Q2 2024 Earnings Estimate for First Business Financial Services, Inc. (NASDAQ:FBIZ) Issued By DA Davidson

First Business Financial Services, Inc. (NASDAQ:FBIZ) – Analysts at DA Davidson issued their Q2 2024 earnings estimates for First Business Financial Services in a report released on Wednesday, May 1st. DA Davidson analyst J. Rulis expects 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 $4.56 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.

FBIZ has been the topic of several other research reports. Raymond James raised their price objective on shares of First Business Financial Services from $40.00 to $46.00 and gave the stock an “outperform” rating in a research note on Monday, January 29th. Piper Sandler restated an “overweight” rating and issued a $44.00 price objective on shares of First Business Financial Services in a research note on Monday, March 18th.

First Business Financial Services Trading Up 1.3 %

Shares of First Business Financial Services stock opened at $35.30 on Thursday. The company’s fifty day simple moving average is $34.62 and its 200-day simple moving average is $35.19. The company has a market cap of $292.60 million, a price-to-earnings ratio of 8.13 and a beta of 0.79. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.34. First Business Financial Services has a 1 year low of $24.57 and a 1 year high of $41.03.

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

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Vista Investment Management lifted its holdings in shares of First Business Financial Services by 0.6% during the fourth quarter. Vista Investment Management now owns 52,410 shares of the financial services provider’s stock valued at $2,102,000 after acquiring an additional 301 shares during the period. Riverwater Partners LLC raised its holdings in shares of First Business Financial Services by 2.7% in the fourth quarter. Riverwater Partners LLC now owns 14,490 shares of the financial services provider’s stock valued at $581,000 after buying an additional 382 shares during the last quarter. SG Americas Securities LLC raised its holdings in shares of First Business Financial Services by 28.1% in the fourth quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock valued at $172,000 after buying an additional 938 shares during the last quarter. Uncommon Cents Investing LLC raised its holdings in shares of First Business Financial Services by 4.3% in the fourth quarter. Uncommon Cents Investing LLC now owns 36,255 shares of the financial services provider’s stock valued at $1,454,000 after buying an additional 1,485 shares during the last quarter. Finally, New York State Common Retirement Fund raised its holdings in shares of First Business Financial Services by 70.7% in 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 buying an additional 1,601 shares during the last quarter. 60.07% of the stock is owned by institutional investors.

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 22nd. Shareholders 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 dividend on an annualized basis and a dividend yield of 2.83%. First Business Financial Services’s payout ratio is presently 23.04%.

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.