First Business Financial Services (NASDAQ:FBIZ) Given New $60.00 Price Target at Keefe, Bruyette & Woods

First Business Financial Services (NASDAQ:FBIZ) had its price objective boosted by Keefe, Bruyette & Woods from $58.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other research analysts also recently issued reports about the stock. StockNews.com downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Friday, January 24th. Piper Sandler lowered their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the stock presently has an average rating of “Buy” and a consensus target price of $56.25.

First Business Financial Services Trading Up 1.6 %

First Business Financial Services stock opened at $52.51 on Monday. The company has a 50 day moving average price of $47.48 and a 200 day moving average price of $45.48. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. First Business Financial Services has a 52 week low of $32.56 and a 52 week high of $53.79. The firm has a market capitalization of $435.83 million, a price-to-earnings ratio of 10.06 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating the consensus estimate of $1.27 by $0.16. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. Research analysts forecast that First Business Financial Services will post 5.24 EPS for the current year.

First Business Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be issued a dividend of $0.29 per share. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.21%. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.25. First Business Financial Services’s dividend payout ratio (DPR) is currently 19.16%.

Insider Activity at First Business Financial Services

In other news, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total value of $49,000.00. Following the transaction, the director now directly owns 8,341 shares in the company, valued at approximately $408,709. The trade was a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $48.81, for a total value of $1,952,400.00. Following the sale, the chief executive officer now owns 112,750 shares of the company’s stock, valued at approximately $5,503,327.50. The trade was a 26.19 % decrease in their position. The disclosure for this sale can be found here. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Squarepoint Ops LLC acquired a new position in First Business Financial Services during the 2nd quarter valued at $204,000. SG Americas Securities LLC bought a new stake in shares of First Business Financial Services in the third quarter valued at about $125,000. Creative Planning acquired a new stake in First Business Financial Services during the third quarter worth about $216,000. ERn Financial LLC bought a new position in First Business Financial Services during the third quarter valued at about $210,000. Finally, Beese Fulmer Investment Management Inc. acquired a new position in First Business Financial Services in the 3rd quarter valued at approximately $217,000. 60.07% of the stock is currently owned by institutional investors and hedge funds.

First Business Financial Services Company Profile

First Business Financial Services, Inc operates as the bank holding company for First Business Bank that provides commercial banking products and services for small and medium-sized businesses, business owners, executives, professionals, and high net worth individuals in Wisconsin, Kansas, and Missouri.