Brokerages expect First Business Financial Services Inc (NASDAQ:FBIZ) to post sales of $22.03 million for the current fiscal quarter, according to Zacks Investment Research. Three analysts have issued estimates for First Business Financial Services’ earnings. The highest sales estimate is $22.10 million and the lowest is $21.90 million. First Business Financial Services posted sales of $20.91 million in the same quarter last year, which suggests a positive year-over-year growth rate of 5.4%. The business is expected to announce its next quarterly earnings report on Thursday, July 25th.
On average, analysts expect that First Business Financial Services will report full year sales of $90.47 million for the current year, with estimates ranging from $90.40 million to $90.60 million. For the next fiscal year, analysts forecast that the business will post sales of $96.77 million, with estimates ranging from $95.70 million to $97.60 million. Zacks Investment Research’s sales averages are a mean average based on a survey of research firms that that provide coverage for First Business Financial Services.
First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, April 25th. The financial services provider reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.45 by $0.22. The firm had revenue of $22.39 million for the quarter, compared to the consensus estimate of $21.43 million. First Business Financial Services had a return on equity of 10.35% and a net margin of 16.22%.
A number of equities analysts have weighed in on FBIZ shares. Zacks Investment Research raised First Business Financial Services from a “hold” rating to a “buy” rating and set a $26.00 price target on the stock in a research report on Tuesday, April 30th. ValuEngine raised First Business Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. One equities research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $27.00.
In other First Business Financial Services news, General Counsel Barbara Mccarty Conley sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, April 30th. The stock was sold at an average price of $23.19, for a total transaction of $115,950.00. Following the transaction, the general counsel now owns 31,161 shares of the company’s stock, valued at $722,623.59. The sale was disclosed in a document filed with the SEC, which is available through this link. 5.30% of the stock is owned by insiders.
Several large investors have recently modified their holdings of FBIZ. BNP Paribas Arbitrage SA boosted its holdings in shares of First Business Financial Services by 576.3% during the first quarter. BNP Paribas Arbitrage SA now owns 1,738 shares of the financial services provider’s stock worth $35,000 after acquiring an additional 1,481 shares during the period. SEI Investments Co bought a new stake in shares of First Business Financial Services during the first quarter worth approximately $102,000. Rhumbline Advisers bought a new stake in shares of First Business Financial Services during the fourth quarter worth approximately $221,000. Acadian Asset Management LLC boosted its holdings in shares of First Business Financial Services by 87.3% during the first quarter. Acadian Asset Management LLC now owns 12,541 shares of the financial services provider’s stock worth $251,000 after acquiring an additional 5,847 shares during the period. Finally, Wedge Capital Management L L P NC boosted its holdings in shares of First Business Financial Services by 23.9% during the first quarter. Wedge Capital Management L L P NC now owns 17,856 shares of the financial services provider’s stock worth $357,000 after acquiring an additional 3,443 shares during the period. Institutional investors own 63.15% of the company’s stock.
NASDAQ FBIZ traded down $0.28 during trading on Wednesday, reaching $23.69. 7,889 shares of the company’s stock were exchanged, compared to its average volume of 13,033. The company has a market cap of $207.31 million, a PE ratio of 12.74, a price-to-earnings-growth ratio of 1.28 and a beta of 0.94. The company has a quick ratio of 1.13, a current ratio of 1.13 and a debt-to-equity ratio of 1.51. First Business Financial Services has a fifty-two week low of $18.76 and a fifty-two week high of $26.83.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Monday, May 6th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 2.53%. The ex-dividend date is Friday, May 3rd. First Business Financial Services’s dividend payout ratio (DPR) is presently 32.26%.
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 offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.
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