Equities analysts expect First Business Financial Services Inc (NASDAQ:FBIZ) to report sales of $21.40 million for the current quarter, Zacks reports. Three analysts have made estimates for First Business Financial Services’ earnings, with the highest sales estimate coming in at $21.50 million and the lowest estimate coming in at $21.30 million. First Business Financial Services posted sales of $20.87 million in the same quarter last year, which suggests a positive year over year growth rate of 2.5%. The company is expected to issue its next earnings report on Thursday, April 25th.
On average, analysts expect that First Business Financial Services will report full-year sales of $89.20 million for the current year, with estimates ranging from $88.50 million to $89.70 million. For the next financial year, analysts anticipate that the business will post sales of $95.50 million, with estimates ranging from $94.80 million to $96.10 million. Zacks’ sales averages are an average based on a survey of research analysts that that provide coverage for First Business Financial Services.
First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, January 24th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.48 by ($0.02). First Business Financial Services had a return on equity of 9.36% and a net margin of 14.90%. The company had revenue of $21.76 million for the quarter, compared to analyst estimates of $21.37 million.
Several brokerages recently issued reports on FBIZ. Zacks Investment Research upgraded First Business Financial Services from a “hold” rating to a “buy” rating and set a $23.00 price objective for the company in a research report on Friday, February 1st. ValuEngine upgraded First Business Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, November 28th. Finally, TheStreet downgraded First Business Financial Services from a “b-” rating to a “c+” rating in a research report on Thursday, October 25th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $26.00.
In other First Business Financial Services news, Director Gerald L. Kilcoyne purchased 5,000 shares of the business’s stock in a transaction on Thursday, December 20th. The stock was bought at an average cost of $19.99 per share, for a total transaction of $99,950.00. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Daniel P. Olszewski purchased 2,500 shares of the business’s stock in a transaction on Friday, February 1st. The stock was acquired at an average price of $20.70 per share, with a total value of $51,750.00. The disclosure for this purchase can be found here. Insiders acquired a total of 8,500 shares of company stock valued at $171,680 over the last quarter. 6.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently modified their holdings of FBIZ. Maltese Capital Management LLC acquired a new position in First Business Financial Services in the 3rd quarter valued at $1,854,000. M3F Inc. grew its stake in shares of First Business Financial Services by 36.4% during the 3rd quarter. M3F Inc. now owns 188,009 shares of the financial services provider’s stock valued at $4,358,000 after buying an additional 50,155 shares during the period. Renaissance Technologies LLC grew its stake in shares of First Business Financial Services by 23.7% during the 2nd quarter. Renaissance Technologies LLC now owns 205,905 shares of the financial services provider’s stock valued at $5,354,000 after buying an additional 39,505 shares during the period. Dimensional Fund Advisors LP grew its stake in shares of First Business Financial Services by 8.4% during the 2nd quarter. Dimensional Fund Advisors LP now owns 306,047 shares of the financial services provider’s stock valued at $7,957,000 after buying an additional 23,834 shares during the period. Finally, Millennium Management LLC purchased a new stake in shares of First Business Financial Services during the 2nd quarter valued at $580,000. Institutional investors own 63.61% of the company’s stock.
Shares of First Business Financial Services stock opened at $20.69 on Wednesday. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.16 and a quick ratio of 1.16. First Business Financial Services has a 1 year low of $18.76 and a 1 year high of $26.95. The company has a market cap of $181.05 million, a P/E ratio of 11.12, a P/E/G ratio of 1.26 and a beta of 0.91.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 14th. Shareholders of record on Monday, February 4th will be issued a $0.15 dividend. The ex-dividend date is Friday, February 1st. This represents a $0.60 annualized dividend and a yield of 2.90%. First Business Financial Services’s dividend payout ratio (DPR) is presently 30.11%.
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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