What is DA Davidson’s Estimate for FBIZ FY2024 Earnings?

First Business Financial Services, Inc. (NASDAQ:FBIZ) – Analysts at DA Davidson increased their FY2024 EPS estimates for shares of First Business Financial Services in a research report issued on Monday, October 28th. DA Davidson analyst J. Rulis now forecasts that the financial services provider will post earnings per share of $4.80 for the year, up from their previous forecast of $4.65. DA Davidson has a “Buy” rating and a $50.00 price target on the stock. The consensus estimate for First Business Financial Services’ current full-year earnings is $4.70 per share. DA Davidson also issued estimates for First Business Financial Services’ Q4 2024 earnings at $1.30 EPS and FY2025 earnings at $5.30 EPS.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 earnings per share for the quarter, beating the consensus estimate of $1.20 by $0.04. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The firm had revenue of $66.39 million during the quarter, compared to the consensus estimate of $38.80 million. During the same quarter in the previous year, the firm posted $1.17 earnings per share.

FBIZ has been the topic of several other research reports. StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Finally, Piper Sandler lowered their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research report on Tuesday. One equities research analyst has rated the stock with a hold rating and four have issued a buy rating to the stock. According to MarketBeat.com, First Business Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $50.00.

First Business Financial Services Trading Down 0.8 %

Shares of NASDAQ FBIZ opened at $43.88 on Tuesday. First Business Financial Services has a twelve month low of $30.50 and a twelve month high of $47.23. The firm has a market cap of $363.72 million, a PE ratio of 10.11 and a beta of 0.82. The business has a fifty day simple moving average of $44.03 and a two-hundred day simple moving average of $39.38. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.12.

Institutional Trading of First Business Financial Services

Several hedge funds have recently modified their holdings of the company. Lazard Asset Management LLC bought a new position in shares of First Business Financial Services during the 1st quarter worth approximately $60,000. SG Americas Securities LLC purchased a new position in First Business Financial Services in the third quarter worth $125,000. BNP Paribas Financial Markets increased its position in shares of First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares in the last quarter. ERn Financial LLC purchased a new stake in shares of First Business Financial Services during the 3rd quarter valued at $210,000. Finally, Creative Planning acquired a new stake in shares of First Business Financial Services in the 3rd quarter worth $216,000. 60.07% of the stock is owned by hedge funds and other institutional investors.

First Business Financial Services Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, November 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.28%. First Business Financial Services’s dividend 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.