First Busey Co. (NASDAQ:BUSE) – Equities researchers at FIG Partners issued their Q1 2019 EPS estimates for First Busey in a note issued to investors on Wednesday. FIG Partners analyst B. Martin forecasts that the bank will post earnings per share of $0.55 for the quarter. FIG Partners also issued estimates for First Busey’s Q2 2019 earnings at $0.59 EPS, Q3 2019 earnings at $0.62 EPS, Q4 2019 earnings at $0.64 EPS and FY2019 earnings at $2.40 EPS.
Other equities analysts also recently issued research reports about the company. Zacks Investment Research raised First Busey from a “hold” rating to a “buy” rating and set a $34.00 price target for the company in a research report on Monday, January 1st. B. Riley raised First Busey from a “neutral” rating to a “buy” rating and reduced their price target for the stock from $36.00 to $35.00 in a research report on Tuesday. BidaskClub raised First Busey from a “sell” rating to a “hold” rating in a research report on Monday. Piper Jaffray Companies reaffirmed a “hold” rating and set a $33.00 price target on shares of First Busey in a research report on Tuesday, January 9th. Finally, ValuEngine downgraded First Busey from a “buy” rating to a “hold” rating in a research report on Friday, November 10th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $33.60.
First Busey (NASDAQ:BUSE) last issued its quarterly earnings data on Tuesday, January 30th. The bank reported $0.41 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.05). First Busey had a net margin of 20.31% and a return on equity of 10.75%. The business had revenue of $86.61 million during the quarter, compared to analyst estimates of $82.39 million.
Several institutional investors have recently made changes to their positions in BUSE. 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 purchasing an additional 1,661 shares in the last quarter. Legal & General Group Plc raised its stake in shares of First Busey by 8.7% during the 2nd quarter. Legal & General Group Plc now owns 7,995 shares of the bank’s stock worth $235,000 after purchasing an additional 639 shares in the last quarter. Teachers Advisors LLC raised its stake in shares of First Busey by 12.0% during the 2nd quarter. Teachers Advisors LLC now owns 58,886 shares of the bank’s stock worth $1,727,000 after purchasing an additional 6,289 shares in the last quarter. TIAA CREF Investment Management LLC raised its stake in shares of First Busey by 33.5% during the 2nd quarter. TIAA CREF Investment Management LLC now owns 111,412 shares of the bank’s stock worth $3,267,000 after purchasing an additional 27,931 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its stake in shares of First Busey by 21.2% during the 2nd quarter. Ameriprise Financial Inc. now owns 259,767 shares of the bank’s stock worth $7,616,000 after purchasing an additional 45,513 shares in the last quarter. Institutional investors own 46.12% of the company’s stock.
The business also recently disclosed 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. The ex-dividend date was Thursday, January 25th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.70%. This is a boost from First Busey’s previous quarterly dividend of $0.18. First Busey’s dividend payout ratio is currently 54.05%.
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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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