First Business Financial Services (NASDAQ:FBIZ) Releases Quarterly Earnings Results

First Business Financial Services (NASDAQ:FBIZ) announced its quarterly earnings results on Thursday. The financial services provider reported $1.84 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.54 by $0.30, FiscalAI reports. The company had revenue of $46.70 million for the quarter, compared to the consensus estimate of $45.42 million. First Business Financial Services had a net margin of 18.16% and a return on equity of 14.60%.

First Business Financial Services Trading Down 1.0%

Shares of NASDAQ:FBIZ traded down $0.67 during trading on Thursday, reaching $66.90. The stock had a trading volume of 63,145 shares, compared to its average volume of 61,552. The company has a quick ratio of 1.03, a current ratio of 1.04 and a debt-to-equity ratio of 0.82. The stock has a market cap of $559.32 million, a P/E ratio of 11.02 and a beta of 0.66. The business has a fifty day moving average price of $61.98 and a 200-day moving average price of $58.17. First Business Financial Services has a fifty-two week low of $45.90 and a fifty-two week high of $69.83.

Institutional Trading of First Business Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Northwestern Mutual Wealth Management Co. acquired a new position in First Business Financial Services in the 3rd quarter valued at $33,000. EverSource Wealth Advisors LLC grew its position in shares of First Business Financial Services by 32,175.0% in the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after purchasing an additional 1,287 shares during the period. Tower Research Capital LLC TRC grew its position in shares of First Business Financial Services by 356.5% in the second quarter. Tower Research Capital LLC TRC now owns 1,890 shares of the financial services provider’s stock valued at $96,000 after purchasing an additional 1,476 shares during the period. Virtus Advisers LLC acquired a new position in First Business Financial Services in the third quarter valued at $109,000. Finally, Quantbot Technologies LP acquired a new position in First Business Financial Services in the second quarter valued at $147,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FBIZ has been the topic of a number of recent research reports. DA Davidson reaffirmed a “buy” rating and issued a $65.00 target price on shares of First Business Financial Services in a research note on Monday, April 27th. Raymond James Financial set a $64.00 price target on First Business Financial Services in a report on Monday, April 27th. Finally, Weiss Ratings upgraded First Business Financial Services from a “buy (b+)” rating to a “buy (a-)” rating in a research report on Monday, June 15th. One research analyst has rated the stock with a Strong Buy rating and three have issued a Buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $65.50.

First Business Financial Services Company Profile

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.