DA Davidson Weighs in on First Business Financial Services, Inc.’s FY2024 Earnings (NASDAQ:FBIZ)

First Business Financial Services, Inc. (NASDAQ:FBIZ) – Investment analysts at DA Davidson lifted their FY2024 EPS estimates for shares of First Business Financial Services in a report issued on Tuesday, August 6th. DA Davidson analyst J. Rulis now anticipates that the financial services provider will post earnings of $4.65 per share for the year, up from their previous estimate of $4.50. DA Davidson has a “Buy” rating and a $50.00 price target 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.

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

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

First Business Financial Services Stock Down 1.0 %

NASDAQ:FBIZ traded down $0.40 on Thursday, hitting $40.65. 9,582 shares of the company’s stock were exchanged, compared to its average volume of 14,567. The firm has a 50-day moving average price of $37.96 and a 200-day moving average price of $36.01. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.08 and a quick ratio of 1.09. First Business Financial Services has a 52 week low of $28.35 and a 52 week 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.

First Business Financial Services Dividend Announcement

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

Insider Buying and Selling at First Business Financial Services

In other First Business Financial Services news, Director William Kent Lorenz sold 1,345 shares of the business’s stock in a transaction dated Monday, May 13th. The shares were 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 owns 9,836 shares of the company’s stock, valued at approximately $339,440.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 6.30% of the company’s stock.

Institutional Trading of First Business Financial Services

A number of institutional investors have recently bought and sold shares of FBIZ. Lazard Asset Management LLC bought a new stake in shares of First Business Financial Services during the 1st quarter worth approximately $60,000. New York State Common Retirement Fund lifted its holdings 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 acquiring an additional 1,601 shares during the period. BNP Paribas Financial Markets lifted its holdings 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 acquiring an additional 1,659 shares during the period. SG Americas Securities LLC lifted its holdings 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 acquiring an additional 938 shares during the period. Finally, Quadrature Capital Ltd bought a new stake in shares of First Business Financial Services during the 1st quarter worth approximately $247,000. Institutional investors own 60.07% of the company’s stock.

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 in Wisconsin, Kansas, and Missouri.