What is DA Davidson’s Forecast for FBIZ FY2024 Earnings?

First Business Financial Services, Inc. (NASDAQ:FBIZ) – Equities research analysts at DA Davidson lifted their FY2024 EPS estimates for First Business Financial Services in a report released on Monday, October 28th. DA Davidson analyst J. Rulis now anticipates that the financial services provider will earn $4.80 per share for the year, up from their prior estimate of $4.65. DA Davidson has a “Buy” rating and a $50.00 price objective on the stock. The consensus estimate for First Business Financial Services’ current full-year earnings is $4.70 per share. DA Davidson also issued estimates for First Business Financial Services’ Q4 2024 earnings at $1.30 EPS and FY2025 earnings at $5.30 EPS.

FBIZ has been the topic of a number of other research reports. 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 research report on Tuesday. StockNews.com cut shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Finally, Keefe, Bruyette & Woods reissued an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. One analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $50.00.

First Business Financial Services Stock Performance

Shares of FBIZ opened at $44.25 on Tuesday. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $366.79 million, a P/E ratio of 10.20 and a beta of 0.82. The firm’s fifty day simple moving average is $44.00 and its two-hundred day simple moving average is $39.35. First Business Financial Services has a 12 month low of $29.80 and a 12 month high of $47.23.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. The business had revenue of $66.39 million for the quarter, compared to analysts’ expectations of $38.80 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. During the same quarter in the prior year, the firm posted $1.17 earnings per share.

Hedge Funds Weigh In On First Business Financial Services

Several large investors have recently added to or reduced their stakes in the business. Price T Rowe Associates Inc. MD lifted its position in First Business Financial Services by 2.8% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock valued at $711,000 after acquiring an additional 524 shares in the last quarter. Lazard Asset Management LLC purchased a new stake in First Business Financial Services in the 1st quarter valued at about $60,000. BNP Paribas Financial Markets increased its stake in First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,659 shares during the last quarter. Bank of New York Mellon Corp increased its stake in First Business Financial Services by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock valued at $1,402,000 after buying an additional 1,998 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in First Business Financial Services in the 3rd quarter valued at about $125,000. Institutional investors own 60.07% 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.