First corporate financial services (NASDAQ:FBIZ) downgraded by Zacks Investment Research for sale


Zacks Investment Research cut shares by First Business Financial Services (NASDAQ:FBIZ – Get a Rating) from a hold rating to a sell rating in a research note released Friday to investors, Zacks.com reports.

According to Zacks, “First Business Financial Services is the parent company of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with profitable 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 covering First Business Financial Services in a research note on Thursday, March 31. They issued a buy rating for the company. One research analyst rated the stock with a sell rating, one gave the stock a hold rating, and two gave the stock a buy rating. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $33.50.

FBIZ stock opened at $34.67 on Friday. The company has a fifty-day moving average of $32.88 and a two-hundred-day moving average of $31.26. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt ratio of 1.78. The stock has a market capitalization of $292.27 million, a price-earnings ratio of 8.56 and a beta of 0.81. First Business Financial Services has a 52-week minimum of $25.50 and a 52-week maximum of $35.27.

First Business Financial Services (NASDAQ:FBIZ – Get Rating) last released its results on Thursday, April 28. The financial services provider reported earnings per share (EPS) of $1.02 for the quarter, beating the consensus estimate of $0.91 by $0.11. First Business Financial Services achieved a return on equity of 16.00% and a net margin of 28.81%. As a group, sell-side analysts expect First Business Financial Services to post EPS of 3.57 for the current year.

Separately, director Carla C. Chavarria acquired 755 shares of the company in a transaction dated Thursday, April 14. The shares were acquired at an average cost of $33.27 per share, with a total value of $25,118.85. Following the completion of the purchase, the director now owns 3,966 shares of the company, valued at approximately $131,948.82. The acquisition was disclosed in a legal filing with the SEC, accessible via the SEC’s website. Insiders hold 6.10% of the shares of the company.

A number of institutional investors and hedge funds have recently increased or reduced their stakes in FBIZ. Lazard Asset Management LLC acquired a new position in First Business Financial Services during Q4 worth $26,000. Hillsdale Investment Management Inc. increased its stake in First Business Financial Services by 30.0% during the fourth quarter. Hillsdale Investment Management Inc. now owns 2,600 shares of the financial services provider worth $76,000 after buying an additional 600 shares in the last quarter. Russell Investments Group Ltd. increased its stake in First Business Financial Services by 105.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,905 shares of the financial services provider worth $113,000 after buying an additional 2,005 shares last quarter. JPMorgan Chase & Co. acquired a new position in First Business Financial Services during Q4 worth $140,000. Finally, Trexquant Investment LP acquired a new position in First Business Financial Services during Q3 worth $234,000. 58.29% of the shares are held by hedge funds and other institutional investors.

First Business Financial Services Company Profile (Get a rating)

First Business Financial Services, Inc operates as a banking holding company for First Business Bank which provides commercial banking products and services to 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, term deposits and certificates of deposit, as well as credit cards.

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