First Business Financial Services (FBIZ) Rating Lowered to Hold at Zacks Investment Research

Zacks Investment Research downgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a buy rating to a hold rating in a research note published on Tuesday morning.

According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “

A number of other brokerages have also issued reports on FBIZ. ValuEngine upgraded shares of First Business Financial Services from a sell rating to a hold rating in a research report on Wednesday, November 28th. TheStreet lowered shares of First Business Financial Services from a b- rating to a c+ rating in a research report on Thursday, October 25th. Two analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. The stock currently has a consensus rating of Buy and an average target price of $26.00.



Shares of FBIZ traded down $0.30 during mid-day trading on Tuesday, reaching $20.60. 15,954 shares of the company’s stock were exchanged, compared to its average volume of 10,363. The company has a debt-to-equity ratio of 1.64, a current ratio of 1.16 and a quick ratio of 1.16. First Business Financial Services has a 52-week low of $18.76 and a 52-week high of $26.95. The stock has a market cap of $185.10 million, a price-to-earnings ratio of 15.26, a price-to-earnings-growth ratio of 1.29 and a beta of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, October 25th. The financial services provider reported $0.60 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.50 by $0.10. First Business Financial Services had a net margin of 15.76% and a return on equity of 9.38%. The business had revenue of $21.97 million during the quarter, compared to analysts’ expectations of $21.00 million. On average, equities analysts expect that First Business Financial Services will post 1.88 earnings per share for the current fiscal year.

In other news, Director Gerald L. Kilcoyne bought 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, December 20th. The shares were purchased at an average price of $19.99 per share, for a total transaction of $99,950.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In the last 90 days, insiders have purchased 6,240 shares of company stock worth $124,910. 6.20% of the stock is owned by company insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in FBIZ. Rhumbline Advisers acquired a new stake in First Business Financial Services during the second quarter worth approximately $209,000. Macquarie Group Ltd. acquired a new stake in First Business Financial Services during the second quarter worth approximately $222,000. Zacks Investment Management acquired a new stake in First Business Financial Services during the second quarter worth approximately $315,000. OppenheimerFunds Inc. boosted its position in First Business Financial Services by 24.8% during the second quarter. OppenheimerFunds Inc. now owns 14,358 shares of the financial services provider’s stock worth $373,000 after acquiring an additional 2,856 shares during the last quarter. Finally, Millennium Management LLC acquired a new stake in First Business Financial Services during the second quarter worth approximately $580,000. Hedge funds and other institutional investors own 62.90% of the company’s stock.

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's deposit products include non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, and time deposits, as well as certificates of deposit.

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