First Business Financial Services (NASDAQ:FBIZ – Get an Assessment) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a research note released Friday, Zacks.com reports.
According to Zacks, “First Business Financial Services is the parent company of the First Business family of companies, which manages shareholder relations and provides access to capital to our operating entities. It provides its subsidiaries with profitable 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.
Separately, StockNews.com picked up coverage from First Business Financial Services in a Thursday, March 31 research report. They issued a “buy” rating on the stock. One financial analyst has assigned the stock a sell rating, one has issued a hold rating and two have assigned the company a buy rating. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $33.50.
The NASDAQ FBIZ traded down $0.34 during Friday trading hours, hitting $34.67. The company had a trading volume of 31,705 shares, compared to an average volume of 18,028. The company’s 50-day moving average is $32.88 and its 200-day moving average is $31.26. The company has a market capitalization of $292.13 million, a price-earnings ratio of 8.35 and a beta of 0.81. First Business Financial Services has a fifty-two week minimum of $25.50 and a fifty-two week maximum of $35.27. The company has a debt ratio of 1.78, a current ratio of 1.17 and a quick ratio of 1.17.
First Business Financial Services (NASDAQ:FBIZ – Get Rating) last announced its results on Thursday, April 28. The financial services provider reported earnings per share (EPS) of $1.02 for the quarter, beating the Zacks consensus estimate of $0.91 by $0.11. First Business Financial Services achieved a return on equity of 16.00% and a net margin of 28.81%. On average, stock analysts expect First Business Financial Services to post an EPS of 3.68 for the current year.
In other news from First Business Financial Services, Director Carla C. Chavarria bought 755 shares in a trade on Thursday, April 14. The shares were purchased at an average price of $33.27 per share, with a total value of $25,118.85. Following the acquisition, the director now directly owns 3,966 shares of the company, valued at approximately $131,948.82. The transaction was disclosed in a legal filing with the SEC, accessible via this hyperlink. Insiders of the company hold 6.10% of the shares of the company.
A number of institutional investors have recently changed their holdings in FBIZ. Lazard Asset Management LLC acquired a new stake in First Business Financial Services during the 4th quarter for a value of approximately $26,000. Hillsdale Investment Management Inc. increased its stake in shares of First Business Financial Services by 30.0% in the 4th quarter. Hillsdale Investment Management Inc. now owns 2,600 shares of the financial services provider valued at $76,000 after purchasing an additional 600 shares during the period. Russell Investments Group Ltd. increased its stake in shares of First Business Financial Services by 105.5% in the 4th quarter. Russell Investments Group Ltd. now owns 3,905 shares of the financial services provider valued at $113,000 after purchasing an additional 2,005 shares during the period. JPMorgan Chase & Co. bought a new position in shares of First Business Financial Services in the 4th quarter for a value of $140,000. Finally, Trexquant Investment LP acquired a new stake in the shares of First Business Financial Services during the third quarter at a value of $234,000. 58.29% of the shares are currently held by hedge funds and other institutional investors.
About First Business Financial Services (Get a rating)
First Business Financial Services, Inc operates as a banking holding company for First Business Bank which provides commercial banking products and services to 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, term deposits and certificates of deposit, as well as credit cards.
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