First Busey Co. (BUSE) Expected to Post Quarterly Sales of $84.98 Million
Analysts predict that First Busey Co. (NASDAQ:BUSE) will report sales of $84.98 million for the current fiscal quarter, according to Zacks. Four analysts have provided estimates for First Busey’s earnings, with the lowest sales estimate coming in at $83.80 million and the highest estimate coming in at $86.00 million. First Busey posted sales of $62.03 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 37%. The company is expected to issue its next quarterly earnings report on Tuesday, April 24th.
According to Zacks, analysts expect that First Busey will report full-year sales of $84.98 million for the current year, with estimates ranging from $344.95 million to $351.30 million. For the next financial year, analysts forecast that the company will report sales of $361.84 million per share, with estimates ranging from $358.47 million to $363.80 million. Zacks’ sales averages are a mean average based on a survey of sell-side research firms that that provide coverage for First Busey.
First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.05). First Busey had a net margin of 20.31% and a return on equity of 10.75%. The firm had revenue of $86.61 million during the quarter, compared to analyst estimates of $82.39 million.
First Busey (BUSE) opened at $29.60 on Tuesday. The stock has a market capitalization of $1,444.48, a P/E ratio of 17.45, a P/E/G ratio of 2.22 and a beta of 1.03. 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.
The business also recently announced a quarterly dividend, which was paid on Friday, February 2nd. Investors of record on Friday, January 26th were given a dividend of $0.20 per share. This is a boost from First Busey’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Thursday, January 25th. This represents a $0.80 annualized dividend and a dividend yield of 2.70%. First Busey’s payout ratio is presently 54.05%.
Large investors have recently made changes to their positions in the stock. Meeder Asset Management Inc. boosted its position in shares of First Busey by 143.6% during the third quarter. Meeder Asset Management Inc. now owns 5,998 shares of the bank’s stock valued at $188,000 after buying an additional 3,536 shares during the last quarter. Citigroup Inc. lifted its holdings in First Busey by 45.5% during the second quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock worth $188,000 after acquiring an additional 2,009 shares during the period. Magnetar Financial LLC bought a new stake in First Busey during the third quarter worth $204,000. Vestor Capital LLC bought a new stake in First Busey during the third quarter worth $224,000. Finally, Legal & General Group Plc lifted its holdings in First Busey by 24.0% during the third quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock worth $311,000 after acquiring an additional 1,918 shares during the period. 45.94% of the stock is currently owned by institutional investors.
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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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