First Business Financial Services, Inc. (NASDAQ:FBIZ) Expected to Post Quarterly Sales of $28.30 Million


Brokerages expect that First Business Financial Services, Inc. (NASDAQ:FBIZ – Get Rating) will report $28.30 million in sales for the current quarter, Zacks Investment Research reports. Two analysts have made estimates for First Business Financial Services’ earnings, with estimates ranging from $28.00 million to $28.60 million. First Business Financial Services reported sales of $28.06 million in the same quarter last year, which indicates a positive year-over-year growth rate of 0.9%. The firm is expected to report its next quarterly earnings report on Monday, January 1st.

On average, analysts expect that First Business Financial Services will report full-year sales of $117.40 million for the current fiscal year, with estimates ranging from $116.00 million to $118.80 million. For the next year, analysts anticipate that the business will post sales of $129.25 million, with estimates ranging from $128.00 million to $130.50 million. Zacks’ sales calculations are a mean average based on a survey of research firms that follow First Business Financial Services.

First Business Financial Services (NASDAQ:FBIZ – Get Rating) last issued its quarterly earnings results on Thursday, January 27th. The financial services provider reported $1.01 earnings per share for the quarter, beating the consensus estimate of $0.91 by $0.10. First Business Financial Services had a net margin of 28.81% and a return on equity of 16.00%. The business had revenue of $28.49 million for the quarter, compared to the consensus estimate of $28.67 million.

A number of research analysts have weighed in on the stock. StockNews.com initiated coverage on shares of First Business Financial Services in a research report on Thursday, March 31st. They set a “buy” rating on the stock. Zacks Investment Research upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating and set a $33.00 target price on the stock in a report on Wednesday, January 5th. One analyst has rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat.com, First Business Financial Services presently has a consensus rating of “Buy” and an average target price of $33.50.

First Business Financial Services stock traded up $0.72 during mid-day trading on Thursday, reaching $32.81. 21,062 shares of the company’s stock traded hands, compared to its average volume of 16,787. The stock has a market capitalization of $276.46 million, a P/E ratio of 7.91 and a beta of 0.81. The firm’s 50 day moving average price is $32.78. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.17 and a current ratio of 1.17. First Business Financial Services has a 12-month low of $23.75 and a 12-month high of $34.22.

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 17th. Stockholders of record on Monday, February 7th were paid a dividend of $0.1975 per share. The ex-dividend date was Friday, February 4th. This represents a $0.79 dividend on an annualized basis and a dividend yield of 2.41%. First Business Financial Services’s payout ratio is 19.04%.

Institutional investors have recently added to or reduced their stakes in the stock. Morgan Stanley lifted its holdings in First Business Financial Services by 106.7% in the 2nd quarter. Morgan Stanley now owns 12,465 shares of the financial services provider’s stock valued at $338,000 after purchasing an additional 6,435 shares in the last quarter. Royal Bank of Canada raised its holdings in shares of First Business Financial Services by 7.1% during the 2nd quarter. Royal Bank of Canada now owns 8,700 shares of the financial services provider’s stock worth $235,000 after acquiring an additional 576 shares during the period. Citadel Advisors LLC purchased a new position in shares of First Business Financial Services during the 2nd quarter worth $263,000. Kestra Advisory Services LLC purchased a new position in shares of First Business Financial Services during the 3rd quarter worth $264,000. Finally, Hillsdale Investment Management Inc. raised its holdings in shares of First Business Financial Services by 25.0% during the 3rd quarter. Hillsdale Investment Management Inc. now owns 2,000 shares of the financial services provider’s stock worth $57,000 after acquiring an additional 400 shares during the period. 58.29% of the stock is currently owned by hedge funds and other institutional investors.

About First Business Financial Services (Get Rating)

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 offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit, as well as credit cards.

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



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