First Busey Corp
BUSE

$28.41

0.39%

Market Cap: 1.61B

About: First Busey Corporation is a financial holding company, whose subsidiaries provides retail and commercial banking services, remittance processing, and offers financial products and services with banking centers in Illinois, Missouri, Florida, and Indiana. The company's operations are managed through three operating segments consisting of Banking, FirsTech, and Wealth Management. The banking segment generates a vast majority of its revenue.

Employees: 1,522

Financials State Commercial Banks

0

Funds holding %

of 6,702 funds

–

Analysts bullish %

0

News positive %

of 3 articles

Fund manager confidence

Based on 2024 Q1 SEC filings by fund managers ($100M+ AUM)

56% more first-time investments, than exits

New positions opened: 14 | Existing positions closed: 9

12% more repeat investments, than reductions

Existing positions increased: 55 | Existing positions reduced: 49

3% more funds holding

Funds holding: 149 [Q4 2023] → 154 (+5) [Q1 2024]

1.3% more ownership

Funds ownership: 56.4% [Q4 2023] → 57.71% (+1.3%) [Q1 2024]

1% less capital invested

Capital invested by funds: $774M [Q4 2023] → $767M (-$6.96M) [Q1 2024]

See Fund Rankings

Research analyst outlook

2 Wall Street Analysts provided 1 year price forecasts over the past 6 months

Low target

$28

1%

downside

Avg. target

$30

4%

upside

High target

$31

9%

upside

2 analyst ratings

2 positive

100%

0 neutral

0%

0 negative

0%

Keefe, Bruyette & Woods Damon Delmonte	9%upside $31	Outperform Reiterated	25 Jul 2024
Stephens & Co. Terry McEvoy	1%downside $28	Overweight Reiterated	24 Apr 2024

See Analyst Rankings

Financial journalist opinion

Based on 3 articles about BUSE published over the past 30 days

Zacks Investment Research

First Busey (BUSE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Although the revenue and EPS for First Busey (BUSE) give a sense of how its business performed in the quarter ended June 2024, it might be worth considering how some key metrics compare with Wall Street estimates and the year-ago numbers.

First Busey (BUSE) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Zacks Investment Research

First Busey (BUSE) Q2 Earnings Surpass Estimates

First Busey (BUSE) came out with quarterly earnings of $0.50 per share, beating the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.52 per share a year ago.

First Busey (BUSE) Q2 Earnings Surpass Estimates

First Busey Corporation Announces 2024 Second Quarter Earnings

CHAMPAIGN, Il., July 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (Nasdaq: BUSE) Net Income of $27.4 million Diluted EPS of $0.47 SECOND QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $29.0 million, or $0.50 per diluted common share Net interest margin1 increased by 24 basis points to 3.03% from 2.79% in the prior quarter Noninterest income of $33.8 million, and adjusted noninterest income1 of $33.9 million, or 29.1% of operating revenue1 Record high quarterly revenue for both the Wealth Management and FirsTech operating segments Finalized the acquisition of Merchants & Manufacturers Bank Corporation (“M&M”) and its wholly owned subsidiary Merchants & Manufacturers Bank (“M&M Bank”) on April 1, 2024, and completed the integration of M&M Bank into Busey Bank on June 21, 2024 Tangible book value per common share1 of $16.97 at June 30, 2024, compared to $16.84 at March 31, 2024, and $15.25 at June 30, 2023, a year-over-year increase of 11.3% Tangible common equity1 increased to 8.36% of tangible assets at June 30, 2024, compared to 8.12% at March 31, 2024, and 7.18% at June 30, 2023 For additional information, please refer to the 2Q24 Earnings Investor Presentation.

First Busey Corporation Announces 2024 Second Quarter Earnings

Zacks Investment Research

First Busey (BUSE) Reports Q1 Earnings: What Key Metrics Have to Say

The headline numbers for First Busey (BUSE) give insight into how the company performed in the quarter ended March 2024, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

First Busey (BUSE) Reports Q1 Earnings: What Key Metrics Have to Say

Zacks Investment Research

First Busey (BUSE) Misses Q1 Earnings Estimates

First Busey (BUSE) came out with quarterly earnings of $0.47 per share, missing the Zacks Consensus Estimate of $0.49 per share. This compares to earnings of $0.65 per share a year ago.

First Busey (BUSE) Misses Q1 Earnings Estimates

First Busey Corporation Announces 2024 First Quarter Earnings

CHAMPAIGN, Ill., April 23, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (Nasdaq: BUSE) Net Income of $26.2 million Diluted EPS of $0.46 FIRST QUARTER 2024 HIGHLIGHTS Adjusted net income1 of $26.5 million, or $0.47 per diluted common share Net interest margin1 increased by 5 basis points during the first quarter of 2024 to 2.79% Executed a two-part balance sheet repositioning expected to be both capital and earnings accretive Adjusted noninterest income1 of $33.9 million, or 30.9% of operating revenue2 Record high revenue for FirsTech during the first quarter of 2024, and second-best quarter in Wealth Management division history Received regulatory and shareholder approvals needed to finalize the acquisition of Merchants & Manufacturers Bank Corporation and its wholly owned subsidiary Merchants & Manufacturers Bank, which was completed on April 1, 2024 Tangible book value per common share1 of $16.84 at March 31, 2024, compared to $16.62 at December 31, 2023, and $15.14 at March 31, 2023, a year-over-year increase of 11.2% Tangible common equity1 increased to 8.12% of tangible assets at March 31, 2024, compared to 7.75% at December 31, 2023, and 7.05% at March 31, 2023 For additional information, please refer to the 1Q24 Earnings Investor Presentation MESSAGE FROM OUR CHAIRMAN & CEO First Quarter Financial Results Net income for First Busey Corporation (“Busey,” “Company,” “we,” “us,” or “our”) was $26.2 million for the first quarter of 2024, or $0.46 per diluted common share, compared to $25.7 million, or $0.46 per diluted common share, for the fourth quarter of 2023, and $36.8 million, or $0.65 per diluted common share, for the first quarter of 2023.

First Busey Corporation Announces 2024 First Quarter Earnings

Zacks Investment Research

First Busey (BUSE) Closes Merchants and Manufacturers Bank Buyout

First Busey (BUSE) buys Merchants and Manufacturers Bank. The deal is set to aid geographical expansion, increase the deposit balance, and expand the commercial banking and wealth management businesses.

First Busey (BUSE) Closes Merchants and Manufacturers Bank Buyout

First Busey Corporation Finalizes Acquisition of Merchants and Manufacturers Bank Corporation and Merchants and Manufacturers Bank

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., April 01, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ: BUSE), the holding company for Busey Bank, announced the completion of its acquisition of Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), effective April 1, 2024. The transaction was previously announced on November 27, 2023.

First Busey Corporation Finalizes Acquisition of Merchants and Manufacturers Bank Corporation and Merchants and Manufacturers Bank

First Busey Corporation and Merchants and Manufacturers Bank Corporation Announce Election Deadline

CHAMPAIGN, Ill. and OAKBROOK TERRACE, Ill., March 26, 2024 (GLOBE NEWSWIRE) -- First Busey Corporation (“Busey”) (NASDAQ:BUSE), the holding company for Busey Bank, and Merchants and Manufacturers Bank Corporation (“M&M”), the holding company for Merchants and Manufacturers Bank (“M&M Bank”), today jointly announced that the election deadline for M&M shareholders of record to make merger consideration elections in connection with the previously announced merger between Busey and M&M is 5:00 p.m., Eastern Standard Time, on March 29, 2024. M&M shareholders may elect to receive either $117.74 in cash, 5.7294 shares of Busey common stock, or mixed consideration of $34.55 in cash and 4.0481 shares of Busey common stock, in exchange for each share of M&M common stock owned, subject to adjustment and proration as provided in the merger agreement.

First Busey Corporation and Merchants and Manufacturers Bank Corporation Announce Election Deadline

Zacks Investment Research

Compared to Estimates, First Busey (BUSE) Q4 Earnings: A Look at Key Metrics

The headline numbers for First Busey (BUSE) give insight into how the company performed in the quarter ended December 2023, but it may be worthwhile to compare some of its key metrics to Wall Street estimates and the year-ago actuals.

Compared to Estimates, First Busey (BUSE) Q4 Earnings: A Look at Key Metrics

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