$22.77 Million in Sales Expected for First Business Financial Services Inc (NASDAQ:FBIZ) This Quarter

Brokerages predict that First Business Financial Services Inc (NASDAQ:FBIZ) will post $22.77 million in sales for the current quarter, according to Zacks. Three analysts have made estimates for First Business Financial Services’ earnings, with the highest sales estimate coming in at $22.80 million and the lowest estimate coming in at $22.70 million. First Business Financial Services reported sales of $21.97 million in the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The business is expected to announce its next quarterly earnings results on Thursday, October 24th.

According to Zacks, analysts expect that First Business Financial Services will report full-year sales of $90.77 million for the current year, with estimates ranging from $90.40 million to $91.00 million. For the next fiscal year, analysts expect that the business will post sales of $96.87 million, with estimates ranging from $96.50 million to $97.60 million. Zacks’ sales averages are a mean average based on a survey of sell-side analysts that follow First Business Financial Services.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, July 25th. The financial services provider reported $0.75 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.47 by $0.28. The firm had revenue of $22.66 million for the quarter, compared to the consensus estimate of $22.03 million. First Business Financial Services had a return on equity of 11.93% and a net margin of 18.34%.

Several equities analysts have commented on FBIZ shares. ValuEngine downgraded First Business Financial Services from a “hold” rating to a “sell” rating in a research report on Thursday, August 8th. Zacks Investment Research raised First Business Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price objective on the stock in a research report on Tuesday, July 30th. DA Davidson downgraded First Business Financial Services from a “buy” rating to a “neutral” rating in a research report on Tuesday, July 9th. They noted that the move was a valuation call. Finally, TheStreet raised First Business Financial Services from a “c+” rating to a “b-” rating in a research report on Wednesday, July 10th.

In other First Business Financial Services news, Director William Kent Lorenz sold 2,000 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $23.10, for a total value of $46,200.00. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 5.30% of the company’s stock.

Several institutional investors and hedge funds have recently bought and sold shares of FBIZ. BNP Paribas Arbitrage SA grew its position in shares of First Business Financial Services by 576.3% during the 1st quarter. BNP Paribas Arbitrage SA now owns 1,738 shares of the financial services provider’s stock worth $35,000 after buying an additional 1,481 shares in the last quarter. SG Americas Securities LLC bought a new position in shares of First Business Financial Services during the 2nd quarter worth $118,000. Acadian Asset Management LLC grew its position in shares of First Business Financial Services by 87.3% during the 1st quarter. Acadian Asset Management LLC now owns 12,541 shares of the financial services provider’s stock worth $251,000 after buying an additional 5,847 shares in the last quarter. Bank of Montreal Can grew its position in shares of First Business Financial Services by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 13,636 shares of the financial services provider’s stock worth $320,000 after buying an additional 867 shares in the last quarter. Finally, Wedge Capital Management L L P NC grew its position in shares of First Business Financial Services by 23.9% during the 1st quarter. Wedge Capital Management L L P NC now owns 17,856 shares of the financial services provider’s stock worth $357,000 after buying an additional 3,443 shares in the last quarter. 63.17% of the stock is currently owned by institutional investors and hedge funds.

Shares of NASDAQ FBIZ traded up $0.62 during trading hours on Thursday, hitting $23.45. 30,300 shares of the company traded hands, compared to its average volume of 13,332. The stock has a market capitalization of $205.70 million, a price-to-earnings ratio of 12.61, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 1.63. The company’s 50 day moving average price is $23.65 and its 200 day moving average price is $22.54. First Business Financial Services has a 12 month low of $18.76 and a 12 month high of $25.00.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be given a $0.15 dividend. This represents a $0.60 annualized dividend and a yield of 2.56%. The ex-dividend date is Friday, August 2nd. First Business Financial Services’s dividend payout ratio (DPR) is presently 32.26%.

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 offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.

Further Reading: Equity Income

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

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