First Business Financial Services, Inc. (FBIZ) Posts Earnings Results, Beats Estimates By $0.07 EPS

First Business Financial Services, Inc. (FBIZ) Posts  Earnings Results, Beats Estimates By $0.07 EPS

First Business Financial Services, Inc. (NASDAQ:FBIZ) released its quarterly earnings data on Thursday. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.39 by $0.07. First Business Financial Services had a return on equity of 9.36% and a net margin of 15.37%.

Shares of First Business Financial Services (NASDAQ:FBIZ) opened at 25.33 on Monday. The company has a 50-day moving average price of $23.93 and a 200-day moving average price of $22.86. First Business Financial Services has a 12 month low of $18.76 and a 12 month high of $25.94. The firm has a market capitalization of $220.75 million, a price-to-earnings ratio of 14.81 and a beta of 0.84.

In other news, insider Charles H. Batson sold 2,085 shares of the company’s stock in a transaction on Monday, December 12th. The stock was sold at an average price of $23.67, for a total transaction of $49,351.95. Following the completion of the sale, the insider now directly owns 32,011 shares in the company, valued at approximately $757,700.37. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director John J. Harris bought 2,000 shares of the business’s stock in a transaction dated Wednesday, November 2nd. The shares were bought at an average price of $19.09 per share, with a total value of $38,180.00. Following the completion of the transaction, the director now owns 8,000 shares in the company, valued at approximately $152,720. The disclosure for this purchase can be found here. Over the last quarter, insiders have bought 3,055 shares of company stock valued at $58,299. Corporate insiders own 8.30% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FBIZ. Rhumbline Advisers increased its stake in shares of First Business Financial Services by 2.3% in the third quarter. Rhumbline Advisers now owns 9,087 shares of the financial services provider’s stock valued at $214,000 after buying an additional 200 shares in the last quarter. Prudential Financial Inc. increased its stake in shares of First Business Financial Services by 20.1% in the third quarter. Prudential Financial Inc. now owns 12,370 shares of the financial services provider’s stock valued at $290,000 after buying an additional 2,070 shares in the last quarter. Teachers Advisors Inc. increased its stake in shares of First Business Financial Services by 5.1% in the second quarter. Teachers Advisors Inc. now owns 12,687 shares of the financial services provider’s stock valued at $298,000 after buying an additional 611 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of First Business Financial Services by 1.2% in the third quarter. California State Teachers Retirement System now owns 17,122 shares of the financial services provider’s stock valued at $402,000 after buying an additional 200 shares in the last quarter. Finally, Cornerstone Capital Management Holdings LLC. increased its stake in shares of First Business Financial Services by 57.6% in the third quarter. Cornerstone Capital Management Holdings LLC. now owns 19,424 shares of the financial services provider’s stock valued at $456,000 after buying an additional 7,100 shares in the last quarter. Hedge funds and other institutional investors own 57.42% of the company’s stock.

A number of analysts have recently weighed in on FBIZ shares. Zacks Investment Research upgraded First Business Financial Services from a “strong sell” rating to a “buy” rating and set a $27.00 target price for the company in a research note on Monday, January 2nd. Raymond James Financial, Inc. restated a “market perform” rating on shares of First Business Financial Services in a research note on Monday, October 31st. Finally, DA Davidson started coverage on First Business Financial Services in a research note on Wednesday, November 23rd. They issued a “neutral” rating and a $24.00 target price for the company. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the company’s stock. The company presently has an average rating of “Hold” and an average target price of $25.75.

About First Business Financial Services

First Business Financial Services, Inc (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks).

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