First Business Financial Services (NASDAQ:FBIZ) Posts Earnings Results, Beats Estimates By $0.30 EPS

First Business Financial Services (NASDAQ:FBIZGet Free Report) posted its quarterly earnings data on Thursday. The financial services provider reported $1.84 earnings per share for the quarter, topping the consensus estimate of $1.54 by $0.30, FiscalAI reports. The business had revenue of $46.70 million during the quarter, compared to analysts’ expectations of $45.42 million. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.

First Business Financial Services Price Performance

First Business Financial Services stock traded down $0.67 during mid-day trading on Thursday, hitting $66.90. 63,145 shares of the company were exchanged, compared to its average volume of 41,955. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. The business has a fifty day moving average of $61.79 and a 200 day moving average of $58.09. First Business Financial Services has a 1-year low of $45.90 and a 1-year high of $69.83. The company has a market capitalization of $559.45 million, a PE ratio of 11.02 and a beta of 0.66.

Analyst Ratings Changes

FBIZ has been the topic of several recent research reports. Weiss Ratings raised First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a report on Monday, June 15th. Raymond James Financial set a $64.00 target price on First Business Financial Services in a research report on Monday, April 27th. Finally, DA Davidson reiterated a “buy” rating and set a $65.00 price target on shares of First Business Financial Services in a research note on Monday, April 27th. One research analyst has rated the stock with a Strong Buy rating and three have given a Buy rating to the stock. Based on data from MarketBeat.com, First Business Financial Services presently has a consensus rating of “Buy” and an average price target of $65.50.

Read Our Latest Analysis on First Business Financial Services

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of First Business Financial Services by 5.2% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 4,711 shares of the financial services provider’s stock worth $222,000 after purchasing an additional 234 shares during the last quarter. Franklin Resources Inc. lifted its holdings in First Business Financial Services by 1.1% during the 3rd quarter. Franklin Resources Inc. now owns 22,213 shares of the financial services provider’s stock valued at $1,139,000 after purchasing an additional 239 shares during the last quarter. Stifel Financial Corp boosted its position in First Business Financial Services by 1.2% in the fourth quarter. Stifel Financial Corp now owns 23,035 shares of the financial services provider’s stock valued at $1,251,000 after buying an additional 272 shares in the last quarter. First Trust Advisors LP grew its stake in First Business Financial Services by 6.6% during the second quarter. First Trust Advisors LP now owns 5,309 shares of the financial services provider’s stock worth $269,000 after buying an additional 327 shares during the last quarter. Finally, Invesco Ltd. grew its stake in First Business Financial Services by 0.7% during the second quarter. Invesco Ltd. now owns 58,169 shares of the financial services provider’s stock worth $2,947,000 after buying an additional 400 shares during the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

First Business Financial Services Company Profile

(Get Free Report)

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.

See Also

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

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