First Business Financial Services (NASDAQ:FBIZ) Rating Lowered to Sell at ValuEngine

First Business Financial Services (NASDAQ:FBIZ) was downgraded by equities researchers at ValuEngine from a “hold” rating to a “sell” rating in a note issued to investors on Thursday, ValuEngine reports.

Several other research analysts have also weighed in on FBIZ. Zacks Investment Research raised shares of First Business Financial Services from a “hold” rating to a “buy” rating and set a $27.00 price objective for the company in a report on Tuesday, July 30th. TheStreet raised shares of First Business Financial Services from a “c+” rating to a “b-” rating in a report on Wednesday, July 10th. Finally, DA Davidson lowered shares of First Business Financial Services from a “buy” rating to a “neutral” rating in a report on Tuesday, July 9th. They noted that the move was a valuation call.

FBIZ stock traded up $0.21 during mid-day trading on Thursday, hitting $23.40. 10,239 shares of the company were exchanged, compared to its average volume of 14,566. The firm has a market cap of $194.82 million, a P/E ratio of 9.10, a PEG ratio of 1.16 and a beta of 0.83. The company has a debt-to-equity ratio of 1.63, a current ratio of 1.15 and a quick ratio of 1.15. First Business Financial Services has a twelve month low of $18.76 and a twelve month high of $25.00. The stock’s fifty day moving average is $23.64.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data on Thursday, July 25th. The financial services provider reported $0.75 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.47 by $0.28. The company had revenue of $22.66 million during the quarter, compared to analyst estimates of $22.03 million. First Business Financial Services had a net margin of 18.34% and a return on equity of 11.93%. On average, equities research analysts expect that First Business Financial Services will post 2.44 EPS for the current year.

In other news, Director William Kent Lorenz sold 2,000 shares of First Business Financial Services stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $23.10, for a total value of $46,200.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 5.30% of the company’s stock.

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Pacific Ridge Capital Partners LLC grew its holdings in First Business Financial Services by 12.7% during the 2nd quarter. Pacific Ridge Capital Partners LLC now owns 175,863 shares of the financial services provider’s stock worth $4,133,000 after acquiring an additional 19,787 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in First Business Financial Services by 5.4% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 20,040 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 1,031 shares during the last quarter. Bank of Montreal Can grew its holdings in First Business Financial Services by 6.8% during the 2nd quarter. Bank of Montreal Can now owns 13,636 shares of the financial services provider’s stock worth $320,000 after acquiring an additional 867 shares during the last quarter. Acadian Asset Management LLC grew its holdings in First Business Financial Services by 60.1% during the 2nd quarter. Acadian Asset Management LLC now owns 20,083 shares of the financial services provider’s stock worth $471,000 after acquiring an additional 7,542 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its holdings in First Business Financial Services by 1.1% during the 2nd quarter. JPMorgan Chase & Co. now owns 90,400 shares of the financial services provider’s stock worth $2,125,000 after acquiring an additional 955 shares during the last quarter. 62.89% of the stock is owned by institutional investors and hedge funds.

About First Business Financial Services

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.

See Also: Why do analysts give a neutral rating?

To view ValuEngine’s full report, visit ValuEngine’s official website.

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