First Business Financial Services (FBIZ) Q2 Earnings: Taking a Look at Key Metrics Versus Estimates

Core Insights - First Business Financial Services (FBIZ) reported revenue of $37.97 million for the quarter ended June 2024, reflecting an 8.1% increase year-over-year and an EPS of $1.23, up from $0.98 in the same quarter last year [1] Financial Performance Metrics - The reported revenue exceeded the Zacks Consensus Estimate of $36.73 million by 3.35%, while the EPS surpassed the consensus estimate of $1.09 by 12.84% [3] - Efficiency ratio was reported at 62.8%, slightly better than the average estimate of 63.1% from three analysts [5] - Net Interest Margin was 3.7%, above the average estimate of 3.6% from three analysts [5] - Net Charge-off as a percentage of Average Loans was 0.2%, compared to the average estimate of 0.1% based on two analysts [5] - Total Average Interest-Earning Assets were reported at $3.35 billion, matching the average estimate from two analysts [5] - Net Interest Income was $30.54 million, exceeding the average estimate of $29.80 million from three analysts [5] - Total Non-Interest Income was $7.43 million, above the average estimate of $7.27 million from three analysts [5] - Private wealth management service fees reached $3.46 million, surpassing the average estimate of $3.10 million from two analysts [5] - Financial Services-Service charges on deposits were reported at $0.95 million, in line with the average estimate from two analysts [5] Stock Performance - Shares of First Business Financial Services have increased by 22.3% over the past month, contrasting with a -0.3% change in the Zacks S&P 500 composite [6] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [6]