Zacks: Brokerages Expect First Busey Corporation (BUSE) Will Post Quarterly Sales of $77.04 Million
Equities research analysts expect First Busey Corporation (NASDAQ:BUSE) to announce $77.04 million in sales for the current quarter, Zacks reports. Four analysts have made estimates for First Busey Corporation’s earnings, with estimates ranging from $75.81 million to $79.40 million. First Busey Corporation reported sales of $64.88 million during the same quarter last year, which would suggest a positive year over year growth rate of 18.7%. The company is expected to issue its next earnings report on Tuesday, October 24th.
According to Zacks, analysts expect that First Busey Corporation will report full-year sales of $77.04 million for the current financial year, with estimates ranging from $281.44 million to $291.40 million. For the next year, analysts expect that the company will post sales of $344.64 million per share, with estimates ranging from $335.91 million to $353.30 million. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that that provide coverage for First Busey Corporation.
First Busey Corporation (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, July 25th. The bank reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.42 by $0.01. The business had revenue of $62.43 million for the quarter, compared to analysts’ expectations of $63.40 million. First Busey Corporation had a return on equity of 10.59% and a net margin of 22.04%.
BUSE has been the subject of a number of research reports. ValuEngine raised shares of First Busey Corporation from a “hold” rating to a “buy” rating in a research report on Friday, June 2nd. Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $31.00 price target on shares of First Busey Corporation in a research report on Friday, May 26th. Zacks Investment Research raised shares of First Busey Corporation from a “sell” rating to a “hold” rating in a research report on Monday, July 3rd. Piper Jaffray Companies set a $32.00 price target on shares of First Busey Corporation and gave the stock a “hold” rating in a research report on Tuesday, July 25th. Finally, BidaskClub raised shares of First Busey Corporation from a “sell” rating to a “hold” rating in a research report on Saturday, June 10th. Two investment analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the stock. The company has an average rating of “Hold” and an average target price of $32.00.
In related news, insider Curt A. Anderson sold 1,400 shares of the company’s stock in a transaction on Wednesday, August 2nd. The shares were sold at an average price of $29.40, for a total transaction of $41,160.00. Following the completion of the sale, the insider now directly owns 43,482 shares of the company’s stock, valued at approximately $1,278,370.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 9.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently made changes to their positions in BUSE. BNP Paribas Arbitrage SA boosted its stake in shares of First Busey Corporation by 799.2% in the second quarter. BNP Paribas Arbitrage SA now owns 4,460 shares of the bank’s stock worth $131,000 after buying an additional 3,964 shares during the period. US Bancorp DE boosted its position in First Busey Corporation by 5.5% in the first quarter. US Bancorp DE now owns 4,928 shares of the bank’s stock worth $145,000 after buying an additional 255 shares during the last quarter. Citigroup Inc. boosted its position in First Busey Corporation by 45.5% in the second quarter. Citigroup Inc. now owns 6,422 shares of the bank’s stock worth $188,000 after buying an additional 2,009 shares during the last quarter. Robeco Institutional Asset Management B.V. purchased a new position in First Busey Corporation during the second quarter worth $208,000. Finally, Victory Capital Management Inc. boosted its position in First Busey Corporation by 17.6% in the second quarter. Victory Capital Management Inc. now owns 7,608 shares of the bank’s stock worth $223,000 after buying an additional 1,139 shares during the last quarter. 45.58% of the stock is owned by hedge funds and other institutional investors.
Shares of First Busey Corporation (NASDAQ BUSE) opened at 28.88 on Friday. The firm has a market capitalization of $1.31 billion, a PE ratio of 19.10 and a beta of 0.99. First Busey Corporation has a 52 week low of $21.80 and a 52 week high of $32.22. The stock has a 50 day moving average price of $29.05 and a 200 day moving average price of $29.50.
First Busey Corporation Company Profile
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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