Zacks: Brokerages Expect First Business Financial Services Inc (FBIZ) Will Announce Earnings of $0.50 Per Share

Wall Street analysts forecast that First Business Financial Services Inc (NASDAQ:FBIZ) will post earnings of $0.50 per share for the current quarter, according to Zacks. Three analysts have issued estimates for First Business Financial Services’ earnings. The highest EPS estimate is $0.52 and the lowest is $0.48. First Business Financial Services posted earnings per share of $0.30 in the same quarter last year, which would indicate a positive year over year growth rate of 66.7%. The business is expected to report its next quarterly earnings report on Thursday, October 25th.

On average, analysts expect that First Business Financial Services will report full year earnings of $1.82 per share for the current financial year, with EPS estimates ranging from $1.77 to $1.88. For the next financial year, analysts expect that the company will report earnings of $2.11 per share, with EPS estimates ranging from $2.05 to $2.18. Zacks Investment Research’s EPS averages are a mean average based on a survey of sell-side research analysts that follow First Business Financial Services.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Thursday, July 26th. The financial services provider reported $0.38 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.46 by ($0.08). First Business Financial Services had a net margin of 13.86% and a return on equity of 7.94%. The business had revenue of $20.91 million during the quarter, compared to analyst estimates of $20.60 million.

FBIZ has been the topic of several recent research reports. Zacks Investment Research downgraded First Business Financial Services from a “hold” rating to a “sell” rating in a report on Tuesday, July 31st. Sandler O’Neill set a $28.00 price objective on First Business Financial Services and gave the company a “buy” rating in a report on Friday, July 27th. ValuEngine downgraded First Business Financial Services from a “buy” rating to a “hold” rating in a report on Saturday, June 2nd. Finally, DA Davidson raised First Business Financial Services from a “neutral” rating to a “buy” rating and set a $27.00 price objective on the stock in a report on Tuesday, August 28th. They noted that the move was a valuation call. One equities research analyst has rated the stock with a sell rating, two have given a hold rating and two have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $27.00.

In other First Business Financial Services news, insider Daniel Ovokaitys sold 1,379 shares of First Business Financial Services stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $21.86, for a total transaction of $30,144.94. Following the transaction, the insider now directly owns 4,273 shares of the company’s stock, valued at approximately $93,407.78. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 6.20% of the stock is currently owned by insiders.

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Millennium Management LLC acquired a new position in First Business Financial Services during the 2nd quarter worth about $580,000. Zacks Investment Management bought a new position in shares of First Business Financial Services in the 2nd quarter worth about $315,000. Macquarie Group Ltd. bought a new position in shares of First Business Financial Services in the 2nd quarter worth about $222,000. OppenheimerFunds Inc. raised its position in shares of First Business Financial Services by 24.8% in the 2nd quarter. OppenheimerFunds Inc. now owns 14,358 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 2,856 shares in the last quarter. Finally, Renaissance Technologies LLC raised its position in shares of First Business Financial Services by 23.7% in the 2nd quarter. Renaissance Technologies LLC now owns 205,905 shares of the financial services provider’s stock worth $5,354,000 after acquiring an additional 39,505 shares in the last quarter. 62.65% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ FBIZ traded down $0.17 during mid-day trading on Friday, hitting $22.46. 33,200 shares of the stock traded hands, compared to its average volume of 14,611. The company has a quick ratio of 1.22, a current ratio of 1.23 and a debt-to-equity ratio of 2.16. First Business Financial Services has a twelve month low of $20.76 and a twelve month high of $26.95. The company has a market cap of $198.94 million, a price-to-earnings ratio of 16.64, a price-to-earnings-growth ratio of 1.56 and a beta of 0.77.

The business also recently announced a quarterly dividend, which was paid on Thursday, August 16th. Shareholders of record on Monday, August 6th were issued a dividend of $0.14 per share. This represents a $0.56 annualized dividend and a yield of 2.49%. The ex-dividend date was Friday, August 3rd. First Business Financial Services’s payout ratio is presently 41.48%.

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. 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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Earnings History and Estimates for First Business Financial Services (NASDAQ:FBIZ)

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