Overview
First Business Q3 net income rises to $14.2 mln, driven by loan and deposit growth
EPS for Q3 increases to $1.70 from $1.24 yr/yr
Outlook
Company did not provide specific guidance for future quarters in press release
Result Drivers
LOAN AND DEPOSIT GROWTH - Co attributes Q3 earnings increase to 10% loan growth and 9% core deposit growth
RECORD FEE INCOME - Co reports record pre-tax, pre-provision earnings driven by record fee income
ASSET QUALITY IMPROVEMENT - Co notes 18% reduction in non-performing assets contributing to improved asset quality
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q3 Operating Revenue | $44.29 mln | ||
Q3 EPS | $1.70 | ||
Q3 Net Interest Income | $34.88 mln |
Analyst Coverage
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 $59.00, about 16% above its October 29 closing price of $49.58
Press Release: ID:nBw2skBhZa
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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)