We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
First Busey (BUSE) Reports Q2 Earnings: What Key Metrics Have to Say
Read MoreHide Full Article
First Busey (BUSE - Free Report) reported $106.68 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 0.3%. EPS of $0.52 for the same period compares to $0.54 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $113.96 million, representing a surprise of -6.38%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $0.56.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Busey performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
Efficiency Ratio: 60.87% versus the two-analyst average estimate of 61.91%.
Net Interest Margin: 2.86% versus 3.09% estimated by two analysts on average.
Average Balances-Interest earning assets: $11.13 billion versus the two-analyst average estimate of $11.26 billion.
Total Non-performing loans: $15.78 million versus the two-analyst average estimate of $19.99 million.
Net charge-offs to average loans: 0.04% compared to the 0.09% average estimate based on two analysts.
Net Interest Income (FTE): $79.23 million versus the two-analyst average estimate of $86.55 million.
Mortgage revenue: $0.27 million versus the two-analyst average estimate of $0.35 million.
Fees for customer services: $7.24 million versus $6.98 million estimated by two analysts on average.
Total noninterest income: $28.01 million versus $30.95 million estimated by two analysts on average.
Other Non-Interest Income: $1.74 million versus $3.94 million estimated by two analysts on average.
Wealth management fees: $14.56 million versus $13.76 million estimated by two analysts on average.
Shares of First Busey have returned +9.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.
See More Zacks Research for These Tickers
Normally $25 each - click below to receive one report FREE:
Image: Bigstock
First Busey (BUSE) Reports Q2 Earnings: What Key Metrics Have to Say
First Busey (BUSE - Free Report) reported $106.68 million in revenue for the quarter ended June 2023, representing a year-over-year decline of 0.3%. EPS of $0.52 for the same period compares to $0.54 a year ago.
The reported revenue compares to the Zacks Consensus Estimate of $113.96 million, representing a surprise of -6.38%. The company delivered an EPS surprise of -7.14%, with the consensus EPS estimate being $0.56.
While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to determine their next move, some key metrics always offer a more accurate picture of a company's financial health.
Since these metrics play a crucial role in driving the top- and bottom-line numbers, comparing them with the year-ago numbers and what analysts estimated about them helps investors better project a stock's price performance.
Here is how First Busey performed in the just reported quarter in terms of the metrics most widely monitored and projected by Wall Street analysts:
- Efficiency Ratio: 60.87% versus the two-analyst average estimate of 61.91%.
- Net Interest Margin: 2.86% versus 3.09% estimated by two analysts on average.
- Average Balances-Interest earning assets: $11.13 billion versus the two-analyst average estimate of $11.26 billion.
- Total Non-performing loans: $15.78 million versus the two-analyst average estimate of $19.99 million.
- Net charge-offs to average loans: 0.04% compared to the 0.09% average estimate based on two analysts.
- Net Interest Income (FTE): $79.23 million versus the two-analyst average estimate of $86.55 million.
- Mortgage revenue: $0.27 million versus the two-analyst average estimate of $0.35 million.
- Fees for customer services: $7.24 million versus $6.98 million estimated by two analysts on average.
- Total noninterest income: $28.01 million versus $30.95 million estimated by two analysts on average.
- Other Non-Interest Income: $1.74 million versus $3.94 million estimated by two analysts on average.
- Wealth management fees: $14.56 million versus $13.76 million estimated by two analysts on average.
View all Key Company Metrics for First Busey here>>>Shares of First Busey have returned +9.3% over the past month versus the Zacks S&P 500 composite's +5.1% change. The stock currently has a Zacks Rank #3 (Hold), indicating that it could perform in line with the broader market in the near term.