Equities Analysts Issue Forecasts for First Busey Co.’s Q2 2024 Earnings (NASDAQ:BUSE)

First Busey Co. (NASDAQ:BUSE) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for First Busey in a research report issued on Thursday, April 25th. DA Davidson analyst J. Rulis anticipates that the bank will post earnings of $0.46 per share for the quarter. The consensus estimate for First Busey’s current full-year earnings is $2.14 per share.

BUSE has been the topic of several other research reports. Stephens reissued an “overweight” rating and issued a $28.00 price objective on shares of First Busey in a research report on Wednesday. StockNews.com cut First Busey from a “hold” rating to a “sell” rating in a research report on Monday. One equities research analyst has rated the stock with a sell rating and four have given a buy rating to the company’s stock. Based on data from MarketBeat, First Busey has an average rating of “Moderate Buy” and an average price target of $25.75.

First Busey Stock Down 0.1 %

Shares of NASDAQ:BUSE opened at $23.09 on Friday. The stock has a market cap of $1.28 billion, a price-to-earnings ratio of 11.66 and a beta of 0.85. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.25. First Busey has a 12-month low of $16.26 and a 12-month high of $25.80. The business’s 50 day moving average is $23.06 and its 200 day moving average is $22.64.

First Busey (NASDAQ:BUSE) last released its quarterly earnings data on Tuesday, January 23rd. The bank reported $0.52 EPS for the quarter, beating the consensus estimate of $0.49 by $0.03. The firm had revenue of $108.65 million during the quarter, compared to the consensus estimate of $107.74 million. First Busey had a return on equity of 9.49% and a net margin of 18.08%.

First Busey Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 19th will be issued a $0.24 dividend. This represents a $0.96 annualized dividend and a yield of 4.16%. The ex-dividend date of this dividend is Thursday, April 18th. First Busey’s dividend payout ratio (DPR) is currently 48.48%.

Insider Activity at First Busey

In other First Busey news, Director Michael David Cassens sold 2,300 shares of the firm’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $23.02, for a total transaction of $52,946.00. Following the completion of the transaction, the director now owns 141,278 shares of the company’s stock, valued at $3,252,219.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, Director Karen M. Jensen purchased 2,000 shares of the stock in a transaction dated Friday, March 1st. The stock was purchased at an average price of $22.98 per share, with a total value of $45,960.00. Following the transaction, the director now directly owns 47,585 shares in the company, valued at $1,093,503.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Michael David Cassens sold 2,300 shares of First Busey stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $23.02, for a total value of $52,946.00. Following the completion of the transaction, the director now directly owns 141,278 shares of the company’s stock, valued at approximately $3,252,219.56. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 4,817 shares of company stock worth $114,780 and have sold 6,900 shares worth $157,182. 7.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On First Busey

A number of hedge funds have recently bought and sold shares of BUSE. Osborne Partners Capital Management LLC bought a new stake in shares of First Busey during the 4th quarter valued at about $11,053,000. Charles Schwab Investment Management Inc. grew its stake in shares of First Busey by 6.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 605,177 shares of the bank’s stock valued at $11,632,000 after purchasing an additional 34,034 shares during the period. Plancorp LLC grew its stake in shares of First Busey by 742.9% during the 3rd quarter. Plancorp LLC now owns 1,320,225 shares of the bank’s stock valued at $25,375,000 after purchasing an additional 1,163,596 shares during the period. Vanguard Group Inc. grew its stake in shares of First Busey by 0.9% during the 3rd quarter. Vanguard Group Inc. now owns 2,886,341 shares of the bank’s stock valued at $55,475,000 after purchasing an additional 26,829 shares during the period. Finally, Bank of New York Mellon Corp grew its stake in shares of First Busey by 1.3% during the 3rd quarter. Bank of New York Mellon Corp now owns 385,328 shares of the bank’s stock valued at $7,406,000 after purchasing an additional 5,025 shares during the period. Hedge funds and other institutional investors own 56.49% of the company’s stock.

About First Busey

First Busey Corporation operates as the bank holding company for Busey Bank that engages in the provision of retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States. It operates through three segments: Banking, Wealth Management, and FirsTech.