DA Davidson Brokers Raise Earnings Estimates for First Business Financial Services Inc (FBIZ)

First Business Financial Services Inc (NASDAQ:FBIZ) – Research analysts at DA Davidson raised their Q2 2019 earnings estimates for shares of First Business Financial Services in a research note issued on Tuesday, April 30th, Zacks Investment Research reports. DA Davidson analyst K. Reevey now forecasts that the financial services provider will post earnings per share of $0.51 for the quarter, up from their prior forecast of $0.50. DA Davidson also issued estimates for First Business Financial Services’ Q3 2019 earnings at $0.57 EPS, Q4 2019 earnings at $0.64 EPS and FY2020 earnings at $2.33 EPS.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, April 25th. The financial services provider reported $0.67 EPS for the quarter, topping analysts’ consensus estimates of $0.45 by $0.22. First Business Financial Services had a net margin of 16.22% and a return on equity of 10.35%. The business had revenue of $22.39 million during the quarter, compared to the consensus estimate of $21.43 million.

A number of other equities research analysts also recently commented on the stock. ValuEngine raised shares of First Business Financial Services from a “sell” rating to a “hold” rating in a research report on Wednesday, May 1st. Zacks Investment Research raised shares of First Business Financial Services from a “hold” rating to a “buy” rating and set a $26.00 target price for the company in a research report on Tuesday, April 30th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the company. First Business Financial Services has a consensus rating of “Buy” and a consensus target price of $27.00.

NASDAQ:FBIZ traded up $0.08 during trading hours on Wednesday, reaching $23.90. The company had a trading volume of 8,900 shares, compared to its average volume of 12,951. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.51. First Business Financial Services has a 52 week low of $18.76 and a 52 week high of $26.83. The company has a market cap of $207.31 million, a PE ratio of 12.85, a price-to-earnings-growth ratio of 1.30 and a beta of 0.94.

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Stockholders of record on Monday, May 6th were given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a dividend yield of 2.51%. The ex-dividend date was Friday, May 3rd. First Business Financial Services’s payout ratio is 32.26%.

In other news, General Counsel Barbara Mccarty Conley sold 5,000 shares of the business’s stock in a transaction on Tuesday, April 30th. The shares were sold at an average price of $23.19, for a total transaction of $115,950.00. Following the completion of the sale, the general counsel now owns 31,161 shares of the company’s stock, valued at approximately $722,623.59. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Insiders own 5.30% of the company’s stock.

Hedge funds have recently modified their holdings of the company. 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 valued at $35,000 after acquiring an additional 1,481 shares during the period. SEI Investments Co bought a new stake in shares of First Business Financial Services during the 1st quarter valued at $102,000. Rhumbline Advisers bought a new position in First Business Financial Services in the 4th quarter worth $221,000. Acadian Asset Management LLC boosted its holdings in First Business Financial Services by 87.3% in 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 during the period. Finally, Wedge Capital Management L L P NC boosted its holdings in First Business Financial Services by 23.9% in 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 during the period. 63.15% of the stock is owned by hedge funds and other institutional investors.

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.

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