Wall Street analysts forecast that First Business Financial Services Inc (NASDAQ:FBIZ) will post $22.77 million in sales for the current fiscal quarter, Zacks reports. Three analysts have made estimates for First Business Financial Services’ earnings. The lowest sales estimate is $22.70 million and the highest is $22.80 million. First Business Financial Services reported sales of $21.97 million during the same quarter last year, which would suggest a positive year-over-year growth rate of 3.6%. The company is expected to report its next quarterly earnings report on Thursday, October 24th.
According to Zacks, analysts expect that First Business Financial Services will report full year sales of $90.63 million for the current year, with estimates ranging from $90.40 million to $90.90 million. For the next fiscal year, analysts forecast that the business will post sales of $97.03 million, with estimates ranging from $96.50 million to $97.60 million. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover First Business Financial Services.
First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results 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 firm had revenue of $22.66 million for the quarter, compared to the consensus estimate of $22.03 million. First Business Financial Services had a net margin of 18.34% and a return on equity of 11.93%.
In other news, Director William Kent Lorenz sold 2,000 shares of the stock in a transaction on Monday, June 10th. The stock was sold at an average price of $23.10, for a total transaction of $46,200.00. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Corporate insiders own 5.30% of the company’s stock.
Several hedge funds have recently made changes to their positions in FBIZ. Hillsdale Investment Management Inc. lifted its stake in shares of First Business Financial Services by 2,609.1% during the second quarter. Hillsdale Investment Management Inc. now owns 29,800 shares of the financial services provider’s stock valued at $700,000 after acquiring an additional 28,700 shares during the period. Pacific Ridge Capital Partners LLC lifted its stake in shares of First Business Financial Services by 21.6% during the first quarter. Pacific Ridge Capital Partners LLC now owns 156,076 shares of the financial services provider’s stock valued at $3,125,000 after acquiring an additional 27,772 shares during the period. M3F Inc. lifted its stake in shares of First Business Financial Services by 12.1% during the first quarter. M3F Inc. now owns 253,956 shares of the financial services provider’s stock valued at $5,084,000 after acquiring an additional 27,490 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of First Business Financial Services by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 354,548 shares of the financial services provider’s stock valued at $6,917,000 after acquiring an additional 25,757 shares during the period. Finally, Nicolet Advisory Services LLC acquired a new position in shares of First Business Financial Services during the first quarter valued at $378,000. Institutional investors own 62.89% of the company’s stock.
FBIZ stock traded up $0.21 during mid-day trading on Thursday, reaching $23.40. The company had a trading volume of 10,239 shares, compared to its average volume of 14,288. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of 1.63. The firm has a market capitalization of $200.26 million, a PE ratio of 9.35, a P/E/G ratio of 1.19 and a beta of 0.83. First Business Financial Services has a one year low of $18.76 and a one year high of $25.00. The business has a 50-day moving average price of $23.64.
The business also recently declared a quarterly dividend, which will be paid on Thursday, August 15th. Shareholders of record on Monday, August 5th will be given a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a yield of 2.56%. The ex-dividend date is Friday, August 2nd. First Business Financial Services’s dividend payout ratio (DPR) is 32.26%.
First Business Financial Services Company Profile
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.
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