First Business Financial Services (NASDAQ:FBIZ) Announces Quarterly Earnings Results

First Business Financial Services (NASDAQ:FBIZ) released its quarterly earnings results on Thursday. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate 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

First Business Financial Services stock traded up $0.77 during trading hours on Thursday, hitting $49.55. 24,080 shares of the stock traded hands, compared to its average volume of 27,612. The firm’s 50 day moving average price is $47.47 and its 200-day moving average price is $45.31. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. The stock has a market capitalization of $411.27 million, a price-to-earnings 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.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. StockNews.com downgraded First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Piper Sandler cut their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Finally, Keefe, Bruyette & Woods increased their price objective on shares of First Business Financial Services from $53.00 to $58.00 and gave the company an “outperform” rating in a research report on Wednesday, December 4th.

Insider Transactions at First Business Financial Services

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of the 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 sale, the director now directly owns 8,341 shares of the company’s stock, valued at approximately $408,709. This trade represents a 10.71 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Corey A. Chambas sold 40,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. This trade represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.30% of the company’s stock.

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.