First Business Financial Services (FBIZ) Upgraded to “Hold” by Zacks Investment Research
Zacks Investment Research upgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a sell rating to a hold rating in a research report report published on Wednesday.
According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “
Several other research analysts have also issued reports on FBIZ. DA Davidson raised First Business Financial Services from a neutral rating to a buy rating and set a $27.00 target price on the stock in a research report on Tuesday, August 28th. They noted that the move was a valuation call. ValuEngine lowered First Business Financial Services from a buy rating to a hold rating in a research report on Saturday, June 2nd. Finally, Sandler O’Neill set a $28.00 target price on First Business Financial Services and gave the company a buy rating in a research report on Friday, July 27th. Three research analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. The company currently has a consensus rating of Hold and an average price target of $27.00.
First Business Financial Services (NASDAQ:FBIZ) last announced its earnings results on Thursday, July 26th. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.46 by ($0.08). First Business Financial Services had a net margin of 13.86% and a return on equity of 7.94%. The business had revenue of $20.91 million for the quarter, compared to analyst estimates of $20.60 million. research analysts expect that First Business Financial Services will post 1.82 EPS for the current fiscal year.
In other news, insider Daniel Ovokaitys sold 1,379 shares of the stock in a transaction dated Friday, August 24th. The stock was sold at an average price of $21.86, for a total value of $30,144.94. Following the transaction, the insider now directly owns 4,273 shares of the company’s stock, valued at $93,407.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 6.20% of the stock is currently owned by corporate insiders.
Several hedge funds have recently made changes to their positions in FBIZ. SG Americas Securities LLC acquired a new position in shares of First Business Financial Services in the first quarter valued at about $126,000. Acadian Asset Management LLC acquired a new position in shares of First Business Financial Services in the second quarter valued at about $204,000. Rhumbline Advisers acquired a new position in shares of First Business Financial Services in the second quarter valued at about $209,000. Macquarie Group Ltd. acquired a new position in shares of First Business Financial Services in the second quarter valued at about $222,000. Finally, Zacks Investment Management acquired a new position in shares of First Business Financial Services in the second quarter valued at about $315,000. 62.65% of the stock is currently owned by institutional investors and hedge funds.
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's deposit products include non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, and time deposits, as well as certificates of deposit.
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