First Business Financial Services (NASDAQ:FBIZ) Posts Earnings Results, Beats Estimates By $0.16 EPS

First Business Financial Services (NASDAQ:FBIZ) released its earnings results on Thursday. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16, Zacks reports. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%.

First Business Financial Services Trading Up 1.6 %

Shares of FBIZ stock traded up $0.77 on Thursday, reaching $49.55. The company had a trading volume of 24,080 shares, compared to its average volume of 27,612. The stock has a market cap of $411.27 million, a PE ratio of 10.63 and a beta of 0.87. The company has a 50-day moving average of $47.47 and a 200-day moving average of $45.31. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services has a 12 month low of $32.56 and a 12 month high of $52.22.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the stock. Piper Sandler dropped 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. Keefe, Bruyette & Woods upped their price objective on shares of First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 4th. Finally, StockNews.com lowered shares of First Business Financial Services from a “buy” rating to a “hold” rating in a report on Friday, January 24th.

Insider Buying and Selling

In other news, CEO Corey A. Chambas sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.81, for a total value of $1,952,400.00. Following the completion of the transaction, the chief executive officer now owns 112,750 shares in the company, valued at $5,503,327.50. This represents a 26.19 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction on 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 $408,709. This represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. 6.30% of the stock is owned by insiders.

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.