$84.98 Million in Sales Expected for First Busey Co. (BUSE) This Quarter
Analysts forecast that First Busey Co. (NASDAQ:BUSE) will announce $84.98 million in sales for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued 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 during the same quarter last year, which would indicate a positive year over year growth rate of 37%. The business is scheduled 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 fiscal year, with estimates ranging from $344.95 million to $351.30 million. For the next year, analysts forecast that the company will post 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 analysts that cover First Busey.
First Busey (NASDAQ:BUSE) last issued its earnings results on Tuesday, January 30th. The bank reported $0.41 EPS for the quarter, missing the consensus estimate of $0.46 by ($0.05). The company had revenue of $86.61 million for the quarter, compared to analysts’ expectations of $82.39 million. First Busey had a return on equity of 10.75% and a net margin of 20.31%.
Shares of First Busey (BUSE) traded up $0.53 during midday trading on Tuesday, hitting $30.92. 94,749 shares of the company’s stock traded hands, compared to its average volume of 141,324. The stock has a market cap of $1,505.34, a price-to-earnings ratio of 20.89, a P/E/G ratio of 2.27 and a beta of 1.03. First Busey has a 52 week low of $27.33 and a 52 week high of $32.88. The company has a quick ratio of 0.90, a current ratio of 0.93 and a debt-to-equity ratio of 0.27.
The company also recently declared a quarterly dividend, which was paid on Friday, February 2nd. Stockholders of record on Friday, January 26th were paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.59%. The ex-dividend date was Thursday, January 25th. This is an increase from First Busey’s previous quarterly dividend of $0.18. First Busey’s payout ratio is 54.05%.
Several large investors have recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company raised its stake in shares of First Busey by 3.3% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 24,480 shares of the bank’s stock worth $718,000 after buying an additional 787 shares during the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of First Busey by 1.1% during the 2nd quarter. Schwab Charles Investment Management Inc. now owns 155,566 shares of the bank’s stock worth $4,562,000 after buying an additional 1,661 shares during the last quarter. Legal & General Group Plc raised its stake in shares of First Busey by 24.0% during the 3rd quarter. Legal & General Group Plc now owns 9,913 shares of the bank’s stock worth $311,000 after buying an additional 1,918 shares during the last quarter. American International Group Inc. raised its stake in shares of First Busey by 7.9% during the 4th quarter. American International Group Inc. now owns 27,442 shares of the bank’s stock worth $822,000 after buying an additional 2,005 shares during the last quarter. Finally, Citigroup Inc. raised its stake in shares of First Busey by 45.5% during the 2nd 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. 45.94% of the stock is owned by institutional investors and hedge funds.
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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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