shares during the last quarter. Tower Research Capital LLC TRC purchased a new stake in First Busey during the 2nd quarter worth approximately $43,000. Finally, Envestnet Asset Management Inc. grew its position in First Busey by 9.4% during the 3rd quarter. Envestnet Asset Management Inc. now owns 37,961 shares of the bank’s stock worth $960,000 after purchasing an additional 3,274 shares during the last quarter. Institutional investors own 45.95% of the company’s stock.
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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