$21.33 Million in Sales Expected for First Business Financial Services Inc (FBIZ) This Quarter

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Brokerages expect that First Business Financial Services Inc (NASDAQ:FBIZ) will post $21.33 million in sales for the current quarter, according to Zacks. Three analysts have provided estimates for First Business Financial Services’ earnings, with the lowest sales estimate coming in at $21.20 million and the highest estimate coming in at $21.50 million. First Business Financial Services posted sales of $18.88 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 13%. The firm is expected to issue its next earnings results on Thursday, January 24th.

On average, analysts expect that First Business Financial Services will report full-year sales of $84.83 million for the current year, with estimates ranging from $84.50 million to $85.10 million. For the next fiscal year, analysts anticipate that the company will post sales of $89.03 million, with estimates ranging from $88.80 million to $89.40 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research analysts that cover First Business Financial Services.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, October 25th. The financial services provider reported $0.60 EPS for the quarter, topping analysts’ consensus estimates of $0.50 by $0.10. The company had revenue of $21.97 million for the quarter, compared to analyst estimates of $21.00 million. First Business Financial Services had a net margin of 15.76% and a return on equity of 9.38%.

FBIZ has been the subject of a number of analyst reports. ValuEngine downgraded shares of First Business Financial Services from a “hold” rating to a “sell” rating in a research note on Friday, October 19th. Zacks Investment Research raised shares of First Business Financial Services from a “sell” rating to a “hold” rating in a research note on Wednesday, September 26th. TheStreet downgraded shares of First Business Financial Services from a “b-” rating to a “c+” rating in a research note on Thursday, October 25th. DA Davidson raised shares of First Business Financial Services from a “neutral” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Tuesday, August 28th. They noted that the move was a valuation call. Finally, Sandler O’Neill set a $28.00 target price on shares of First Business Financial Services and gave the stock a “buy” rating in a research note on Friday, July 27th. One analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $27.67.

In related news, insider Daniel Ovokaitys sold 1,379 shares of First Business Financial Services stock in a transaction on Friday, August 24th. The shares were sold at an average price of $21.86, for a total transaction of $30,144.94. Following the completion of the transaction, the insider now owns 4,273 shares of the company’s stock, valued at $93,407.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 6.20% of the stock is owned by company insiders.

Institutional investors and hedge funds have recently bought and sold shares of the business. Acadian Asset Management LLC bought a new stake in First Business Financial Services in the second quarter valued at $204,000. Rhumbline Advisers bought a new stake in First Business Financial Services in the second quarter valued at $209,000. Macquarie Group Ltd. bought a new stake in First Business Financial Services in the second quarter valued at $222,000. Zacks Investment Management bought a new stake in First Business Financial Services in the second quarter valued at $315,000. Finally, Bank of Montreal Can bought a new stake in First Business Financial Services in the second quarter valued at $358,000. 62.53% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:FBIZ opened at $20.66 on Tuesday. The firm has a market cap of $181.23 million, a PE ratio of 15.30, a price-to-earnings-growth ratio of 1.37 and a beta of 0.81. The company has a current ratio of 1.16, a quick ratio of 1.16 and a debt-to-equity ratio of 1.64. First Business Financial Services has a 52 week low of $19.55 and a 52 week high of $26.95.

The company also recently announced a quarterly dividend, which will be paid on Thursday, November 15th. Investors of record on Monday, November 5th will be paid a dividend of $0.14 per share. This represents a $0.56 dividend on an annualized basis and a yield of 2.71%. The ex-dividend date is Friday, November 2nd. First Business Financial Services’s dividend payout ratio is presently 41.48%.

About First Business Financial Services

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's deposit products include non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, and time deposits, as well as certificates of deposit.

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Earnings History and Estimates for First Business Financial Services (NASDAQ:FBIZ)

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