First Busey (NASDAQ:BUSE) Releases Quarterly Earnings Results, Misses Expectations By $0.07 EPS

First Busey (NASDAQ:BUSE) issued its quarterly earnings data on Tuesday. The bank reported $0.45 earnings per share for the quarter, missing the consensus estimate of $0.52 by ($0.07), Fidelity Earnings reports. First Busey had a return on equity of 9.98% and a net margin of 22.18%. The business had revenue of $104.41 million during the quarter, compared to the consensus estimate of $103.17 million.

Shares of BUSE opened at $26.06 on Friday. The company has a current ratio of 0.86, a quick ratio of 0.86 and a debt-to-equity ratio of 0.22. The stock has a market capitalization of $1.45 billion, a P/E ratio of 12.41, a price-to-earnings-growth ratio of 2.10 and a beta of 1.01. The firm’s fifty day simple moving average is $25.24 and its two-hundred day simple moving average is $25.54. First Busey has a 12 month low of $23.13 and a 12 month high of $28.98.

The company also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 18th will be given a dividend of $0.21 per share. The ex-dividend date is Thursday, October 17th. This represents a $0.84 dividend on an annualized basis and a yield of 3.22%. First Busey’s dividend payout ratio (DPR) is currently 40.00%.

In other news, Director David J. Downey purchased 7,500 shares of the business’s stock in a transaction on Tuesday, August 27th. The shares were acquired at an average price of $24.06 per share, with a total value of $180,450.00. Following the completion of the transaction, the director now owns 189,949 shares of the company’s stock, valued at approximately $4,570,172.94. The purchase was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 7.50% of the company’s stock.

Several analysts recently weighed in on BUSE shares. ValuEngine raised shares of First Busey from a “sell” rating to a “hold” rating in a research note on Thursday, August 1st. B. Riley reduced their price objective on shares of First Busey from $28.00 to $27.00 and set a “neutral” rating on the stock in a research note on Friday, October 4th. BidaskClub raised shares of First Busey from a “sell” rating to a “hold” rating in a research note on Wednesday. Zacks Investment Research cut shares of First Busey from a “hold” rating to a “sell” rating in a research note on Monday, October 14th. Finally, Stephens cut shares of First Busey from an “overweight” rating to an “equal weight” rating and reduced their price objective for the stock from $30.00 to $29.00 in a research note on Tuesday, July 9th. One equities research analyst has rated the stock with a sell rating and five have assigned a hold rating to the stock. First Busey has an average rating of “Hold” and an average target price of $29.00.

About First Busey

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.

See Also: Retained Earnings

Earnings History for First Busey (NASDAQ:BUSE)

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