Brokerages expect that First Busey Co. (NASDAQ:BUSE) will announce sales of $102.91 million for the current quarter, according to Zacks. Three analysts have made estimates for First Busey’s earnings. The lowest sales estimate is $102.40 million and the highest is $103.23 million. First Busey reported sales of $83.36 million in the same quarter last year, which indicates a positive year over year growth rate of 23.5%. The company is scheduled to report its next quarterly earnings report on Tuesday, February 4th.
According to Zacks, analysts expect that First Busey will report full-year sales of $404.07 million for the current financial year, with estimates ranging from $403.00 million to $405.50 million. For the next year, analysts forecast that the business will report sales of $409.31 million, with estimates ranging from $407.10 million to $411.90 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover First Busey.
First Busey (NASDAQ:BUSE) last posted its earnings results on Tuesday, October 22nd. The bank reported $0.45 earnings per share for the quarter, missing analysts’ consensus estimates of $0.52 by ($0.07). The company had revenue of $104.41 million for the quarter, compared to analysts’ expectations of $103.17 million. First Busey had a return on equity of 9.79% and a net margin of 22.18%.
A number of equities research analysts recently weighed in on the company. DA Davidson restated a “buy” rating on shares of First Busey in a research note on Monday, November 18th. BidaskClub upgraded First Busey from a “sell” rating to a “hold” rating in a research note on Wednesday, October 23rd. B. Riley reduced their target price on shares of First Busey from $28.00 to $27.00 and set a “neutral” rating for the company in a report on Friday, October 4th. Finally, lowered shares of First Busey from a “hold” rating to a “sell” rating in a research report on Monday, October 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and one has given a buy rating to the company. First Busey currently has a consensus rating of “Hold” and an average target price of $28.33.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Tower Research Capital LLC TRC acquired a new stake in shares of First Busey in the 2nd quarter worth $43,000. Quantamental Technologies LLC purchased a new stake in First Busey in the second quarter valued at about $52,000. A.R.T. Advisors LLC acquired a new stake in First Busey in the second quarter worth about $210,000. Meeder Asset Management Inc. boosted its holdings in First Busey by 12.2% in the second quarter. Meeder Asset Management Inc. now owns 9,756 shares of the bank’s stock worth $258,000 after acquiring an additional 1,062 shares in the last quarter. Finally, Strs Ohio grew its stake in shares of First Busey by 7.6% during the second quarter. Strs Ohio now owns 9,900 shares of the bank’s stock worth $261,000 after acquiring an additional 700 shares during the last quarter. 45.95% of the stock is currently owned by institutional investors and hedge funds.
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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