First Business Financial Services (NASDAQ:FBIZ) Posts Quarterly Earnings Results, Beats Estimates By $0.16 EPS

First Business Financial Services (NASDAQ:FBIZ) issued its quarterly earnings results on Thursday. The financial services provider reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.27 by $0.16, Zacks reports. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%.

First Business Financial Services Stock Performance

NASDAQ:FBIZ opened at $49.55 on Friday. The stock’s 50-day moving average is $47.47 and its 200-day moving average is $45.31. The stock has a market cap of $411.27 million, a P/E ratio of 10.63 and a beta of 0.87. First Business Financial Services has a 1-year low of $32.56 and a 1-year high of $52.22. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16.

Insider Buying and Selling

In other news, Director William Kent Lorenz sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the transaction, the director now directly owns 8,341 shares in the company, valued at $408,709. This trade represents a 10.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corey A. Chambas sold 40,000 shares of First Business Financial Services stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.81, for a total value of $1,952,400.00. Following the completion of the transaction, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. This represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.30% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Piper Sandler lowered their target price on First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods raised their price target on shares of First Business Financial Services from $53.00 to $58.00 and gave the company an “outperform” rating in a research note on Wednesday, December 4th.

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 in Wisconsin, Kansas, and Missouri.