Equities Analysts Set Expectations for First Business Financial Services, Inc.’s Q2 2024 Earnings (NASDAQ:FBIZ)

First Business Financial Services, Inc. (NASDAQ:FBIZ) – Equities researchers at DA Davidson issued their Q2 2024 earnings per share estimates for First Business Financial Services in a research report issued to clients and investors on Wednesday, May 1st. DA Davidson analyst J. Rulis forecasts that the financial services provider will earn $1.14 per share for the quarter. The consensus estimate for First Business Financial Services’ current full-year earnings is $4.62 per share. DA Davidson also issued estimates for First Business Financial Services’ FY2024 earnings at $4.50 EPS and FY2025 earnings at $5.00 EPS.

Several other research analysts have also commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $44.00 price target on shares of First Business Financial Services in a research report on Monday, March 18th. Raymond James lifted their target price on First Business Financial Services from $40.00 to $46.00 and gave the stock an “outperform” rating in a report on Monday, January 29th.

First Business Financial Services Stock Performance

First Business Financial Services stock opened at $34.76 on Thursday. The company’s 50-day moving average price is $34.63 and its 200-day moving average price is $35.15. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.34. The company has a market cap of $288.16 million, a PE ratio of 8.01 and a beta of 0.79. First Business Financial Services has a twelve month low of $24.57 and a twelve month high of $41.03.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Friday, April 26th. The financial services provider reported $1.04 earnings per share for the quarter, missing analysts’ consensus estimates of $1.13 by ($0.09). The business had revenue of $62.54 million during the quarter, compared to analysts’ expectations of $37.47 million. First Business Financial Services had a net margin of 15.48% and a return on equity of 13.51%.

First Business Financial Services Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, May 22nd. Investors of record on Thursday, May 9th will be issued a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This represents a $1.00 annualized dividend and a yield of 2.88%. First Business Financial Services’s payout ratio is 23.04%.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. SG Americas Securities LLC purchased a new position in First Business Financial Services during the 3rd quarter valued at $100,000. BNP Paribas Financial Markets lifted its position in shares of First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares during the last quarter. New York State Common Retirement Fund boosted its stake in shares of First Business Financial Services by 70.7% during the fourth quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock valued at $155,000 after purchasing an additional 1,601 shares during the period. 1834 Investment Advisors Co. bought a new position in shares of First Business Financial Services in the fourth quarter worth about $257,000. Finally, Riverwater Partners LLC increased its stake in First Business Financial Services by 2.7% in the 4th quarter. Riverwater Partners LLC now owns 14,490 shares of the financial services provider’s stock worth $581,000 after buying an additional 382 shares during the period. Institutional investors own 60.07% of the company’s stock.

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 in Wisconsin, Kansas, and Missouri.