First Busey (NASDAQ:BUSE) Issues Earnings Results

First Busey (NASDAQ:BUSE - Get Free Report) released its earnings results on Tuesday. The bank reported $0.58 earnings per share for the quarter, topping analysts' consensus estimates of $0.54 by $0.04, Yahoo Finance reports. First Busey had a return on equity of 9.10% and a net margin of 17.18%. The company had revenue of $170.45 million during the quarter, compared to the consensus estimate of $118.32 million. During the same quarter in the previous year, the company posted $0.55 earnings per share.

First Busey Trading Down 0.6 %

NASDAQ:BUSE traded down $0.14 during trading hours on Wednesday, hitting $24.69. The stock had a trading volume of 382,366 shares, compared to its average volume of 222,012. The business's 50 day moving average is $25.95 and its 200-day moving average is $24.59. The company has a debt-to-equity ratio of 0.23, a quick ratio of 0.81 and a current ratio of 0.81. The company has a market cap of $1.40 billion, a price-to-earnings ratio of 12.47 and a beta of 0.84. First Busey has a one year low of $17.51 and a one year high of $28.97.

First Busey Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Friday, October 25th. Investors of record on Friday, October 18th will be paid a dividend of $0.24 per share. This represents a $0.96 annualized dividend and a yield of 3.89%. The ex-dividend date is Friday, October 18th. First Busey's payout ratio is 48.48%.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on BUSE. Stephens cut First Busey from an "overweight" rating to an "equal weight" rating and dropped their price objective for the stock from $28.00 to $27.00 in a report on Monday, October 14th. StockNews.com upgraded shares of First Busey from a "sell" rating to a "hold" rating in a research report on Thursday, September 12th. Keefe, Bruyette & Woods increased their price objective on shares of First Busey from $31.00 to $33.00 and gave the company an "outperform" rating in a report on Wednesday, August 28th. Finally, DA Davidson lifted their target price on shares of First Busey from $28.00 to $29.00 and gave the stock a "neutral" rating in a report on Wednesday, August 28th. Three investment analysts have rated the stock with a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $27.80.

First Busey Company Profile

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.