Q4 Earnings Forecast for First Busey Issued By DA Davidson

First Busey Co. (NASDAQ:BUSE) – DA Davidson issued their Q4 2024 earnings per share (EPS) estimates for First Busey in a report released on Thursday, October 24th. DA Davidson analyst J. Rulis forecasts that the bank will earn $0.52 per share for the quarter. DA Davidson currently has a “Neutral” rating and a $29.00 target price on the stock. The consensus estimate for First Busey’s current full-year earnings is $2.05 per share. DA Davidson also issued estimates for First Busey’s FY2025 earnings at $2.40 EPS.

First Busey (NASDAQ:BUSE) last announced its quarterly earnings data on Tuesday, October 22nd. The bank reported $0.58 EPS for the quarter, topping analysts’ consensus estimates of $0.54 by $0.04. First Busey had a net margin of 17.18% and a return on equity of 9.10%. 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 prior year, the firm earned $0.55 EPS.

Other research analysts have also issued research reports about the company. StockNews.com raised First Busey from a “sell” rating to a “hold” rating in a report on Thursday, September 12th. Keefe, Bruyette & Woods upped their price target on First Busey from $31.00 to $33.00 and gave the stock an “outperform” rating in a report on Wednesday, August 28th. Finally, Stephens lowered First Busey from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $28.00 to $27.00 in a report on Monday, October 14th. Three analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, First Busey has an average rating of “Moderate Buy” and a consensus target price of $27.80.

First Busey Stock Performance

Shares of BUSE stock opened at $24.55 on Friday. The company has a current ratio of 0.81, a quick ratio of 0.81 and a debt-to-equity ratio of 0.23. The stock has a 50 day simple moving average of $25.94 and a 200-day simple moving average of $24.59. The company has a market cap of $1.39 billion, a price-to-earnings ratio of 12.40 and a beta of 0.84. First Busey has a 12-month low of $17.51 and a 12-month high of $28.97.

Hedge Funds Weigh In On First Busey

Several large investors have recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of First Busey by 1.4% during the 2nd quarter. Rhumbline Advisers now owns 87,257 shares of the bank’s stock valued at $2,113,000 after buying an additional 1,164 shares during the period. Inspire Investing LLC increased its holdings in First Busey by 8.8% in the 3rd quarter. Inspire Investing LLC now owns 15,889 shares of the bank’s stock valued at $413,000 after purchasing an additional 1,286 shares in the last quarter. Innealta Capital LLC purchased a new position in First Busey in the second quarter valued at about $34,000. Signaturefd LLC lifted its stake in shares of First Busey by 257.4% during the second quarter. Signaturefd LLC now owns 1,998 shares of the bank’s stock worth $48,000 after purchasing an additional 1,439 shares in the last quarter. Finally, Arizona State Retirement System grew its stake in shares of First Busey by 10.0% in the second quarter. Arizona State Retirement System now owns 15,866 shares of the bank’s stock valued at $384,000 after buying an additional 1,439 shares in the last quarter. 56.49% of the stock is currently owned by hedge funds and other institutional investors.

First Busey Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, October 25th. Shareholders of record on Friday, October 18th will be paid a dividend of $0.24 per share. This represents a $0.96 dividend on an annualized basis and a dividend yield of 3.91%. The ex-dividend date is Friday, October 18th. First Busey’s dividend payout ratio is presently 48.48%.

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.