Q1 2023 EPS Estimates for First Business Financial Services, Inc. (NASDAQ:FBIZ) Reduced by Analyst

Posted by Defense World Staff on Apr 7th, 2023

First Business Financial Services, Inc. (NASDAQ:FBIZ – Get Rating) – Investment analysts at DA Davidson reduced their Q1 2023 earnings estimates for shares of First Business Financial Services in a note issued to investors on Wednesday, April 5th. DA Davidson analyst J. Rulis now expects that the financial services provider will post earnings per share of $1.15 for the quarter, down from their previous forecast of $1.17. The consensus estimate for First Business Financial Services’ current full-year earnings is $4.51 per share. DA Davidson also issued estimates for First Business Financial Services’ FY2024 earnings at $4.65 EPS.

Other equities analysts have also recently issued reports about the stock. Raymond James cut their target price on shares of First Business Financial Services from $41.00 to $36.00 in a research note on Thursday. StockNews.com initiated coverage on shares of First Business Financial Services in a research note on Thursday, March 16th. They set a “hold” rating for the company.

First Business Financial Services Stock Performance

FBIZ opened at $29.41 on Thursday. The stock has a market capitalization of $245.57 million, a price-to-earnings ratio of 6.20 and a beta of 0.71. The company has a fifty day moving average of $33.79 and a 200 day moving average of $35.26. First Business Financial Services has a fifty-two week low of $29.35 and a fifty-two week high of $39.88. The company has a debt-to-equity ratio of 1.84, a quick ratio of 1.18 and a current ratio of 1.18.

First Business Financial Services (NASDAQ:FBIZ – Get Rating) last announced its quarterly earnings data on Thursday, January 26th. The financial services provider reported $1.18 EPS for the quarter, beating the consensus estimate of $1.12 by $0.06. The firm had revenue of $34.43 million for the quarter, compared to the consensus estimate of $34.35 million. First Business Financial Services had a net margin of 27.09% and a return on equity of 17.01%.

First Business Financial Services Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 16th. Shareholders of record on Monday, February 6th were paid a $0.228 dividend. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.20. This represents a $0.91 dividend on an annualized basis and a dividend yield of 3.10%. The ex-dividend date of this dividend was Friday, February 3rd. First Business Financial Services’s dividend payout ratio (DPR) is presently 19.20%.

Insiders Place Their Bets

In other First Business Financial Services news, Director John J. Harris acquired 1,000 shares of the company’s stock in a transaction on Thursday, March 23rd. The stock was acquired at an average cost of $30.73 per share, with a total value of $30,730.00. Following the purchase, the director now directly owns 12,440 shares of the company’s stock, valued at approximately $382,281.20. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Corporate insiders own 6.30% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

Institutional investors and hedge funds have recently made changes to their positions in the business. Mendota Financial Group LLC purchased a new position in shares of First Business Financial Services in the 4th quarter worth $29,000. Dorsey Wright & Associates purchased a new position in shares of First Business Financial Services during the 4th quarter worth about $29,000. UBS Group AG purchased a new position in shares of First Business Financial Services during the 1st quarter worth about $37,000. Lazard Asset Management LLC boosted its stake in shares of First Business Financial Services by 55.8% during the 3rd quarter. Lazard Asset Management LLC now owns 1,404 shares of the financial services provider’s stock worth $45,000 after purchasing an additional 503 shares during the period. Finally, BNP Paribas Arbitrage SA boosted its stake in shares of First Business Financial Services by 2,496.3% during the 2nd quarter. BNP Paribas Arbitrage SA now owns 2,129 shares of the financial services provider’s stock worth $66,000 after purchasing an additional 2,047 shares during the period. 66.11% of the stock is owned by hedge funds and other institutional investors.

About First Business Financial Services

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First Business Financial Services, Inc operates as a bank holding company, which engages in the provision of commercial banking services. It offers treasury and investment management, commercial lending, equipment finance, retirement plans, trust and estate administration, private banking and asset-based lending.

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