First Business Financial Services Inc (FBIZ) Expected to Announce Quarterly Sales of $21.43 Million

Wall Street brokerages expect that First Business Financial Services Inc (NASDAQ:FBIZ) will post $21.43 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have made estimates for First Business Financial Services’ earnings. The lowest sales estimate is $21.30 million and the highest is $21.50 million. First Business Financial Services posted sales of $20.87 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 2.7%. The company is expected to issue its next earnings report on Thursday, April 25th.

According to Zacks, analysts expect that First Business Financial Services will report full-year sales of $89.17 million for the current fiscal year, with estimates ranging from $88.50 million to $89.70 million. For the next year, analysts anticipate that the company will post sales of $95.23 million, with estimates ranging from $94.80 million to $95.60 million. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that cover First Business Financial Services.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, January 24th. The financial services provider reported $0.46 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.48 by ($0.02). The firm had revenue of $21.76 million during the quarter, compared to the consensus estimate of $21.37 million. First Business Financial Services had a return on equity of 9.27% and a net margin of 14.90%.

FBIZ has been the topic of a number of recent research reports. Zacks Investment Research upgraded First Business Financial Services from a “hold” rating to a “buy” rating and set a $23.00 target price on the stock in a report on Tuesday, January 15th. ValuEngine lowered First Business Financial Services from a “hold” rating to a “sell” rating in a report on Friday, March 15th. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have assigned a buy rating to the company. First Business Financial Services has an average rating of “Hold” and a consensus target price of $26.00.

In related news, Director Daniel P. Olszewski bought 2,500 shares of the company’s stock in a transaction dated Friday, February 1st. The shares were bought at an average price of $20.70 per share, for a total transaction of $51,750.00. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 5.30% of the stock is owned by company insiders.

Several hedge funds have recently bought and sold shares of the company. BlackRock Inc. lifted its stake in First Business Financial Services by 3.5% during the fourth quarter. BlackRock Inc. now owns 456,005 shares of the financial services provider’s stock worth $8,897,000 after purchasing an additional 15,471 shares during the last quarter. First Business Financial Services Inc. grew its position in First Business Financial Services by 2.5% during the fourth quarter. First Business Financial Services Inc. now owns 396,797 shares of the financial services provider’s stock worth $7,742,000 after buying an additional 9,775 shares during the period. Dimensional Fund Advisors LP grew its position in First Business Financial Services by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 354,548 shares of the financial services provider’s stock worth $6,917,000 after buying an additional 25,757 shares during the period. M3F Inc. grew its position in First Business Financial Services by 20.5% during the fourth quarter. M3F Inc. now owns 226,466 shares of the financial services provider’s stock worth $4,418,000 after buying an additional 38,457 shares during the period. Finally, Renaissance Technologies LLC grew its position in First Business Financial Services by 1.3% during the third quarter. Renaissance Technologies LLC now owns 208,600 shares of the financial services provider’s stock worth $4,835,000 after buying an additional 2,695 shares during the period. Institutional investors own 63.11% of the company’s stock.

Shares of FBIZ stock traded up $0.35 during trading hours on Tuesday, reaching $21.25. The company had a trading volume of 7,097 shares, compared to its average volume of 10,056. First Business Financial Services has a 12 month low of $18.76 and a 12 month high of $26.95. The company has a quick ratio of 1.16, a current ratio of 1.17 and a debt-to-equity ratio of 1.71. The firm has a market capitalization of $186.55 million, a PE ratio of 11.42, a P/E/G ratio of 1.30 and a beta of 0.89.

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.

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