$82.39 Million in Sales Expected for First Busey Co. (BUSE) This Quarter

Wall Street brokerages predict that First Busey Co. (NASDAQ:BUSE) will announce sales of $82.39 million for the current quarter, Zacks Investment Research reports. Four analysts have issued estimates for First Busey’s earnings. The lowest sales estimate is $80.10 million and the highest is $83.89 million. First Busey reported sales of $63.64 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 29.5%. The firm is expected to issue its next quarterly earnings results on Thursday, January 25th.

On average, analysts expect that First Busey will report full year sales of $82.39 million for the current financial year, with estimates ranging from $271.70 million to $287.69 million. For the next financial year, analysts anticipate that the firm will report sales of $341.94 million per share, with estimates ranging from $329.90 million to $347.10 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow First Busey.

A number of analysts have recently issued reports on the stock. BidaskClub downgraded shares of First Busey from a “buy” rating to a “hold” rating in a report on Thursday, December 7th. ValuEngine downgraded shares of First Busey from a “buy” rating to a “hold” rating in a report on Friday, November 10th. Zacks Investment Research upgraded shares of First Busey from a “sell” rating to a “hold” rating in a report on Wednesday, November 1st. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $32.00 target price on shares of First Busey in a report on Thursday, October 26th. Finally, FBR & Co reiterated a “neutral” rating and issued a $34.00 target price (up previously from $32.00) on shares of First Busey in a report on Wednesday, October 25th. Six equities research analysts have rated the stock with a hold rating, The stock has an average rating of “Hold” and an average price target of $33.25.

In other First Busey news, Director George Barr sold 14,492 shares of the firm’s stock in a transaction that occurred on Monday, October 30th. The shares were sold at an average price of $31.30, for a total value of $453,599.60. Following the completion of the transaction, the director now owns 64,088 shares of the company’s stock, valued at approximately $2,005,954.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 9.60% of the stock is currently owned by company insiders.

A number of hedge funds have recently modified their holdings of the business. Dimensional Fund Advisors LP lifted its position in shares of First Busey by 2.2% during the 3rd quarter. Dimensional Fund Advisors LP now owns 1,823,493 shares of the bank’s stock worth $57,185,000 after purchasing an additional 38,805 shares during the last quarter. Vanguard Group Inc. lifted its position in First Busey by 1.3% in the second quarter. Vanguard Group Inc. now owns 1,476,846 shares of the bank’s stock valued at $43,301,000 after acquiring an additional 19,354 shares during the last quarter. Northern Trust Corp lifted its position in First Busey by 3.8% in the second quarter. Northern Trust Corp now owns 712,793 shares of the bank’s stock valued at $20,899,000 after acquiring an additional 26,024 shares during the last quarter. State Street Corp lifted its position in First Busey by 4.4% in the second quarter. State Street Corp now owns 585,996 shares of the bank’s stock valued at $17,184,000 after acquiring an additional 24,499 shares during the last quarter. Finally, Renaissance Technologies LLC lifted its position in First Busey by 17.5% in the second quarter. Renaissance Technologies LLC now owns 487,500 shares of the bank’s stock valued at $14,294,000 after acquiring an additional 72,600 shares during the last quarter. 46.09% of the stock is owned by institutional investors.

Shares of First Busey (NASDAQ:BUSE) opened at $30.95 on Friday. The stock has a market cap of $1,490.00, a P/E ratio of 20.36, a PEG ratio of 3.09 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.

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First Busey 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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Earnings History and Estimates for First Busey (NASDAQ:BUSE)

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