First Business Financial Services Inc (NASDAQ:FBIZ) – Equities researchers at DA Davidson cut their Q4 2018 earnings per share estimates for shares of First Business Financial Services in a research note issued to investors on Tuesday, October 30th. DA Davidson analyst K. Reevey now expects that the financial services provider will post earnings of $0.47 per share for the quarter, down from their previous estimate of $0.56. DA Davidson has a “Buy” rating and a $27.00 price objective on the stock. DA Davidson also issued estimates for First Business Financial Services’ Q1 2019 earnings at $0.47 EPS, Q2 2019 earnings at $0.50 EPS, Q3 2019 earnings at $0.53 EPS, Q4 2019 earnings at $0.56 EPS, FY2019 earnings at $2.05 EPS and FY2020 earnings at $2.25 EPS.
First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.60 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.50 by $0.10. The firm had revenue of $21.97 million for the quarter, compared to the consensus estimate of $21.00 million. First Business Financial Services had a net margin of 15.76% and a return on equity of 9.38%.
A number of other research firms also recently commented on FBIZ. Sandler O’Neill set a $28.00 price target on shares of First Business Financial Services and gave the stock a “buy” rating in a research report on Friday, July 27th. ValuEngine downgraded shares of First Business Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday. Zacks Investment Research upgraded shares of First Business Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, September 26th. Finally, TheStreet downgraded shares of First Business Financial Services from a “b-” rating to a “c+” rating in a research report on Thursday, October 25th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $27.67.
FBIZ stock opened at $20.55 on Wednesday. First Business Financial Services has a 52 week low of $19.55 and a 52 week high of $26.95. The stock has a market cap of $183.60 million, a price-to-earnings ratio of 11.29, a P/E/G ratio of 1.39 and a beta of 0.77. The company has a debt-to-equity ratio of 1.64, a quick ratio of 1.22 and a current ratio of 1.16.
Hedge funds have recently added to or reduced their stakes in the business. Acadian Asset Management LLC bought a new stake in shares of First Business Financial Services during the 2nd quarter worth about $204,000. Rhumbline Advisers bought a new stake in shares of First Business Financial Services during the 2nd quarter worth about $209,000. Macquarie Group Ltd. bought a new stake in shares of First Business Financial Services during the 2nd quarter worth about $222,000. Zacks Investment Management bought a new stake in shares of First Business Financial Services during the 2nd quarter worth about $315,000. Finally, Bank of Montreal Can bought a new stake in shares of First Business Financial Services in the 2nd quarter worth approximately $358,000. Institutional investors own 62.75% of the company’s stock.
In other First Business Financial Services news, insider Daniel Ovokaitys sold 1,379 shares of the business’s stock in a transaction dated Friday, August 24th. The shares were sold at an average price of $21.86, for a total transaction of $30,144.94. Following the sale, the insider now directly owns 4,273 shares in the company, valued at approximately $93,407.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by insiders.
The business also recently declared a quarterly dividend, which will be paid on Thursday, November 15th. Shareholders of record on Monday, November 5th will be given a dividend of $0.14 per share. The ex-dividend date is Friday, November 2nd. This represents a $0.56 dividend on an annualized basis and a dividend yield of 2.73%. First Business Financial Services’s dividend payout ratio (DPR) is 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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