Research Analysts Offer Predictions for First Business Financial Services, Inc.’s FY2024 Earnings (NASDAQ:FBIZ)

First Business Financial Services, Inc. (NASDAQ:FBIZ) – DA Davidson raised their FY2024 earnings per share (EPS) estimates for shares of First Business Financial Services in a note issued to investors on Tuesday, August 6th. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings per share of $4.65 for the year, up from their prior forecast of $4.50. DA Davidson currently has a “Buy” rating and a $50.00 target price on the stock. The consensus estimate for First Business Financial Services’ current full-year earnings is $4.61 per share. DA Davidson also issued estimates for First Business Financial Services’ FY2025 earnings at $5.15 EPS.

A number of other research analysts have also issued reports on FBIZ. Piper Sandler increased their target price on First Business Financial Services from $44.00 to $56.00 and gave the company an “overweight” rating in a research report on Monday, July 29th. StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Thursday, August 1st. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $51.00 price objective (up from $48.00) on shares of First Business Financial Services in a research note on Monday, July 29th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of “Buy” and an average target price of $50.75.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ traded down $0.40 during midday trading on Thursday, reaching $40.65. 9,582 shares of the company’s stock traded hands, compared to its average volume of 14,567. First Business Financial Services has a 1 year low of $28.35 and a 1 year high of $47.23. The company has a market cap of $336.95 million, a P/E ratio of 9.37 and a beta of 0.83. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.09 and a current ratio of 1.08. The company has a fifty day simple moving average of $37.96 and a two-hundred day simple moving average of $36.01.

First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.09 by $0.14. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. The firm had revenue of $65.34 million for the quarter, compared to analyst estimates of $36.73 million.

Institutional Trading of First Business Financial Services

A number of hedge funds and other institutional investors have recently modified their holdings of FBIZ. Lazard Asset Management LLC acquired a new stake in shares of First Business Financial Services during the 1st quarter worth about $60,000. BNP Paribas Financial Markets increased its position in shares of First Business Financial Services by 73.1% during the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares during the last quarter. New York State Common Retirement Fund increased its position in shares of First Business Financial Services by 70.7% during the 4th quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock worth $155,000 after purchasing an additional 1,601 shares during the last quarter. SG Americas Securities LLC increased its position in shares of First Business Financial Services by 28.1% during the 4th quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock worth $172,000 after purchasing an additional 938 shares during the last quarter. Finally, Quadrature Capital Ltd acquired a new stake in shares of First Business Financial Services during the 1st quarter worth about $247,000. 60.07% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other First Business Financial Services news, Director William Kent Lorenz sold 1,345 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $34.51, for a total value of $46,415.95. Following the completion of the sale, the director now directly owns 9,836 shares of the company’s stock, valued at approximately $339,440.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 6.30% of the company’s stock.

First Business Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 21st. Shareholders of record on Thursday, August 8th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.46%. The ex-dividend date is Thursday, August 8th. First Business Financial Services’s dividend payout ratio (DPR) is presently 23.04%.

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 in Wisconsin, Kansas, and Missouri.