First Busey Co. (NASDAQ:BUSE) – Piper Jaffray Companies cut their FY2018 earnings per share (EPS) estimates for shares of First Busey in a report issued on Tuesday, October 30th. Piper Jaffray Companies analyst N. Race now expects that the bank will post earnings per share of $2.12 for the year, down from their previous estimate of $2.13. Piper Jaffray Companies has a “Hold” rating and a $31.00 price objective on the stock. Piper Jaffray Companies also issued estimates for First Busey’s Q4 2018 earnings at $0.54 EPS, Q1 2020 earnings at $0.61 EPS, Q2 2020 earnings at $0.63 EPS and Q3 2020 earnings at $0.63 EPS.
A number of other equities research analysts also recently weighed in on BUSE. Zacks Investment Research downgraded shares of First Busey from a “buy” rating to a “hold” rating in a research note on Tuesday. BidaskClub upgraded shares of First Busey from a “sell” rating to a “hold” rating in a research note on Tuesday. ValuEngine downgraded shares of First Busey from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Finally, FIG Partners restated an “outperform” rating on shares of First Busey in a research note on Wednesday, July 25th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and three have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus target price of $32.67.
First Busey (NASDAQ:BUSE) last posted its quarterly earnings results on Tuesday, October 23rd. The bank reported $0.55 earnings per share for the quarter, hitting the Zacks’ consensus estimate of $0.55. First Busey had a net margin of 23.02% and a return on equity of 10.36%. The firm had revenue of $82.63 million for the quarter, compared to the consensus estimate of $85.16 million.
The company also recently announced a quarterly dividend, which was paid on Friday, October 26th. Stockholders of record on Friday, October 19th were paid a $0.20 dividend. The ex-dividend date was Thursday, October 18th. This represents a $0.80 annualized dividend and a dividend yield of 2.87%. First Busey’s dividend payout ratio is presently 49.69%.
Several large investors have recently modified their holdings of BUSE. Virginia Retirement Systems ET AL acquired a new position in First Busey during the 2nd quarter worth about $209,000. Quantitative Systematic Strategies LLC lifted its position in First Busey by 35.4% during the 2nd quarter. Quantitative Systematic Strategies LLC now owns 10,500 shares of the bank’s stock worth $333,000 after buying an additional 2,747 shares in the last quarter. Xact Kapitalforvaltning AB lifted its position in First Busey by 67.5% during the 1st quarter. Xact Kapitalforvaltning AB now owns 13,395 shares of the bank’s stock worth $398,000 after buying an additional 5,400 shares in the last quarter. Emerald Investment Partners LLC lifted its position in First Busey by 44.9% during the 2nd quarter. Emerald Investment Partners LLC now owns 13,474 shares of the bank’s stock worth $427,000 after buying an additional 4,178 shares in the last quarter. Finally, Metropolitan Life Insurance Co. NY lifted its position in First Busey by 16.8% during the 2nd quarter. Metropolitan Life Insurance Co. NY now owns 15,315 shares of the bank’s stock worth $486,000 after buying an additional 2,205 shares in the last quarter. Institutional investors own 51.71% of the company’s stock.
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.
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