First Business Financial Services (NASDAQ:FBIZ) Releases Earnings Results, Beats Expectations By $0.30 EPS

Key Points

• First Business Financial Services beat earnings expectations: Quarterly EPS was $1.84, exceeding the $1.54 consensus by $0.30, while revenue of $46.70 million also topped estimates.
• Shares fell 1.0% to $66.90 despite the earnings beat. The stock has a market capitalization of approximately $559 million and trades at a P/E ratio of 11.02.
• Analysts maintain a positive outlook, with a consensus “Buy” rating and a $65.50 price target. Institutional investors own approximately 60.07% of the company’s shares.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) announced its earnings results on Thursday. The financial services provider reported $1.84 EPS for the quarter, beating the consensus estimate of $1.54 by $0.30, FiscalAI reports. First Business Financial Services had a return on equity of 14.60% and a net margin of 18.16%.The business had revenue of $46.70 million during the quarter, compared to the consensus estimate of $45.42 million.

First Business Financial Services Stock Down 1.0%

Shares of NASDAQ:FBIZ traded down $0.67 during trading on Thursday, reaching $66.90. 63,145 shares of the company traded hands, compared to its average volume of 41,955. The firm has a fifty day simple moving average of $61.79 and a 200 day simple moving average of $58.09. The firm has a market cap of $559.45 million, a P/E ratio of 11.02 and a beta of 0.66. First Business Financial Services has a 1-year low of $45.90 and a 1-year high of $69.83. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82.

Analyst Ratings Changes

FBIZ has been the topic of several research analyst reports. Raymond James Financial set a $64.00 price objective on shares of First Business Financial Services in a research report on Monday, April 27th. Weiss Ratings raised First Business Financial Services from a "buy (b+)" rating to a "buy (a-)" rating in a research report on Monday, June 15th. Finally, DA Davidson reiterated a "buy" rating and set a $65.00 price target on shares of First Business Financial Services in a report on Monday, April 27th. One investment analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of "Buy" and a consensus target price of $65.50.

Institutional Trading of First Business Financial Services

Several hedge funds and other institutional investors have recently modified their holdings of the company. Federated Hermes Inc. lifted its stake in shares of First Business Financial Services by 45.8% in the 4th quarter. Federated Hermes Inc. now owns 104,764 shares of the financial services provider's stock valued at $5,689,000 after purchasing an additional 32,899 shares during the last quarter. Vanguard Group Inc. raised its holdings in First Business Financial Services by 6.8% during the third quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider's stock valued at $24,691,000 after buying an additional 30,499 shares in the last quarter. First Trust Advisors LP lifted its position in shares of First Business Financial Services by 469.9% in the third quarter. First Trust Advisors LP now owns 30,258 shares of the financial services provider's stock worth $1,551,000 after buying an additional 24,949 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of First Business Financial Services by 26.7% during the 4th quarter. AQR Capital Management LLC now owns 105,951 shares of the financial services provider's stock valued at $5,753,000 after acquiring an additional 22,334 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of First Business Financial Services by 85.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 44,746 shares of the financial services provider's stock valued at $2,267,000 after acquiring an additional 20,557 shares during the last quarter. 60.07% of the stock is currently owned by hedge funds and other institutional investors.

About First Business Financial Services

First Business Financial Services, Inc NASDAQ: FBIZ is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.

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