First Busey (BUSE) Q3 Earnings: Taking a Look at Key Metrics Versus Estimates
For the quarter ended September 2023, First Busey (BUSE) reported revenue of $108.8 million, down 7.2% over the same period last year. EPS came in at $0.55, compared to $0.65 in the year-ago quarter.
The reported revenue represents a surprise of +0.66% over the Zacks Consensus Estimate of $108.09 million. With the consensus EPS estimate being $0.51, the EPS surprise was +7.84%.
While investors closely watch year-over-year changes in headline numbers -- revenue and earnings -- and how they compare to Wall Street expectations to determine their next course of action, some key metrics always provide a better insight into a company's underlying performance.
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 (Reported): 62.4% versus 64.3% estimated by three analysts on average.
Net Interest Margin: 2.8% versus 2.8% estimated by three analysts on average.
Non-performing loans: $12.01 million compared to the $15.27 million average estimate based on two analysts.
Net charge-off ratio: 0% versus the two-analyst average estimate of 0.1%.
Average Balances - Interest-earning assets: $11.12 billion versus $11.17 billion estimated by two analysts on average.
Mortgage revenue: $0.31 million versus the three-analyst average estimate of $0.33 million.
Total noninterest income: $31.01 million versus the three-analyst average estimate of $30.29 million.
Fees for customer services: $7.50 million versus the two-analyst average estimate of $7.14 million.
Net Interest Income: $77.79 million versus the two-analyst average estimate of $77.31 million.
Other noninterest income: $3.02 million compared to the $2.79 million average estimate based on two analysts.
Payment technology solutions: $5.23 million versus $5.33 million estimated by two analysts on average.
Tax-equivalent net interest income: $78.34 million versus $77.49 million estimated by two analysts on average.
View all Key Company Metrics for First Busey here>>>
Shares of First Busey have returned -2.7% over the past month versus the Zacks S&P 500 composite's -2.3% change. The stock currently has a Zacks Rank #4 (Sell), indicating that it could underperform the broader market in the near term.
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