Analysts Anticipate First Busey Co. (BUSE) Will Post Quarterly Sales of $84.52 Million

Wall Street analysts expect First Busey Co. (NASDAQ:BUSE) to post $84.52 million in sales for the current fiscal quarter, according to Zacks Investment Research. Five analysts have provided estimates for First Busey’s earnings, with the highest sales estimate coming in at $86.71 million and the lowest estimate coming in at $83.40 million. First Busey reported sales of $86.61 million during the same quarter last year, which would suggest a negative year-over-year growth rate of 2.4%. The firm is scheduled to issue its next quarterly earnings report on Tuesday, January 29th.

On average, analysts expect that First Busey will report full year sales of $333.47 million for the current year, with estimates ranging from $331.30 million to $336.83 million. For the next financial year, analysts forecast that the company will post sales of $417.45 million, with estimates ranging from $411.50 million to $429.80 million. Zacks’ sales calculations are a mean average based on a survey of analysts that cover First Busey.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, October 23rd. The bank reported $0.55 EPS for the quarter, meeting the Zacks’ consensus estimate of $0.55. First Busey had a net margin of 23.02% and a return on equity of 10.29%. The firm had revenue of $82.63 million for the quarter, compared to the consensus estimate of $85.16 million.

A number of brokerages recently commented on BUSE. BidaskClub downgraded shares of First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday. Piper Jaffray Companies set a $31.00 price objective on shares of First Busey and gave the company a “hold” rating in a research report on Wednesday, October 31st. B. Riley set a $36.00 price objective on shares of First Busey and gave the company a “buy” rating in a research report on Monday, October 15th. Finally, Zacks Investment Research downgraded shares of First Busey from a “hold” rating to a “sell” rating in a research report on Tuesday, September 25th. Two equities research analysts have rated the stock with a sell rating, two have given a hold rating and three have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $31.67.

BUSE traded down $1.73 on Tuesday, reaching $26.86. 136,700 shares of the company traded hands, compared to its average volume of 125,381. First Busey has a 52-week low of $26.61 and a 52-week high of $33.25. The company has a market capitalization of $1.40 billion, a PE ratio of 16.67, a PEG ratio of 2.26 and a beta of 1.00. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.86 and a current ratio of 0.87.

A number of institutional investors and hedge funds have recently made changes to their positions in BUSE. Virginia Retirement Systems ET AL bought a new stake in First Busey in the second quarter worth approximately $209,000. GSA Capital Partners LLP bought a new stake in First Busey in the third quarter worth approximately $249,000. Meeder Asset Management Inc. grew its position in First Busey by 131.1% in the third quarter. Meeder Asset Management Inc. now owns 8,068 shares of the bank’s stock worth $251,000 after acquiring an additional 4,577 shares in the last quarter. Quantitative Systematic Strategies LLC grew its position in First Busey by 35.4% in the second quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock worth $333,000 after acquiring an additional 2,747 shares in the last quarter. Finally, WINTON GROUP Ltd grew its position in First Busey by 45.1% in the third quarter. WINTON GROUP Ltd now owns 12,695 shares of the bank’s stock worth $394,000 after acquiring an additional 3,946 shares in the last quarter. 51.10% of the stock is currently owned by hedge funds and other institutional investors.

First Busey Company Profile

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

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