Equities Analysts Offer Predictions for FBIZ FY2024 Earnings

First Business Financial Services, Inc. (NASDAQ:FBIZ) – Investment analysts at DA Davidson lifted their FY2024 earnings per share estimates for shares of First Business Financial Services in a note issued to investors on Monday, October 28th. DA Davidson analyst J. Rulis now anticipates that the financial services provider will post earnings of $4.80 per share for the year, up from their prior estimate of $4.65. DA Davidson has a “Buy” rating and a $50.00 price objective on the stock. The consensus estimate for First Business Financial Services’ current full-year earnings is $4.70 per share. DA Davidson also issued estimates for First Business Financial Services’ Q4 2024 earnings at $1.30 EPS and FY2025 earnings at $5.30 EPS.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, topping analysts’ consensus estimates of $1.20 by $0.04. The firm had revenue of $66.39 million during the quarter, compared to the consensus estimate of $38.80 million. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. During the same quarter in the previous year, the company posted $1.17 earnings per share.

Several other research analysts have also recently issued reports on the stock. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. Piper Sandler cut their price target on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, StockNews.com cut First Business Financial Services from a “buy” rating to a “hold” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $50.00.

First Business Financial Services Stock Performance

FBIZ opened at $43.88 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. First Business Financial Services has a 12-month low of $30.50 and a 12-month high of $47.23. The firm has a 50 day moving average of $44.03 and a two-hundred day moving average of $39.38. The firm has a market capitalization of $363.72 million, a PE ratio of 10.11 and a beta of 0.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBIZ. Lazard Asset Management LLC purchased a new stake in shares of First Business Financial Services during the 1st quarter worth about $60,000. SG Americas Securities LLC purchased a new position in shares of First Business Financial Services in the 3rd quarter valued at about $125,000. BNP Paribas Financial Markets raised its holdings in First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares during the period. ERn Financial LLC purchased a new position in First Business Financial Services during the third quarter worth approximately $210,000. Finally, Creative Planning acquired a new stake in First Business Financial Services in the third quarter valued at approximately $216,000. Hedge funds and other institutional investors own 60.07% of the company’s stock.

First Business Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Thursday, November 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. The ex-dividend date of this dividend is Thursday, November 7th. First Business Financial Services’s dividend payout ratio (DPR) is presently 23.04%.

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.