First Business Financial reports Q2 EPS $1.35, consensus $1.33

Written by Emily J. Thompson, Senior Investment Analyst

FBIZ-2.03%

Updated: Jul 24 2025

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Financial Performance: First Business Bank reported a 10.6% increase in net interest income to $33.8 million, with significant growth in loans (over 8%) and core deposits (11%), leading to a 10% rise in operating revenue and a 17% increase in net income for the first half of 2025.
Strategic Growth: CEO Corey Chambas highlighted the bank's successful execution of its relationship-based growth strategy, resulting in improved asset quality and operational efficiency, as well as a 14% increase in tangible book value from the previous year.

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FBIZ

$55.44+Infinity%1D

Analyst Views on FBIZ

Wall Street analysts forecast FBIZ stock price to rise over the next 12 months. According to Wall Street analysts, the average 1-year price target for FBIZ is 61.00 USD with a low forecast of 61.00 USD and a high forecast of 61.00 USD. However, analyst price targets are subjective and often lag stock prices, so investors should focus on the objective reasons behind analyst rating changes, which better reflect the company's fundamentals.

1 Analyst Rating

1 Buy

0 Hold

0 Sell

Moderate Buy

Current: 56.590

Low

61.00

Averages

61.00

High

61.00

Current: 56.590

Low

61.00

Averages

61.00

High

61.00

Piper Sandler

Overweight

maintain

$58 -> $61

2025-11-04

Reason

Piper Sandler

Price Target

$58 -> $61

AI Analysis

2025-11-04

maintain

Overweight

Reason

Piper Sandler raised the firm's price target on First Business Financial to $61 from $58 and keeps an Overweight rating on the shares following strong Q3 results that included 8% PPNR upside driven by stronger core fee income and solid improvement in credit quality metrics. In Piper's view, First Business is well-positioned for price to earnings expansion above peers via continued above average operating leverage with additional high single digit growth in both loans and core deposits as well as with its relatively stable adjusted net interest margin outlook aided by management's well-calculated match funded balance sheet approach. The firm anticipates these factors should drive continued superior TBV growth.

Piper Sandler

Nathan Race

Overweight

maintain

$55 -> $58

2025-07-29

Reason

Piper Sandler

Nathan Race

Price Target

$55 -> $58

2025-07-29

maintain

Overweight

Reason

Piper Sandler analyst Nathan Race raised the firm's price target on First Business Financial to $58 from $55 and keeps an Overweight rating on the shares. The firm believes First Business Financial generated a solid Q2 and was surprised to see shares underperform recently. While PPNR was 2% light primarily on softer SBA revenue, First Business Financial posted stronger net interest income with continued robust high-single-digit balance sheet growth, including high-single-digit core deposit gathering. Piper believes First Business Financial is well-positioned for price to earnings expansion closer to peers via strong operating leverage that is aided by its more durable net interest margin outlook, which should also support continued superior TBV growth.

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About FBIZ

First Business Financial Services, Inc. is a bank holding company. It is engaged in the commercial banking business through its bank subsidiary, First Business Bank (the Bank). The Bank operates as a business bank, delivering a full line of commercial banking products and services tailored to meet the specific needs of small and medium-sized businesses, business owners, executives, professionals, and high-net-worth individuals. Its products and services are focused on business banking, private wealth, and bank consulting. Within business banking, it offers commercial real estate lending, commercial and industrial lending, asset-based lending, accounts receivable financing, equipment financing, floorplan financing, vendor financing, small business administration lending and servicing, treasury management solutions and company retirement services. Its private wealth management services include trust and estate administration, financial planning, investment management and private banking.

About the author

Emily J. Thompson

Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.