Zacks Investment Research downgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a buy rating to a hold rating in a report issued on Friday.
According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “
A number of other research firms have also recently commented on FBIZ. Sandler O’Neill reaffirmed a hold rating and issued a $26.00 price target on shares of First Business Financial Services in a report on Tuesday, March 27th. DA Davidson lifted their price target on shares of First Business Financial Services from $25.00 to $27.00 and gave the stock a neutral rating in a report on Tuesday. Finally, ValuEngine raised shares of First Business Financial Services from a hold rating to a buy rating in a report on Thursday, March 1st. Three analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. The stock has a consensus rating of Hold and a consensus price target of $27.25.
Shares of NASDAQ:FBIZ traded up $0.41 during mid-day trading on Friday, reaching $25.99. The company had a trading volume of 7,406 shares, compared to its average volume of 9,277. The company has a current ratio of 1.18, a quick ratio of 1.11 and a debt-to-equity ratio of 1.86. The stock has a market capitalization of $225.42, a PE ratio of 19.25, a price-to-earnings-growth ratio of 1.68 and a beta of 0.90. First Business Financial Services has a one year low of $20.57 and a one year high of $26.95.
First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, April 26th. The financial services provider reported $0.42 EPS for the quarter, topping analysts’ consensus estimates of $0.41 by $0.01. The company had revenue of $20.87 million for the quarter, compared to analysts’ expectations of $19.23 million. First Business Financial Services had a net margin of 12.75% and a return on equity of 7.20%. research analysts predict that First Business Financial Services will post 1.91 earnings per share for the current year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 17th. Shareholders of record on Monday, May 7th will be issued a dividend of $0.14 per share. The ex-dividend date is Friday, May 4th. This represents a $0.56 dividend on an annualized basis and a yield of 2.15%. First Business Financial Services’s payout ratio is 41.48%.
In other First Business Financial Services news, insider Charles H. Batson sold 2,050 shares of the business’s stock in a transaction on Monday, February 12th. The shares were sold at an average price of $24.04, for a total transaction of $49,282.00. Following the sale, the insider now owns 24,482 shares of the company’s stock, valued at approximately $588,547.28. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Jodi A. Chandler sold 1,254 shares of the business’s stock in a transaction on Monday, March 19th. The shares were sold at an average price of $25.25, for a total transaction of $31,663.50. Following the sale, the insider now directly owns 19,721 shares in the company, valued at approximately $497,955.25. The disclosure for this sale can be found here. Insiders own 6.20% of the company’s stock.
Hedge funds have recently modified their holdings of the business. LSV Asset Management grew its position in shares of First Business Financial Services by 3.8% during the 1st quarter. LSV Asset Management now owns 170,825 shares of the financial services provider’s stock valued at $4,297,000 after purchasing an additional 6,200 shares in the last quarter. Mackay Shields LLC purchased a new position in shares of First Business Financial Services during the 1st quarter valued at $435,000. SG Americas Securities LLC purchased a new position in shares of First Business Financial Services during the 1st quarter valued at $126,000. M3F Inc. grew its position in shares of First Business Financial Services by 283.0% during the 4th quarter. M3F Inc. now owns 107,311 shares of the financial services provider’s stock valued at $2,374,000 after purchasing an additional 79,295 shares in the last quarter. Finally, Stone Ridge Asset Management LLC purchased a new position in shares of First Business Financial Services during the 4th quarter valued at $220,000. 60.19% of the stock is currently owned by institutional investors and hedge funds.
First Business Financial Services Company Profile
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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