Brokers Set Expectations for First Busey Co.’s FY2018 Earnings (BUSE)
First Busey Co. (NASDAQ:BUSE) – Research analysts at B. Riley raised their FY2018 earnings estimates for First Busey in a research note issued to investors on Thursday. B. Riley analyst S. Moss now forecasts that the bank will post earnings per share of $2.40 for the year, up from their prior forecast of $2.05. B. Riley also issued estimates for First Busey’s FY2019 earnings at $2.50 EPS.
First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, October 24th. The bank reported $0.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.46 by ($0.01). First Busey had a return on equity of 10.42% and a net margin of 22.02%.
First Busey (NASDAQ:BUSE) traded down $0.05 on Monday, hitting $32.18. The company had a trading volume of 108,900 shares, compared to its average volume of 211,211. The firm has a market cap of $1,565.06, a PE ratio of 21.03, a P/E/G ratio of 2.42 and a beta of 0.98. The company has a current ratio of 0.93, a quick ratio of 0.90 and a debt-to-equity ratio of 0.27. First Busey has a 1-year low of $27.33 and a 1-year high of $32.88.
In other First Busey news, Director George Barr sold 1,665 shares of the stock in a transaction on Friday, October 27th. The stock was sold at an average price of $32.25, for a total transaction of $53,696.25. Following the sale, the director now owns 64,088 shares in the company, valued at approximately $2,066,838. The sale was disclosed in a legal filing with the SEC, which is available through this link. 9.60% of the stock is currently owned by corporate insiders.
Large investors have recently made changes to their positions in the business. Nordea Investment Management AB grew its holdings in First Busey by 2.8% during the 3rd quarter. Nordea Investment Management AB now owns 186,466 shares of the bank’s stock valued at $5,848,000 after buying an additional 5,000 shares during the last quarter. Vanguard Group Inc. grew its holdings in First Busey by 1.3% during the 2nd quarter. Vanguard Group Inc. now owns 1,476,846 shares of the bank’s stock valued at $43,301,000 after buying an additional 19,354 shares during the last quarter. TIAA CREF Investment Management LLC grew its holdings in First Busey by 33.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 111,412 shares of the bank’s stock valued at $3,267,000 after buying an additional 27,931 shares during the last quarter. Prudential Financial Inc. grew its holdings in First Busey by 57.3% during the 3rd quarter. Prudential Financial Inc. now owns 41,354 shares of the bank’s stock valued at $1,297,000 after buying an additional 15,069 shares during the last quarter. Finally, First Midwest Bank Trust Division acquired a new stake in First Busey during the 3rd quarter valued at $324,000. Hedge funds and other institutional investors own 46.09% of the company’s stock.
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About First Busey
First Busey Corporation (First Busey) is a financial holding company. The Company offers a range of financial services through its banking and non-banking subsidiaries. The Company operates through three segments: Banking, Remittance Processing and Wealth Management. The Banking segment provides a range of banking services to individual and corporate customers through its branch network in downstate Illinois, St.
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