Zacks Investment Research lowered shares of First Business Financial Services (NASDAQ:FBIZ – Get Rating) from a buy rating to a hold rating in a research report sent to investors on Tuesday morning, Zacks.com reports.
According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “
Separately, StockNews.com began coverage on shares of First Business Financial Services in a research note on Thursday, March 31st. They issued a buy rating for the company. Two investment analysts have rated the stock with a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat, First Business Financial Services currently has an average rating of Buy and a consensus target price of $33.50.
NASDAQ:FBIZ opened at $32.81 on Tuesday. First Business Financial Services has a 52 week low of $23.75 and a 52 week high of $34.22. The company has a debt-to-equity ratio of 1.78, a quick ratio of 1.17 and a current ratio of 1.17. The company has a fifty day moving average price of $32.78. The company has a market cap of $276.46 million, a price-to-earnings ratio of 7.91 and a beta of 0.81.
First Business Financial Services (NASDAQ:FBIZ – Get Rating) last posted its quarterly earnings data on Thursday, January 27th. The financial services provider reported $1.01 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.91 by $0.10. First Business Financial Services had a return on equity of 16.00% and a net margin of 28.81%. The firm had revenue of $28.49 million during the quarter, compared to analyst estimates of $28.67 million. As a group, equity analysts expect that First Business Financial Services will post 3.68 EPS for the current year.
The company also recently declared a quarterly dividend, which was paid on Thursday, February 17th. Shareholders of record on Monday, February 7th were issued a $0.1975 dividend. The ex-dividend date was Friday, February 4th. This represents a $0.79 annualized dividend and a yield of 2.41%. First Business Financial Services’s payout ratio is currently 19.04%.
Large investors have recently modified their holdings of the company. Lazard Asset Management LLC acquired a new position in First Business Financial Services during the fourth quarter worth $26,000. Hillsdale Investment Management Inc. raised its holdings in shares of First Business Financial Services by 30.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 2,600 shares of the financial services provider’s stock worth $76,000 after acquiring an additional 600 shares during the last quarter. Russell Investments Group Ltd. lifted its position in First Business Financial Services by 105.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,905 shares of the financial services provider’s stock valued at $113,000 after acquiring an additional 2,005 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in First Business Financial Services during the 4th quarter valued at about $140,000. Finally, Trexquant Investment LP bought a new stake in First Business Financial Services during the 3rd quarter worth approximately $234,000. 58.29% of the stock is currently owned by institutional investors.
First Business Financial Services Company Profile (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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