First Business Financial Services (NASDAQ:FBIZ) Issues Earnings Results, Beats Expectations By $0.28 EPS

First Business Financial Services (NASDAQ:FBIZ) announced its quarterly earnings data on Thursday. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.28, FiscalAI reports. First Business Financial Services had a return on equity of 14.92% and a net margin of 19.28%. The company had revenue of $47.51 million for the quarter, compared to analyst estimates of $46.88 million.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ opened at $73.76 on Friday. The business’s 50 day simple moving average is $70.86 and its 200-day simple moving average is $62.24. The firm has a market capitalization of $617.37 million, a price-to-earnings ratio of 11.33 and a beta of 0.67. The company has a debt-to-equity ratio of 0.90, a current ratio of 1.06 and a quick ratio of 1.06. First Business Financial Services has a 12 month low of $47.87 and a 12 month high of $74.34.

Insiders Place Their Bets

In related news, insider Jodi Chandler sold 675 shares of First Business Financial Services stock in a transaction on Thursday, August 27th. The stock was sold at an average price of $70.19, for a total transaction of $47,378.25. Following the completion of the transaction, the insider directly owned 22,550 shares of the company’s stock, valued at approximately $1,582,784.50. The trade was a 2.91% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. 5.00% of the stock is owned by insiders.

Analyst Ratings Changes

FBIZ has been the subject of a number of analyst reports. DA Davidson set a $80.00 target price on First Business Financial Services and gave the stock a “buy” rating in a research note on Monday, August 3rd. Keefe, Bruyette & Woods restated an “outperform” rating and issued a $74.00 price target (up from $68.00) on shares of First Business Financial Services in a research note on Monday, August 3rd. Piper Sandler reaffirmed an “overweight” rating and set a $84.00 price objective (up from $70.00) on shares of First Business Financial Services in a report on Monday, August 3rd. Weiss Ratings upgraded First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research report on Thursday, October 8th. Finally, Raymond James Financial began coverage on First Business Financial Services in a research report on Thursday, October 1st. They issued an “outperform” rating and a $75.00 price objective for the company. One equities research analyst has rated the stock with a Strong Buy rating and four have given a Buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $78.25.

About First Business Financial Services

First Business Financial Services, Inc is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.