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First Business Financial Services (FBIZ)
NASDAQ:FBIZ
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Earnings Data
Report Date
Jan 23, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
$1.27Last Year’s EPS
$1.15Same Quarter Last Year
Moderate Buy
Based on 2 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Oct 24, 2024
|% Change Since: 3.01%
|Next Earnings Date:Jan 23, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong loan and deposit growth, stable net interest margins, and growth in Private Wealth Management, indicating robust financial health. However, challenges persist in the transportation sector and SBA loan gains falling short of expectations. Overall, the positive metrics significantly outweigh the challenges.Company Guidance
During the First Business Financial Services Q3 2024 earnings call, the guidance highlighted several key metrics reflecting the company's strong financial performance and strategic direction. The company reported a 10% increase in loan balances, amounting to approximately $286 million, and a 12% rise in deposits, equating to $313 million, compared to the same period last year. The net interest margin remained stable, with an adjusted net interest margin (core margin) of 3.51% and a reported net interest margin of 3.64% for the quarter. Additionally, private wealth assets under management grew 17% year-over-year to $3.4 billion, generating $3.3 million in fee income, marking an 11% increase from the previous year's third quarter. The company aims to maintain a net interest margin in the range of 3.60% to 3.65% and achieve long-term goals of 10% annual growth in tangible book value per share, along with a return on average tangible common equity of 15% or more by 2028. The call also emphasized the continued growth in niche areas like Accounts Receivable Financing and the focus on strategic initiatives such as AI training and digital transformation to enhance operational efficiency.Strong Loan and Deposit Growth
Loan balances grew approximately $286 million over the same period last year, up more than 10%, and deposits grew $313 million or nearly 12% from the third quarter last year.
Stable Net Interest Margin
The net interest margin remained stable in the range of 3.60% to 3.65%, demonstrating effective management in a competitive environment.
Private Wealth Management Growth
Private Wealth assets under management and administration grew to $3.4 billion, marking a growth of 17% from the prior year, generating $3.3 million in fee income, up 11% from the third quarter of last year.
Robust Capital Position
Issuance of $20 million in sub debt boosted Tier 2 capital, increasing the total capital ratio by 15 basis points.
Positive Trends in Profitability Metrics
Return on average tangible common equity expanded, with tangible book value per share growing by 9.7% annualized from the linked quarter and 12.5% from the prior year quarter.
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FBIZ Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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FBIZ Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Oct 24, 2024 | $44.60 | $42.68 | -4.30% |
| Jul 25, 2024 | $43.01 | $45.18 | +5.05% |
| Apr 25, 2024 | $33.28 | $33.62 | +1.02% |
| Jan 25, 2024 | $37.88 | $38.56 | +1.80% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does First Business Financial Services (FBIZ) report earnings?
First Business Financial Services (FBIZ) is schdueled to report earning on Jan 23, 2025, TBA Not Confirmed.
What is First Business Financial Services (FBIZ) earnings time?
First Business Financial Services (FBIZ) earnings time is at Jan 23, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is FBIZ EPS forecast?
FBIZ EPS forecast for the fiscal quarter 2024 (Q4) is $1.27.
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