First Busey BUSE shares rallied 5.7% in the last trading session to close at $20.47. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 8.9% loss over the past four weeks.
First Busey stock surged, driven by a substantial jump in the broad markets. The jump was driven by President Donald Trump’s announcement of a 90-day tariff pause for the non-retaliating nations. This cheered the investors, driving the BUSE stock higher.
This bank holding company is expected to post quarterly earnings of $0.53 per share in its upcoming report, which represents a year-over-year change of +12.8%. Revenues are expected to be $138.14 million, up 24.7% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For First Busey, the consensus EPS estimate for the quarter has been revised 0.5% higher over the last 30 days to the current level. And a positive trend in earnings estimate revision usually translates into price appreciation. So, make sure to keep an eye on BUSE going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #3 (Hold). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
First Busey is part of the Zacks Banks - Midwest industry. Park National PRK, another stock in the same industry, closed the last trading session 7.4% higher at $153.62. PRK has returned -6% in the past month.
Park National's consensus EPS estimate for the upcoming report has remained unchanged over the past month at $2.20. Compared to the company's year-ago EPS, this represents a change of +2.3%. Park National currently boasts a Zacks Rank of #2 (Buy).
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This article originally published on Zacks Investment Research (zacks.com).
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
