NasdaqGS:BUSE

Stock Analysis Report

Executive Summary

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental customers in the United States.

Snowflake

Fundamentals

Flawless balance sheet and fair value.


Similar Companies

Share Price & News

How has First Busey's share price performed over time and what events caused price changes?


Latest Share Price and Events


Market Performance


7 Day Return

0.3%

BUSE

1.7%

US Banks

1.3%

US Market


1 Year Return

-15.6%

BUSE

0.3%

US Banks

5.9%

US Market

Return vs Industry: BUSE underperformed the US Banks industry which returned 0.3% over the past year.

Return vs Market: BUSE underperformed the US Market which returned 5.9% over the past year.


Shareholder returns

BUSEIndustryMarket
7 Day0.3%1.7%1.3%
30 Day-6.1%-2.4%-1.9%
90 Day-4.6%1.0%-1.8%
1 Year-13.0%-15.6%3.2%0.3%8.3%5.9%
3 Year20.0%10.6%52.1%41.7%45.6%36.2%
5 Year64.8%43.5%69.8%51.4%66.1%47.9%

Price Volatility Vs. Market

How volatile is First Busey's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is First Busey undervalued compared to its fair value and its price relative to the market?

16.1%

Undervalued compared to fair value


Share Price vs. Fair Value

Undervalued: BUSE ($24.8) is trading below our estimate of fair value ($29.56)

Significantly Undervalued: BUSE is trading below fair value, but not by a significant amount.


Price To Earnings Ratio

PE vs Industry: BUSE is poor value based on its PE Ratio (12.6x) compared to the Banks industry average (12.5x).

PE vs Market: BUSE is good value based on its PE Ratio (12.6x) compared to the US market (17.5x).


Price to Earnings Growth Ratio

Low PEG Ratio: BUSE is poor value based on its PEG Ratio (1.1x)


Price to Book Ratio

PB vs Industry: BUSE is good value based on its PB Ratio (1.1x) compared to the US Banks industry average (1.2x).


Next Steps

Future Growth

How is First Busey forecast to perform in the next 1 to 3 years based on estimates from 5 analysts?

11.1%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BUSE's forecast earnings growth (11.1% per year) is above the savings rate (2.7%).

Earnings vs Market: BUSE's earnings (11.1% per year) are forecast to grow slower than the US market (14.4% per year).

High Growth Earnings: BUSE's earnings are forecast to grow, but not significantly.

Revenue vs Market: BUSE's revenue (5.9% per year) is forecast to grow slower than the US market (7.3% per year).

High Growth Revenue: BUSE's revenue (5.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

High Future ROE: Insufficient data to determine if BUSE's Return on Equity is forecast to be high in 3 years time


Next Steps

Past Performance

How has First Busey performed over the past 5 years?

26.8%

Historical annual earnings growth


Earnings and Revenue History


Past Earnings Growth Analysis

Earnings Trend: BUSE's earnings have grown significantly by 26.8% per year over the past 5 years.

Accelerating Growth: BUSE's earnings growth over the past year (30.6%) exceeds its 5-year average (26.8% per year).

Earnings vs Industry: BUSE earnings growth over the past year (30.6%) underperformed the Banks industry 31.8%.


Return on Equity

High ROE: BUSE's Return on Equity (8.4%) is considered low.


Return on Assets

ROA vs Industry: BUSE's Return on Assets is below or equal to the Banks industry average last year.


Return on Capital Employed

ROCE Improving: Insufficient data to calculate BUSE's Return on Capital Employed to determine if it has improved over the past 3 years.


Next Steps

Financial Health

How is First Busey's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: BUSE has a low level of unsold assets or inventory.

Debt Coverage by Assets: BUSE's debt is not covered by short term assets (assets are 1x debt).


Financial Institutions Analysis

Asset Level: BUSE's level of assets compared to its equity is low.

Allowance for Bad Loans: BUSE has a sufficient allowance for bad loans.

Low Risk Liabilities: BUSE's liabilities are made up of primarily low risk sources of funding.

Loan Level: BUSE has an acceptable proportion of non-loan assets held.

Low Risk Deposits: BUSE's loans are broadly funded by customer deposits.

Level of Bad Loans: BUSE has an appropriate level of bad loans (0.51%)


Next Steps

Dividend

What is First Busey's current dividend yield, its reliability and sustainability?

3.39%

Current Dividend Yield


Upcoming Dividend Payment

Purchase First Busey before the 'Buy Limit' to receive their next dividend payment.


Dividend Yield vs Market

company3.4%marketbottom25%1.5%markettop25%3.8%industryaverage3.1%forecastin3Years3.5%

Current dividend yield vs market & industry


Stability and Growth of Payments

Notable Dividend: BUSE's dividend (3.39%) is higher than the bottom 25% of dividend payers in the US market (1.47%).

High Dividend: BUSE's dividend (3.39%) is low compared to the top 25% of dividend payers in the US market (3.77%).

Stable Dividend: BUSE's dividend payments have been volatile in the past 10 years.

Growing Dividend: BUSE's dividend payments have fallen over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (41.7%), BUSE's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: Insufficient data to determine if a dividend will be paid in 3 years and that it will be covered by earnings.


Next Steps

Management

What is the CEO of First Busey's salary, the management and board of directors tenure and is there insider trading?

8.7yrs

Average management tenure


CEO

Van Dukeman (60yo)

12.2yrs

Tenure

US$2,063,717

Compensation

Mr. Van A. Dukeman has been the Chief Executive Officer, President and a Director of First Busey Corporation since August 2007. Effective February 28, 2009 through March 31, 2010, Mr. Dukeman also served a ...


CEO Compensation Analysis

Compensation vs. Market: Van's total compensation ($USD2.06M) is about average for companies of similar size in the US market ($USD4.07M).

Compensation vs Earnings: Van's compensation has been consistent with company performance over the past year.


Management Age and Tenure

8.7yrs

Average Tenure

56.5yo

Average Age

Experienced Management: BUSE's management team is seasoned and experienced (8.7 years average tenure).


Board Age and Tenure

9.7yrs

Average Tenure

63yo

Average Age

Experienced Board: BUSE's board of directors are considered experienced (9.7 years average tenure).


Insider Trading

Insider Buying: BUSE insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

BuyUS$180,43227 Aug 19
David Downey
EntityIndividual
Role
Lead Director
Lead Director
Shares7,500
Max PriceUS$24.06
BuyUS$12,79017 Jul 19
Gregory Lykins
EntityIndividual
Role
Chairman of the Board
Chairman of the Board
Shares505
Max PriceUS$25.33
BuyUS$4905 Jun 19
Stanley Bradshaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares2
Max PriceUS$24.55
BuyUS$29,51631 May 19
Stanley Bradshaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,183
Max PriceUS$24.95
BuyUS$24,99024 May 19
Stanley Bradshaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares1,000
Max PriceUS$24.99
BuyUS$1,503,17213 May 19
Stephen King
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares56,090
Max PriceUS$26.83
BuyUS$207,27230 Apr 19
Thomas Sloan
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares8,000
Max PriceUS$25.91
BuyUS$94,55030 Apr 19
Stanley Bradshaw
EntityIndividual
Role
Member of the Board of Directors
Independent Director
Shares3,680
Max PriceUS$25.71

Ownership Breakdown


Management Team

  • Van Dukeman (60yo)

    President

    • Tenure: 12.2yrs
    • Compensation: US$2.06m
  • Bob Plecki (59yo)

    Chief Credit Officer

    • Tenure: 9.6yrs
    • Compensation: US$844.26k
  • Barb Harrington (59yo)

    Executive VP & Chief Risk Officer

    • Tenure: 9.6yrs
    • Compensation: US$102.35k
  • Howard Mooney (54yo)

    Executive VP & Chief Information Officer

    • Tenure: 5.8yrs
    • Compensation: US$487.75k
  • Gary Jackson

    Senior Vice President of Residential Mortgage Banking Business

    • Tenure: 9.6yrs
  • John Powers (63yo)

    Executive VP & General Counsel

    • Tenure: 7.8yrs
    • Compensation: US$343.03k
  • Robin Elliott (42yo)

    President & CEO of Busey Bank

    • Tenure: 0yrs
    • Compensation: US$1.16m
  • Jeff Jones (46yo)

    CFO & Principal Accounting Officer

    • Tenure: 0.2yrs
  • Amy Randolph (44yo)

    Executive VP of Pillar Relations & Chief of Staff

    • Tenure: 5.6yrs
    • Compensation: US$837.67k
  • Mary Schlorff

    Chief Compliance Officer

    • Tenure: 0yrs

Board Members

  • Greg Lykins (71yo)

    Chairman of the Board

    • Tenure: 10.3yrs
    • Compensation: US$699.45k
  • George Shapland (88yo)

    Independent Director

    • Tenure: 25.8yrs
    • Compensation: US$85.50k
  • Van Dukeman (60yo)

    President

    • Tenure: 12.2yrs
    • Compensation: US$2.06m
  • David Downey (77yo)

    Lead Director

    • Tenure: 5.8yrs
    • Compensation: US$87.45k
  • Steve King (56yo)

    Independent Director

    • Tenure: 6.8yrs
    • Compensation: US$83.70k
  • Stan Bradshaw (62yo)

    Independent Director

    • Tenure: 13.8yrs
    • Compensation: US$82.53k
  • Frederic Kenney (60yo)

    Independent Director

    • Tenure: 1.4yrs
    • Compensation: US$71.03k
  • Thomas Sloan (70yo)

    Independent Director

    • Tenure: 9.1yrs
    • Compensation: US$85.50k
  • George Barr (64yo)

    Independent Director

    • Tenure: 13.8yrs
    • Compensation: US$81.93k
  • Michael Cassens (45yo)

    Independent Director

    • Tenure: 0.8yrs

Company Information

First Busey Corporation's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: First Busey Corporation
  • Ticker: BUSE
  • Exchange: NasdaqGS
  • Founded: 1868
  • Industry: Regional Banks
  • Sector: Banks
  • Market Cap: US$1.374b
  • Shares outstanding: 55.39m
  • Website: https://www.busey.com

Number of Employees


Location

  • First Busey Corporation
  • 100 West University Avenue
  • Champaign
  • Illinois
  • 61820
  • United States

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
BUSENasdaqGS (Nasdaq Global Select)YesCommon StockUSUSDOct 1990

Biography

First Busey Corporation operates as the bank holding company for Busey Bank that provides retail and commercial banking products and services to individual, corporate, institutional, and governmental custo ...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/10/14 23:34
End of Day Share Price2019/10/14 00:00
Earnings2019/06/30
Annual Earnings2018/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.