Wall Street brokerages expect First Business Financial Services, Inc. (NASDAQ:FBIZ – Get Rating) to announce sales of $28.30 million for the current fiscal quarter, Zacks Investment Research reports. Two analysts have provided estimates for First Business Financial Services’ earnings, with the highest sales estimate coming in at $28.60 million and the lowest estimate coming in at $28.00 million. First Business Financial Services reported sales of $28.06 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 0.9%. The firm is expected to report its next earnings report on Monday, January 1st.
According to Zacks, analysts expect that First Business Financial Services will report full-year sales of $117.40 million for the current fiscal year, with estimates ranging from $116.00 million to $118.80 million. For the next fiscal year, analysts forecast that the firm will report sales of $129.25 million, with estimates ranging from $128.00 million to $130.50 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow First Business Financial Services.
First Business Financial Services (NASDAQ:FBIZ – Get Rating) last posted its quarterly earnings data on Thursday, January 27th. The financial services provider reported $1.01 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.91 by $0.10. The company had revenue of $28.49 million during the quarter, compared to analysts’ expectations of $28.67 million. First Business Financial Services had a return on equity of 16.00% and a net margin of 28.81%.
FBIZ has been the topic of a number of research reports. StockNews.com initiated coverage on First Business Financial Services in a report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research raised First Business Financial Services from a “hold” rating to a “buy” rating and set a $33.00 price objective on the stock in a report on Wednesday, January 5th. One research analyst has rated the stock with a hold rating and three have given a buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Buy” and a consensus price target of $33.50.
A number of hedge funds have recently bought and sold shares of FBIZ. Lazard Asset Management LLC acquired a new stake in First Business Financial Services in the 4th quarter valued at $26,000. Hillsdale Investment Management Inc. increased its stake in shares of First Business Financial Services by 25.0% during the third quarter. Hillsdale Investment Management Inc. now owns 2,000 shares of the financial services provider’s stock valued at $57,000 after acquiring an additional 400 shares during the period. Russell Investments Group Ltd. grew its position in First Business Financial Services by 105.5% in the fourth quarter. Russell Investments Group Ltd. now owns 3,905 shares of the financial services provider’s stock worth $113,000 after buying an additional 2,005 shares during the last quarter. JPMorgan Chase & Co. acquired a new position in First Business Financial Services in the 4th quarter worth approximately $140,000. Finally, Trexquant Investment LP bought a new stake in shares of First Business Financial Services in the 3rd quarter valued at approximately $234,000. 58.29% of the stock is currently owned by hedge funds and other institutional investors.
Shares of NASDAQ:FBIZ traded up $0.72 during midday trading on Thursday, hitting $32.81. The company had a trading volume of 21,062 shares, compared to its average volume of 16,787. First Business Financial Services has a twelve month low of $23.75 and a twelve month high of $34.22. The firm’s 50-day moving average is $32.78. The stock has a market capitalization of $276.46 million, a PE ratio of 7.91 and a beta of 0.81. The company has a current ratio of 1.17, a quick ratio of 1.17 and a debt-to-equity ratio of 1.78.
The business also recently announced a quarterly dividend, which was paid on Thursday, February 17th. Investors of record on Monday, February 7th were paid a $0.1975 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 2.41%. The ex-dividend date was Friday, February 4th. First Business Financial Services’s payout ratio is currently 19.04%.
About First Business Financial Services (Get Rating)
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, as well as credit cards.
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