First Busey Co. (NASDAQ:BUSE) – Research analysts at B. Riley cut their Q1 2020 EPS estimates for First Busey in a note issued to investors on Thursday, July 11th. B. Riley analyst S. Moss now forecasts that the bank will post earnings per share of $0.53 for the quarter, down from their previous forecast of $0.54. B. Riley currently has a “Buy” rating on the stock.
First Busey (NASDAQ:BUSE) last released its quarterly earnings results on Tuesday, April 23rd. The bank reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $0.51 by ($0.03). The company had revenue of $94.33 million during the quarter, compared to the consensus estimate of $96.24 million. First Busey had a net margin of 25.94% and a return on equity of 10.23%.
Shares of First Busey stock opened at $26.52 on Friday. The stock has a market capitalization of $1.48 billion, a P/E ratio of 12.63, a PEG ratio of 2.07 and a beta of 0.99. First Busey has a 52 week low of $23.13 and a 52 week high of $32.89. The business has a 50 day moving average of $25.69. The company has a current ratio of 0.85, a quick ratio of 0.85 and a debt-to-equity ratio of 0.23.
The firm also recently disclosed a quarterly dividend, which will be paid on Friday, July 26th. Investors of record on Friday, July 19th will be given a $0.21 dividend. The ex-dividend date is Thursday, July 18th. This represents a $0.84 dividend on an annualized basis and a dividend yield of 3.17%. First Busey’s dividend payout ratio (DPR) is presently 40.00%.
In other news, Director Stanley J. Bradshaw purchased 1,183 shares of the stock in a transaction on Thursday, May 30th. The shares were acquired at an average price of $24.95 per share, for a total transaction of $29,515.85. Following the completion of the transaction, the director now directly owns 4,195 shares of the company’s stock, valued at approximately $104,665.25. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Thomas G. Sloan purchased 8,000 shares of the stock in a transaction on Tuesday, April 30th. The shares were purchased at an average price of $25.91 per share, for a total transaction of $207,280.00. Following the transaction, the director now directly owns 231,471 shares of the company’s stock, valued at $5,997,413.61. The disclosure for this purchase can be found here. Insiders purchased 69,955 shares of company stock worth $1,859,546 in the last quarter. 7.50% of the stock is currently owned by company insiders.
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. PNC Financial Services Group Inc. grew its stake in First Busey by 581.8% in the fourth quarter. PNC Financial Services Group Inc. now owns 11,842 shares of the bank’s stock valued at $292,000 after purchasing an additional 10,105 shares in the last quarter. California Public Employees Retirement System grew its stake in First Busey by 31.8% in the fourth quarter. California Public Employees Retirement System now owns 88,031 shares of the bank’s stock valued at $2,160,000 after purchasing an additional 21,232 shares in the last quarter. BlackRock Inc. grew its stake in First Busey by 11.1% in the fourth quarter. BlackRock Inc. now owns 3,301,566 shares of the bank’s stock valued at $81,019,000 after purchasing an additional 329,123 shares in the last quarter. Bank of New York Mellon Corp grew its stake in First Busey by 3.1% in the fourth quarter. Bank of New York Mellon Corp now owns 298,687 shares of the bank’s stock valued at $7,330,000 after purchasing an additional 9,114 shares in the last quarter. Finally, Citigroup Inc. grew its stake in First Busey by 166.5% in the fourth quarter. Citigroup Inc. now owns 9,248 shares of the bank’s stock valued at $227,000 after purchasing an additional 5,778 shares in the last quarter. Institutional investors and hedge funds own 45.88% 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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