First Business Financial Services (NASDAQ:FBIZ) Releases Quarterly Earnings Results, Beats Expectations By $0.28 EPS

Key Points

• First Business Financial Services beat quarterly earnings expectations: EPS came in at $1.95 versus the $1.67 consensus, while revenue reached $47.51 million, slightly above the $46.88 million estimate.
• Shares rose 1.4% to $73.76 following the results, near the company’s 52-week high of $74.34. The stock has a market capitalization of approximately $617 million and a P/E ratio of 11.33.
• Analysts maintain a broadly positive outlook, with a consensus “Buy” rating and an average price target of $78.25; Piper Sandler recently raised its target to $84.00.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) posted its earnings results on Thursday. The financial services provider reported $1.95 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.67 by $0.28, FiscalAI reports. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. The company had revenue of $47.51 million for the quarter, compared to analysts' expectations of $46.88 million.

First Business Financial Services Stock Up 1.4%

First Business Financial Services stock traded up $1.01 during trading hours on Thursday, hitting $73.76. 59,199 shares of the stock traded hands, compared to its average volume of 62,938. The firm's 50-day moving average price is $70.86 and its two-hundred day moving average price is $62.24. The company has a current ratio of 1.06, a quick ratio of 1.06 and a debt-to-equity ratio of 0.90. The company has a market cap of $617.37 million, a PE ratio of 11.33 and a beta of 0.67. First Business Financial Services has a one year low of $47.87 and a one year high of $74.34.

Insider Buying and Selling at First Business Financial Services

In other news, insider Jodi Chandler sold 675 shares of the stock in a transaction that occurred on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the transaction, the insider owned 22,550 shares of the company's stock, valued at approximately $1,582,784.50. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 5.00% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have commented on FBIZ shares. Weiss Ratings raised First Business Financial Services from a "buy (a-)" rating to a "buy (a+)" rating in a research report on Thursday, October 8th. Piper Sandler reiterated an "overweight" rating and issued a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. DA Davidson set a $80.00 target price on First Business Financial Services and gave the company a "buy" rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods restated an "outperform" rating and set a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Finally, Raymond James Financial assumed coverage on First Business Financial Services in a research note on Thursday, October 1st. They issued an "outperform" rating and a $75.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating and four have assigned a Buy rating to the stock. According to MarketBeat, First Business Financial Services presently has a consensus rating of "Buy" and a consensus target price of $78.25.

First Business Financial Services Company Profile

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.

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