Zacks Investment Research downgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a buy rating to a hold rating in a research report sent to investors on Thursday, Zacks.com reports.
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 research firms have also recently issued reports on FBIZ. ValuEngine cut shares of Zosano Pharma from a buy rating to a hold rating in a research report on Wednesday, May 1st. DA Davidson decreased their price objective on shares of Carter’s to $91.00 and set an average rating on the stock in a research report on Tuesday, July 9th. Finally, TheStreet cut shares of Upland Software from a b- rating to a c+ rating in a research report on Wednesday, July 10th. Three research analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. First Business Financial Services currently has an average rating of Hold and a consensus price target of $27.00.
First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, April 25th. The financial services provider reported $0.67 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.45 by $0.22. First Business Financial Services had a net margin of 16.22% and a return on equity of 10.35%. The firm had revenue of $22.39 million for the quarter, compared to analysts’ expectations of $21.43 million. On average, research analysts expect that First Business Financial Services will post 2.27 EPS for the current fiscal year.
In related news, Director William Kent Lorenz sold 2,000 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $23.10, for a total transaction of $46,200.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, General Counsel Barbara Mccarty Conley sold 5,000 shares of the business’s stock in a transaction dated Tuesday, April 30th. The shares were sold at an average price of $23.19, for a total transaction of $115,950.00. Following the transaction, the general counsel now owns 31,161 shares in the company, valued at approximately $722,623.59. The disclosure for this sale can be found here. 5.30% of the stock is owned by insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in FBIZ. Context BH Capital Management LP increased its position in shares of First Business Financial Services by 141.6% during the fourth quarter. Context BH Capital Management LP now owns 148,282 shares of the financial services provider’s stock valued at $2,893,000 after buying an additional 86,914 shares during the period. Pacific Ridge Capital Partners LLC increased its position in shares of First Business Financial Services by 21.6% during the first quarter. Pacific Ridge Capital Partners LLC now owns 156,076 shares of the financial services provider’s stock valued at $3,125,000 after buying an additional 27,772 shares during the period. M3F Inc. boosted its stake in First Business Financial Services by 12.1% during the first quarter. M3F Inc. now owns 253,956 shares of the financial services provider’s stock worth $5,084,000 after acquiring an additional 27,490 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in First Business Financial Services by 7.8% during the fourth quarter. Dimensional Fund Advisors LP now owns 354,548 shares of the financial services provider’s stock worth $6,917,000 after acquiring an additional 25,757 shares in the last quarter. Finally, Nicolet Advisory Services LLC bought a new stake in First Business Financial Services during the first quarter worth about $378,000. Institutional investors own 62.64% 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 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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