First Business Financial Services, Inc.

NasdaqGS:FBIZ Stock Report

Mkt Cap: US$304.0m

We’ve recently updated our valuation analysis.

First Business Financial Services Valuation

Is FBIZ undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

4/6

Valuation Score 4/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for FBIZ?

Other financial metrics that can be useful for relative valuation.

FBIZ key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenuen/a
Enterprise Value/EBITDAn/a
PEG Ratio-2.6x

Price to Earnings Ratio vs Peers

How does FBIZ's PE Ratio compare to its peers?

The above table shows the PE ratio for FBIZ vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average7.4x
BCBP BCB Bancorp
6.8x5.6%US$303.0m
UNTY Unity Bancorp
7.6x7.1%US$290.6m
PCB PCB Bancorp
7.9x5.4%US$274.8m
CBNK Capital Bancorp
7.4x-2.5%US$309.1m
FBIZ First Business Financial Services
7.6x-2.9%US$304.0m

Price-To-Earnings vs Peers: FBIZ is expensive based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (7.4x).


Price to Earnings Ratio vs Industry

How does FBIZ's PE Ratio compare vs other companies in the US Banks Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a5.8%
n/an/an/a

Price-To-Earnings vs Industry: FBIZ is good value based on its Price-To-Earnings Ratio (7.6x) compared to the US Banks industry average (9.8x)


Price to Earnings Ratio vs Fair Ratio

What is FBIZ's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

FBIZ PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.6x
Fair PE Ratio8.4x

Price-To-Earnings vs Fair Ratio: FBIZ is good value based on its Price-To-Earnings Ratio (7.6x) compared to the estimated Fair Price-To-Earnings Ratio (8.4x).


Share Price vs Fair Value

What is the Fair Price of FBIZ when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: FBIZ ($36.36) is trading below our estimate of fair value ($52.15)

Significantly Below Fair Value: FBIZ is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst FBIZ forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentUS$36.36
US$41.25
+13.4%
3.6%US$43.00US$39.00n/a4
Jan ’24US$36.55
US$41.25
+12.9%
3.6%US$43.00US$39.00n/a4
Dec ’23US$38.47
US$41.25
+7.2%
3.6%US$43.00US$39.00n/a4
Nov ’23US$38.73
US$41.25
+6.5%
3.6%US$43.00US$39.00n/a4
Oct ’23US$32.31
US$40.00
+23.8%
7.7%US$43.00US$35.00n/a4
Sep ’23US$33.40
US$40.00
+19.8%
7.7%US$43.00US$35.00n/a4
Aug ’23US$32.68
US$39.50
+20.9%
7.3%US$43.00US$35.00n/a4
Jul ’23US$31.61
US$39.25
+24.2%
8.3%US$43.00US$34.00n/a4
Jun ’23US$35.21
US$40.00
+13.6%
3.5%US$42.00US$38.00n/a4
May ’23US$34.67
US$38.50
+11.0%
6.0%US$42.00US$36.00n/a4
Apr ’23US$32.82
US$38.00
+15.8%
4.2%US$40.00US$36.00n/a4
Mar ’23US$32.07
US$37.40
+16.6%
5.0%US$40.00US$35.00n/a5
Feb ’23US$33.66
US$36.60
+8.7%
5.1%US$40.00US$35.00US$35.855
Jan ’23US$29.17
US$34.00
+16.6%
4.2%US$36.00US$32.00US$36.555
Dec ’22US$28.77
US$34.00
+18.2%
4.2%US$36.00US$32.00US$38.475
Nov ’22US$30.02
US$33.60
+11.9%
4.0%US$36.00US$32.00US$38.735
Oct ’22US$29.08
US$32.20
+10.7%
4.6%US$34.00US$30.00US$32.315
Sep ’22US$27.90
US$32.20
+15.4%
4.6%US$34.00US$30.00US$33.405
Aug ’22US$27.58
US$32.00
+16.0%
4.4%US$34.00US$30.00US$32.685
Jul ’22US$28.14
US$31.60
+12.3%
6.5%US$34.00US$28.00US$31.615
Jun ’22US$27.77
US$31.20
+12.4%
6.5%US$34.00US$28.00US$35.215
May ’22US$26.46
US$28.00
+5.8%
8.7%US$31.00US$24.00US$34.675
Apr ’22US$25.13
US$26.80
+6.6%
10.4%US$31.00US$24.00US$32.825
Mar ’22US$22.77
US$23.10
+1.4%
9.1%US$26.00US$20.00US$32.075
Feb ’22US$19.91
US$22.50
+13.0%
9.7%US$26.00US$20.00US$33.665

Analyst Forecast: Target price is less than 20% higher than the current share price.


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