$21.00 Million in Sales Expected for First Business Financial Services Inc (FBIZ) This Quarter

Wall Street analysts predict that First Business Financial Services Inc (NASDAQ:FBIZ) will post sales of $21.00 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for First Business Financial Services’ earnings, with the highest sales estimate coming in at $21.10 million and the lowest estimate coming in at $20.90 million. First Business Financial Services posted sales of $19.22 million in the same quarter last year, which indicates a positive year over year growth rate of 9.3%. The firm is expected to report its next quarterly earnings report on Thursday, October 25th.

According to Zacks, analysts expect that First Business Financial Services will report full-year sales of $84.23 million for the current financial year, with estimates ranging from $84.10 million to $84.50 million. For the next financial year, analysts expect that the company will report sales of $88.43 million per share, with estimates ranging from $87.90 million to $88.90 million. Zacks’ sales averages are a mean average based on a survey of research firms that follow First Business Financial Services.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, July 26th. The financial services provider reported $0.38 earnings per share for the quarter, missing the consensus estimate of $0.46 by ($0.08). The company had revenue of $20.91 million during the quarter, compared to analyst estimates of $20.60 million. First Business Financial Services had a net margin of 13.86% and a return on equity of 7.94%.

Several brokerages have recently weighed in on FBIZ. Zacks Investment Research cut First Business Financial Services from a “hold” rating to a “sell” rating in a research note on Tuesday, July 31st. ValuEngine cut First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Saturday, June 2nd. Sandler O’Neill raised First Business Financial Services from a “hold” rating to a “buy” rating and set a $29.00 price target for the company in a research note on Friday, April 27th. Finally, DA Davidson increased their price target on First Business Financial Services from $25.00 to $27.00 and gave the company a “neutral” rating in a research note on Tuesday, May 1st. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $27.00.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Banc Funds Co. LLC grew its stake in First Business Financial Services by 5.3% during the first quarter. Banc Funds Co. LLC now owns 822,818 shares of the financial services provider’s stock worth $20,702,000 after purchasing an additional 41,620 shares during the period. The Manufacturers Life Insurance Company grew its stake in First Business Financial Services by 0.7% during the first quarter. The Manufacturers Life Insurance Company now owns 502,866 shares of the financial services provider’s stock worth $12,652,000 after purchasing an additional 3,645 shares during the period. BlackRock Inc. grew its stake in First Business Financial Services by 5.0% during the second quarter. BlackRock Inc. now owns 437,397 shares of the financial services provider’s stock worth $11,371,000 after purchasing an additional 20,977 shares during the period. Dimensional Fund Advisors LP grew its stake in First Business Financial Services by 8.4% during the second quarter. Dimensional Fund Advisors LP now owns 306,047 shares of the financial services provider’s stock worth $7,957,000 after purchasing an additional 23,834 shares during the period. Finally, LSV Asset Management grew its stake in First Business Financial Services by 3.8% during the first quarter. LSV Asset Management now owns 170,825 shares of the financial services provider’s stock worth $4,297,000 after purchasing an additional 6,200 shares during the period. 63.36% of the stock is owned by institutional investors and hedge funds.

Shares of FBIZ stock traded down $0.13 on Friday, hitting $23.03. The company had a trading volume of 7,675 shares, compared to its average volume of 7,736. The stock has a market cap of $202.88 million, a price-to-earnings ratio of 14.94, a PEG ratio of 1.59 and a beta of 0.79. The company has a current ratio of 1.23, a quick ratio of 1.22 and a debt-to-equity ratio of 2.16. First Business Financial Services has a twelve month low of $20.57 and a twelve month high of $26.95.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 16th. Investors of record on Monday, August 6th will be paid a dividend of $0.14 per share. The ex-dividend date is Friday, August 3rd. This represents a $0.56 annualized dividend and a yield of 2.43%. First Business Financial Services’s dividend payout ratio is currently 41.48%.

About First Business Financial Services

First Business Financial Services, Inc operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals. The company's deposit products include non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, and time deposits, as well as certificates of deposit.

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Earnings History and Estimates for First Business Financial Services (NASDAQ:FBIZ)

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