For the quarter ended June 2024, First Busey (BUSE) reported revenue of $116.24 million, up 9% over the same period last year. EPS came in at $0.50, compared to $0.52 in the year-ago quarter.
The reported revenue compares to the Zacks Consensus Estimate of $116.65 million, representing a surprise of -0.35%. The company delivered an EPS surprise of +2.04%, with the consensus EPS estimate being $0.49.
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: 62.3% versus 63.2% estimated by three analysts on average.
- Net Interest Margin: 3% versus 3% estimated by three analysts on average.
- Non-performing loans: $9.11 million versus the two-analyst average estimate of $20.09 million.
- Average Balances - Interest-earning assets: $10.99 billion versus the two-analyst average estimate of $11.36 billion.
- Total noninterest income: $33.80 million compared to the $33.45 million average estimate based on three analysts.
- Mortgage revenue: $0.48 million compared to the $0.70 million average estimate based on three analysts.
- Fees for customer services: $7.80 million versus the two-analyst average estimate of $7.10 million.
- Net Interest Income: $82.43 million compared to the $83.67 million average estimate based on two analysts.
- Payment technology solutions: $5.92 million versus the two-analyst average estimate of $5.88 million.
- Tax-equivalent net interest income: $82.84 million compared to the $83.55 million average estimate based on two analysts.
- Wealth management fees: $15.92 million versus $15.09 million estimated by two analysts on average.
Shares of First Busey have returned +21.1% over the past month versus the Zacks S&P 500 composite's +2% 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.
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
