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On April 14, 2026 First Busey declared a quarterly common dividend of $0.26 per share payable May 1, 2026 to shareholders of record April 24, 2026. The company’s 2026 Annual Meeting on May 20, 2026 approved amendments to the 2020 equity incentive plan. The firm also declared a quarterly dividend on its 8.25% Fixed-Rate Series B depositary shares in early May 2026.
Technical Analysis
ADX stands at 17.11, signaling no dominant trend; near-term directional moves likely depend on momentum rather than a strong trend signal.
DI+ registers a dip-and-reversal and DI- shows a peak-and-reversal, a paired directional read that indicates bullish directional bias from the ADX/DI set.
MACD sits at 0.42 with the MACD line above the 0.32 signal line and a MACD trend labeled dip-and-reversal; the cross above the signal line confirms bullish momentum.
MRO reads 31.24 (positive), which indicates price currently sits above model target and therefore carries potential for a corrective move back toward fair value absent fresh buying.
RSI at 59.35 with a dip-and-reversal trajectory keeps momentum growth in place without entering overbought territory, supporting continued upside but leaving room for consolidation.
Price structure shows the close at $28.33 above the 50-day average ($26.55) and 200-day average ($24.54), with the 12-day EMA ($27.53) and Ichimoku Tenkan/Kijun near current levels—an alignment that favors continuation while the upper Bollinger band cluster (≈$27.94–$28.44) marks near-term resistance and the superTrend lower at $27.17 acts as immediate support.
Fundamental Analysis
EPS for the most recent quarter arrived at $0.67 versus an estimate of $0.58, a $0.09 beat and a 15.52% EPS surprise. Net income for the period registered $49,981,000 and cash flows ended the period at $288,462,000 per the company filings.
Valuation multiples show a price-to-book ratio of 0.91, below the industry peer mean of 1.25 and below the industry peer median of 1.22 but inside the industry peer range (low 0.29–high 1.99). Price-to-earnings stands at 38.24, below the industry peer mean of 47.46 and below the peer median of 45.37. Forward P/E at 36.82 sits modestly below the industry peer mean. Free cash flow yield equals 2.24%, above the industry peer mean of 1.78%, supporting the cash-return profile. These comparisons place book and earnings multiples on the lower side of peer averages while cash generation reads slightly stronger than the industry peer mean.
Balance-sheet and returns: debt-to-assets measures 2.81%, materially lower than the industry peer mean of 5.73%, indicating conservative leverage. Return on assets registers 0.277% (slightly above the industry peer mean), while return on equity sits at 2.071% (slightly below the industry peer mean). Dividend payout ratio at 54.42% and a current dividend yield of 1.24% reflect a distribution policy supported by cash flow coverage and a dividend coverage ratio of 1.84.
Growth and cash dynamics show mixed signals: revenue growth reads 1.99% (reported as a decimal 0.01994), while revenue QoQ and YoY data indicate directionality in the provided metrics; free cash flow shows contraction on a recent quarter basis despite a positive free cash flow yield year-over-year. Acquisition-related adjustments and integration items (including amounts related to legacy acquired PCD loan reserves and acquisition expenses) appear in the Q1 filings and contribute to the recent operating-line variability.
WMDST values the stock as under-valued; that valuation aligns with a below-peer P/B and P/E profile combined with above-peer free cash flow yield and low leverage—factors that support a relative valuation discount while integration and growth execution remain the primary fundamental drivers.
MOST-RECENT QUARTERLY REPORT
| REPORT PERIOD ENDING: | 2026-03-31 |
| REPORT DATE: | 2026-04-28 |
| NEXT REPORT DATE: | 2026-07-28 |
| CASH FLOW | Begin Period Cash Flow | $ 280.2 M |
| Operating Cash Flow | $ 51.5 M | |
| Capital Expenditures | $ -2.46 M | |
| Change In Working Capital | $ -4.61 M | |
| Dividends Paid | $ -27.20 M | |
| Cash Flow Delta | $ 8.2 M | |
| End Period Cash Flow | $ 288.5 M | |
| INCOME STATEMENT | REVENUE | |
| Total Revenue | $ 196.2 M | |
| Forward Revenue | $ 57.0 M | |
| COSTS | ||
| Cost Of Revenue | — | |
| Depreciation | $ 3.6 M | |
| Depreciation and Amortization | $ 8.1 M | |
| Research and Development | — | |
| Total Operating Expenses | — | |
| PROFITABILITY | ||
| Gross Profit | — | |
| EBITDA | — | |
| EBIT | — | |
| Operating Income | — | |
| Interest Income | $ 224.6 M | |
| Interest Expense | $ 71.5 M | |
| Net Interest Income | $ 153.1 M | |
| Income Before Tax | $ 63.7 M | |
| Tax Provision | $ 13.7 M | |
| Tax Rate | 21.484 % | |
| Net Income | $ 50.0 M | |
| Net Income From Continuing Operations | $ 50.0 M | |
| EARNINGS | ||
| EPS Estimate | $ 0.58 | |
| EPS Actual | $ 0.67 | |
| EPS Difference | $ 0.09 | |
| EPS Surprise | 15.517 % | |
| Forward EPS | $ 0.68 | |
| BALANCE SHEET | ASSETS | |
| Total Assets | $ 18.0 B | |
| Intangible Assets | $ 475.5 M | |
| Net Tangible Assets | $ 1.9 B | |
| Total Current Assets | — | |
| Cash and Short-Term Investments | — | |
| Cash | $ 302.2 M | |
| Net Receivables | — | |
| Inventory | — | |
| Long-Term Investments | — | |
| LIABILITIES | ||
| Accounts Payable | — | |
| Short-Term Debt | $ 170.0 M | |
| Total Current Liabilities | — | |
| Net Debt | $ 162.0 M | |
| Total Debt | $ 506.1 M | |
| Total Liabilities | $ 15.6 B | |
| EQUITY | ||
| Total Equity | $ 2.4 B | |
| Retained Earnings | $ 359.2 M | |
| VALUATION & PER-SHARE METRICS | EQUITY & PER-SHARE METRICS | |
| Book Value Per-Share | $ 28.22 | |
| Shares Outstanding | 85.507 M | |
| Revenue Per-Share | $ 2.29 | |
| VALUATION | Market Capitalization | $ 2.2 B |
| Enterprise Value | $ 2.7 B | |
| Enterprise Multiple | — | |
| Enterprise Multiple QoQ | — | |
| Enterprise Multiple YoY | — | |
| Enterprise Multiple IPRWA | — | |
| EV/R | 13.744 | |
| CAPITAL STRUCTURE | ||
| Asset To Equity | 7.475 | |
| Asset To Liability | 1.154 | |
| Debt To Capital | 0.173 | |
| Debt To Assets | 0.028 | |
| Debt To Assets QoQ | 57.199 % | |
| Debt To Assets YoY | 25.268 % | |
| Debt To Assets IPRWA | high: 0.145 median: 0.064 mean: 0.057 BUSE: 0.028 low: -0.0 |
|
| Debt To Equity | 0.21 | |
| Debt To Equity QoQ | 60.266 % | |
| Debt To Equity YoY | 4.865 % | |
| Debt To Equity IPRWA | high: 1.682 median: 0.597 mean: 0.546 BUSE: 0.21 low: -0.315 |
|
| PRICE-BASED VALUATION | ||
| Price To Book (P/B) | 0.908 | |
| Price To Book QoQ | 6.283 % | |
| Price To Book YoY | 0.842 % | |
| Price To Book IPRWA | high: 1.989 mean: 1.251 median: 1.216 BUSE: 0.908 low: 0.287 |
|
| Price To Earnings (P/E) | 38.241 | |
| Price To Earnings QoQ | 8.035 % | |
| Price To Earnings YoY | -0.021 % | |
| Price To Earnings IPRWA | high: 85.229 mean: 47.458 median: 45.368 BUSE: 38.241 low: 28.296 |
|
| PE/G Ratio | -25.997 | |
| Price To Sales (P/S) | 11.164 | |
| Price To Sales QoQ | 5.999 % | |
| Price To Sales YoY | -28.911 % | |
| Price To Sales IPRWA | high: 26.967 mean: 14.331 median: 13.162 BUSE: 11.164 low: 0.11 |
|
| FORWARD MULTIPLES | ||
| Forward P/E | 36.818 | |
| Forward PE/G | -25.029 | |
| Forward P/S | 38.529 | |
| EFFICIENCY | OPERATIONAL | |
| Operating Leverage | — | |
| ASSET & SALES | ||
| Asset Turnover Ratio | 0.011 | |
| Asset Turnover Ratio QoQ | -1.63 % | |
| Asset Turnover Ratio YoY | 36.948 % | |
| Asset Turnover Ratio IPRWA | high: 0.016 BUSE: 0.011 mean: 0.01 median: 0.01 low: 0.005 |
|
| Receivables Turnover | — | |
| Receivables Turnover Ratio QoQ | — | |
| Receivables Turnover Ratio YoY | — | |
| Receivables Turnover Ratio IPRWA | — | |
| Inventory Turnover | — | |
| Inventory Turnover Ratio QoQ | — | |
| Inventory Turnover Ratio YoY | — | |
| Inventory Turnover Ratio IPRWA | — | |
| Days Sales Outstanding (DSO) | — | |
| CASH CYCLE | ||
| Cash Conversion Cycle Days (CCC) | — | |
| Cash Conversion Cycle Days QoQ | — | |
| Cash Conversion Cycle Days YoY | — | |
| Cash Conversion Cycle Days IPRWA | — | |
| CAPITAL DEPLOYMENT | ||
| Cash Conversion Ratio | — | |
| CapEx To Revenue | -0.013 | |
| CapEx To Depreciation | -0.687 | |
| CAPITAL, LIQUIDITY & COVERAGE | CAPITAL STRUCTURE | |
| Total Capital | $ 2.7 B | |
| Net Invested Capital | $ 2.9 B | |
| Invested Capital | $ 2.9 B | |
| Net Tangible Assets | $ 1.9 B | |
| Net Working Capital | — | |
| LIQUIDITY | ||
| Cash Ratio | — | |
| Current Ratio | — | |
| Current Ratio QoQ | — | |
| Current Ratio YoY | — | |
| Current Ratio IPRWA | — | |
| Quick Ratio | — | |
| Quick Ratio QoQ | — | |
| Quick Ratio YoY | — | |
| Quick Ratio IPRWA | — | |
| COVERAGE & LEVERAGE | ||
| Debt To EBITDA | — | |
| Cost Of Debt | 19.367 % | |
| Interest Coverage Ratio | — | |
| Interest Coverage Ratio QoQ | — | |
| Interest Coverage Ratio YoY | — | |
| Interest Coverage Ratio IPRWA | — | |
| Operating Cash Flow Ratio | — | |
| TIMING / LIQUIDITY | ||
| Days Payables Outstanding (DPO) | — | |
| DIVIDENDS | ||
| Dividend Coverage Ratio | 1.838 | |
| Dividend Payout Ratio | 0.544 | |
| Dividend Rate | $ 0.32 | |
| Dividend Yield | 0.012 | |
| PERFORMANCE | GROWTH | |
| Asset Growth Rate | -0.376 % | |
| Revenue Growth | 1.994 % | |
| Revenue Growth QoQ | -330.787 % | |
| Revenue Growth YoY | -74.317 % | |
| Revenue Growth IPRWA | high: 29.228 % mean: 5.193 % BUSE: 1.994 % median: 1.084 % low: -23.976 % |
|
| Earnings Growth | -1.471 % | |
| Earnings Growth QoQ | -123.536 % | |
| Earnings Growth YoY | -119.491 % | |
| Earnings Growth IPRWA | high: 41.86 % BUSE: -1.471 % mean: -2.335 % median: -3.008 % low: -43.519 % |
|
| MARGINS | ||
| Gross Margin | — | |
| Gross Margin QoQ | — | |
| Gross Margin YoY | — | |
| Gross Margin IPRWA | — | |
| EBIT Margin | — | |
| EBIT Margin QoQ | — | |
| EBIT Margin YoY | — | |
| EBIT Margin IPRWA | — | |
| Return On Sales (ROS) | — | |
| Return On Sales QoQ | — | |
| Return On Sales YoY | — | |
| Return On Sales IPRWA | — | |
| CASH FLOW | ||
| Free Cash Flow (FCF) | $ 49.1 M | |
| Free Cash Flow Yield | 2.24 % | |
| Free Cash Flow Yield QoQ | -28.48 % | |
| Free Cash Flow Yield YoY | 572.673 % | |
| Free Cash Flow Yield IPRWA | high: 9.54 % BUSE: 2.24 % mean: 1.775 % median: 1.61 % low: -3.189 % |
|
| Free Cash Growth | -25.717 % | |
| Free Cash Growth QoQ | -220.907 % | |
| Free Cash Growth YoY | -70.456 % | |
| Free Cash Growth IPRWA | high: 299.762 % BUSE: -25.717 % median: -50.617 % mean: -59.334 % low: -368.012 % |
|
| Free Cash To Net Income | 0.982 | |
| Cash Flow Margin | 29.584 % | |
| Cash Flow To Earnings | 1.161 | |
| VALUE & RETURNS | ||
| Economic Value Added | $ 0.06 | |
| Return On Assets (ROA) | 0.277 % | |
| Return On Assets QoQ | -17.313 % | |
| Return On Assets YoY | -245.789 % | |
| Return On Assets IPRWA | high: 0.612 % BUSE: 0.277 % median: 0.255 % mean: 0.253 % low: 0.065 % |
|
| Return On Capital Employed (ROCE) | — | |
| Return On Equity (ROE) | 0.021 | |
| Return On Equity QoQ | -15.847 % | |
| Return On Equity YoY | -250.509 % | |
| Return On Equity IPRWA | high: 0.043 median: 0.023 mean: 0.022 BUSE: 0.021 low: 0.001 |
|
| DuPont ROE | 2.048 % | |
| Return On Invested Capital (ROIC) | — | |
| Return On Invested Capital QoQ | — | |
| Return On Invested Capital YoY | — | |
| Return On Invested Capital IPRWA | — | |

