First Busey Corp (NASDAQ: BUSE) has reported earnings for its second fiscal quarter (ending June 30) of $0.48 versus $0.53 for the same period a year ago — a decline of -9%. This result fell short of the consensus estimate of $0.50 by $-0.01. For the latest four quarters through June 30, E.P.S. were $1.96 versus $2.45 for the same period a year ago — a decline of -20%.
Recent Price Action
On 7/23/24, First Busey Corp (NASDAQ: BUSE) stock enjoyed a large increase of 3.3%, closing at $28.26. Moreover, this advance was accompanied by unusually high trading volume at 173% of normal. The stock has performed in line with the market over the last nine months and has risen 7.8% during the last week.
Current PriceTarget Research Rating
Reflecting future returns on capital that are forecasted to be above the cost of capital, BUSE is expected to continue to be a Value Builder.
First Busey has a current Value Trend Rating of B (Positive). This rating combines highly consistent signals from two proprietary PTR measures of a stock’s attractiveness. First Busey has a slightly positive Power Rating of 63 and a slightly positive Appreciation Score of 67, and the Positive Value Trend Rating results.
Rating Review
In light of this new information we are reviewing our current Overall Rating of B. This review will be completed in the next several days.
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