DA Davidson Has Positive Estimate for FBIZ FY2024 Earnings

First Business Financial Services, Inc. (NASDAQ:FBIZ - Free Report) - Equities researchers at DA Davidson raised their FY2024 earnings estimates for shares of First Business Financial Services in a research report issued to clients and investors on Monday, October 28th. DA Davidson analyst J. Rulis now anticipates that the financial services provider will earn $4.80 per share for the year, up from their previous forecast of $4.65. DA Davidson has a "Buy" rating and a $50.00 price target 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 - Get Free Report) last announced its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.20 by $0.04. The firm had revenue of $66.39 million for the quarter, compared to analyst estimates of $38.80 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. During the same quarter in the previous year, the firm posted $1.17 EPS.

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

First Business Financial Services Stock Performance

First Business Financial Services stock traded down $0.53 on Tuesday, hitting $44.25. The company's stock had a trading volume of 12,617 shares, compared to its average volume of 15,376. The firm has a market cap of $366.79 million, a P/E ratio of 10.31 and a beta of 0.82. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.12. The company has a fifty day moving average price of $43.96 and a 200-day moving average price of $39.28. First Business Financial Services has a one year low of $29.80 and a one year high of $47.23.

Institutional Investors Weigh In On First Business Financial Services

Several large investors have recently made changes to their positions in FBIZ. Dimensional Fund Advisors LP grew its holdings in First Business Financial Services by 1.5% during the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider's stock worth $19,893,000 after acquiring an additional 7,871 shares during the last quarter. Vanguard Group Inc. lifted its position in First Business Financial Services by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider's stock valued at $13,540,000 after purchasing an additional 7,499 shares during the period. Quadrature Capital Ltd acquired a new position in First Business Financial Services during the 1st quarter valued at about $247,000. Squarepoint Ops LLC acquired a new position in First Business Financial Services during the 2nd quarter valued at about $204,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in First Business Financial Services during the 3rd quarter valued at about $217,000. Institutional investors own 60.07% of the company's stock.

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.