First Busey (BUSE) Reports Q2 Earnings: What Key Metrics Have to Say
First Busey (BUSE) 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.
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First Busey Corporation (BUSE) : Free Stock Analysis Report
