First Business Bank Q2 EPS rises on loan, deposit growth
FBIZ•Key drivers behind the quarter
- Loan and deposit growth - Co said strong growth in loans and core deposits drove higher net interest income and supported record pre-tax, pre-provision earnings.
- Net interest margin expansion - Net interest margin increased due to higher prepayment and asset-based loan fees and redeployment of excess cash into loan growth.
- Non-interest income growth - Higher private wealth management fees and limited partnership investment income contributed to non-interest income growth.
Reported metrics and analyst coverage
| Metric | Actual |
|---|---|
| Q2 Operating Revenue | $46.71 mln |
| Q2 EPS | $1.84 |
| Q2 Net Interest Income | $38.14 mln |
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 5 "strong buy" or "buy", no "hold" and no "sell" or "strong sell".
The average consensus recommendation for the banks peer group is "buy".
Wall Street's median 12-month price target for First Business Financial Services Inc is $68.00, about above its July 29 closing price of .
