First Business Financial Services, Inc. (FBIZ) Cut to Strong Sell at Zacks Investment Research

First Business Financial Services, Inc. (NASDAQ:FBIZ) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a research note issued to investors on Wednesday.

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. “

FBIZ has been the topic of a number of other reports. TheStreet lowered First Business Financial Services from a “b” rating to a “c+” rating in a research note on Friday, July 28th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $25.00 price objective on shares of First Business Financial Services in a research note on Tuesday, October 3rd. Finally, ValuEngine upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Tuesday. One research analyst has rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company’s stock. The stock presently has a consensus rating of “Hold” and an average price target of $24.50.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, October 26th. The financial services provider reported $0.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.14). First Business Financial Services had a net margin of 12.63% and a return on equity of 7.23%. The company had revenue of $19.22 million for the quarter, compared to the consensus estimate of $20.00 million.

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In other First Business Financial Services news, Director Jerome J. Smith sold 1,250 shares of the company’s stock in a transaction dated Wednesday, September 6th. The stock was sold at an average price of $21.17, for a total value of $26,462.50. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charles H. Batson sold 2,300 shares of the company’s stock in a transaction dated Friday, August 4th. The stock was sold at an average price of $21.25, for a total value of $48,875.00. Following the completion of the transaction, the insider now owns 26,907 shares in the company, valued at $571,773.75. The disclosure for this sale can be found here. Insiders own 6.60% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the business. Bank of New York Mellon Corp increased its stake in First Business Financial Services by 5.1% in the 1st quarter. Bank of New York Mellon Corp now owns 45,227 shares of the financial services provider’s stock worth $1,174,000 after acquiring an additional 2,202 shares during the last quarter. Context BH Capital Management LP increased its stake in First Business Financial Services by 34.2% in the 2nd quarter. Context BH Capital Management LP now owns 36,000 shares of the financial services provider’s stock worth $831,000 after acquiring an additional 9,168 shares during the last quarter. Banc Funds Co. LLC increased its stake in First Business Financial Services by 3.0% in the 2nd quarter. Banc Funds Co. LLC now owns 786,198 shares of the financial services provider’s stock worth $18,145,000 after acquiring an additional 22,770 shares during the last quarter. Bessemer Group Inc. increased its stake in First Business Financial Services by 2.5% in the 2nd quarter. Bessemer Group Inc. now owns 12,100 shares of the financial services provider’s stock worth $279,000 after acquiring an additional 300 shares during the last quarter. Finally, California Public Employees Retirement System increased its stake in First Business Financial Services by 19.4% in the 1st quarter. California Public Employees Retirement System now owns 27,098 shares of the financial services provider’s stock worth $703,000 after acquiring an additional 4,400 shares during the last quarter. Institutional investors and hedge funds own 60.12% of the company’s stock.

First Business Financial Services Company Profile

First Business Financial Services, Inc (FBFS) is a bank holding company. The Company engages in the commercial banking business through its bank subsidiaries, which include First Business Bank (FBB), First Business Bank-Milwaukee (FBB-Milwaukee) and Alterra Bank (Alterra) (FBB and FBB-Milwaukee and, together with FBB, the Banks).

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