First Busey (BUSE) Reports Earnings Tomorrow: What To Expect
Regional banking company First Busey (NASDAQ:BUSE) will be reporting results this Tuesday afternoon. Here’s what to look for.
First Busey met analysts’ revenue expectations last quarter, reporting revenues of $197.2 million, up 40.1% year on year. It was a strong quarter for the company, with an impressive beat of analysts’ tangible book value per share estimates and a beat of analysts’ EPS estimates.
Is First Busey a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members.
This quarter, the market is expecting First Busey’s revenue to grow 2.6% year on year, slowing from the 65.1% increase it recorded in the same quarter last year.
Analysts covering the company have generally reconfirmed their estimates over the last 30 days, suggesting they anticipate the business will stay the course heading into earnings. First Busey has missed Wall Street’s revenue estimates multiple times over the last two years.
Looking at First Busey’s peers in the regional banks segment, some have already reported their Q2 results, giving us a hint as to what we can expect. OFG Bancorp delivered year-on-year revenue growth of 4.5%, beating analysts’ expectations by 3.9%, and Hilltop Holdings reported revenues up 7.5%, topping estimates by 3.4%. OFG Bancorp traded up 4.2% following the results while Hilltop Holdings was also up 3%.
Read our full analysis of OFG Bancorp’s results here and Hilltop Holdings’s results here.
Investors in the regional banks segment have had steady hands going into earnings, with share prices flat over the last month. First Busey is up 1% during the same time and is heading into earnings with an average analyst price target of $30.57 (compared to the current share price of $29.85).
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