Piper Sandler Weighs in on First Business Financial Services Inc’s Q3 2020 Earnings (NASDAQ:FBIZ)

First Business Financial Services Inc (NASDAQ:FBIZ) – Piper Sandler lowered their Q3 2020 EPS estimates for shares of First Business Financial Services in a note issued to investors on Tuesday, September 29th. Piper Sandler analyst B. Nosal now expects that the financial services provider will post earnings of $0.54 per […]

First Business Financial Services Inc (NASDAQ:FBIZ) – Piper Sandler lowered their Q3 2020 EPS estimates for shares of First Business Financial Services in a note issued to investors on Tuesday, September 29th. Piper Sandler analyst B. Nosal now expects that the financial services provider will post earnings of $0.54 per share for the quarter, down from their prior forecast of $0.82. Piper Sandler also issued estimates for First Business Financial Services’ FY2020 earnings at $1.94 EPS, Q1 2021 earnings at $0.74 EPS, Q2 2021 earnings at $0.61 EPS, Q3 2021 earnings at $0.46 EPS and FY2021 earnings at $2.29 EPS.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, July 23rd. The financial services provider reported $0.38 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.30 by $0.08. First Business Financial Services had a net margin of 14.20% and a return on equity of 8.97%. The firm had revenue of $25.21 million during the quarter, compared to analyst estimates of $24.60 million.

Several other research firms have also issued reports on FBIZ. ValuEngine lowered shares of First Business Financial Services from a “sell” rating to a “strong sell” rating in a research report on Thursday, September 3rd. Raymond James raised shares of First Business Financial Services from a “market perform” rating to an “outperform” rating and set a $19.00 price target for the company in a research report on Wednesday, June 17th. Finally, Zacks Investment Research raised shares of First Business Financial Services from a “sell” rating to a “hold” rating and set a $18.00 price target for the company in a research report on Monday, June 29th.

NASDAQ:FBIZ opened at $14.25 on Thursday. First Business Financial Services has a 12-month low of $12.86 and a 12-month high of $27.35. The company has a quick ratio of 1.21, a current ratio of 1.22 and a debt-to-equity ratio of 2.40. The firm has a market capitalization of $121.54 million, a PE ratio of 7.05 and a beta of 1.11. The firm has a 50-day moving average price of $15.71 and a 200 day moving average price of $15.57.

In related news, CFO Edward G. Sloane, Jr. purchased 3,122 shares of the stock in a transaction that occurred on Thursday, August 6th. The stock was acquired at an average price of $16.01 per share, with a total value of $49,983.22. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO David R. Seiler purchased 4,000 shares of the stock in a transaction that occurred on Wednesday, July 29th. The stock was bought at an average cost of $14.67 per share, with a total value of $58,680.00. The disclosure for this purchase can be found here. In the last ninety days, insiders have bought 7,535 shares of company stock valued at $114,755. Company insiders own 5.30% of the company’s stock.

Institutional investors have recently modified their holdings of the stock. Citigroup Inc. increased its holdings in shares of First Business Financial Services by 58.4% in the first quarter. Citigroup Inc. now owns 2,740 shares of the financial services provider’s stock valued at $42,000 after purchasing an additional 1,010 shares in the last quarter. Beese Fulmer Investment Management Inc. bought a new position in First Business Financial Services in the second quarter valued at approximately $78,000. Royal Bank of Canada boosted its stake in First Business Financial Services by 18.5% in the first quarter. Royal Bank of Canada now owns 6,188 shares of the financial services provider’s stock valued at $96,000 after acquiring an additional 968 shares during the last quarter. WINTON GROUP Ltd boosted its stake in First Business Financial Services by 11.2% in the first quarter. WINTON GROUP Ltd now owns 11,796 shares of the financial services provider’s stock valued at $183,000 after acquiring an additional 1,192 shares during the last quarter. Finally, Wedge Capital Management L L P NC boosted its stake in First Business Financial Services by 14.8% in the second quarter. Wedge Capital Management L L P NC now owns 12,929 shares of the financial services provider’s stock valued at $213,000 after acquiring an additional 1,665 shares during the last quarter. 64.79% of the stock is owned by institutional investors and hedge funds.

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. 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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Earnings History and Estimates for First Business Financial Services (NASDAQ:FBIZ)

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