Analysts Offer Predictions for First Busey Co.’s Q2 2024 Earnings (NASDAQ:BUSE)

First Busey Co. (NASDAQ:BUSE) – Research analysts at DA Davidson issued their Q2 2024 earnings estimates for shares of First Busey in a research note issued to investors on Thursday, April 25th. DA Davidson analyst J. Rulis expects that the bank will post earnings per share of $0.46 for the quarter. The consensus estimate for First Busey’s current full-year earnings is $2.14 per share.

BUSE has been the subject of several other reports. StockNews.com cut First Busey from a “hold” rating to a “sell” rating in a report on Monday, April 22nd. Stephens reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of First Busey in a research note on Wednesday. One analyst has rated the stock with a sell rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Busey currently has a consensus rating of “Moderate Buy” and a consensus target price of $25.75.

First Busey Stock Down 1.3 %

Shares of NASDAQ:BUSE opened at $22.80 on Friday. The business’s 50 day moving average is $23.05 and its 200 day moving average is $22.67. The stock has a market cap of $1.26 billion, a P/E ratio of 11.52 and a beta of 0.85. First Busey has a 52-week low of $16.26 and a 52-week high of $25.80. The company has a quick ratio of 0.79, a current ratio of 0.79 and a debt-to-equity ratio of 0.25.

Institutional Investors Weigh In On First Busey

Several institutional investors have recently added to or reduced their stakes in BUSE. Plancorp LLC lifted its stake in shares of First Busey by 742.9% during the third quarter. Plancorp LLC now owns 1,320,225 shares of the bank’s stock worth $25,375,000 after buying an additional 1,163,596 shares during the period. Osborne Partners Capital Management LLC acquired a new stake in First Busey during the 4th quarter worth about $11,053,000. Cozad Asset Management Inc. grew its stake in First Busey by 565.7% during the 4th quarter. Cozad Asset Management Inc. now owns 402,097 shares of the bank’s stock valued at $9,980,000 after purchasing an additional 341,692 shares during the last quarter. American Century Companies Inc. increased its holdings in shares of First Busey by 14.6% in the third quarter. American Century Companies Inc. now owns 523,703 shares of the bank’s stock valued at $10,066,000 after purchasing an additional 66,588 shares during the period. Finally, Wellington Management Group LLP raised its stake in shares of First Busey by 3.8% in the fourth quarter. Wellington Management Group LLP now owns 1,552,667 shares of the bank’s stock worth $38,537,000 after purchasing an additional 57,392 shares during the last quarter. Institutional investors and hedge funds own 56.49% of the company’s stock.

Insider Transactions at First Busey

In other First Busey news, Director Michael David Cassens sold 2,300 shares of the stock in a transaction dated Monday, April 15th. The shares were sold at an average price of $22.36, for a total transaction of $51,428.00. Following the completion of the sale, the director now directly owns 139,804 shares of the company’s stock, valued at $3,126,017.44. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other news, Director Michael David Cassens sold 2,300 shares of the company’s stock in a transaction on Monday, April 15th. The stock was sold at an average price of $22.36, for a total transaction of $51,428.00. Following the transaction, the director now directly owns 139,804 shares of the company’s stock, valued at $3,126,017.44. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Karen M. Jensen acquired 2,500 shares of the stock in a transaction dated Monday, January 29th. The stock was acquired at an average cost of $24.40 per share, with a total value of $61,000.00. Following the transaction, the director now directly owns 45,585 shares in the company, valued at $1,112,274. The disclosure for this purchase can be found here. In the last three months, insiders purchased 4,817 shares of company stock valued at $114,780 and sold 6,900 shares valued at $157,182. Corporate insiders own 7.10% of the company’s stock.

First Busey Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, April 26th. Stockholders of record on Friday, April 19th were issued a $0.24 dividend. The ex-dividend date was Thursday, April 18th. This represents a $0.96 dividend on an annualized basis and a dividend yield of 4.21%. First Busey’s dividend payout ratio is presently 48.48%.

About First Busey

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.