First Business Financial Services (NASDAQ:FBIZ) Upgraded at StockNews.com

StockNews.com upgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a hold rating to a buy rating in a report released on Monday.

Other research analysts have also issued reports about the company. Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday. Piper Sandler cut their target price on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a research note on Tuesday, October 29th. Finally, Raymond James raised their price target on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and a consensus price target of $58.75.

First Business Financial Services Stock Performance

Shares of FBIZ opened at $54.81 on Monday. The company has a market capitalization of $454.92 million, a PE ratio of 10.50 and a beta of 0.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. First Business Financial Services has a one year low of $32.56 and a one year high of $54.95. The company’s fifty day moving average price is $47.57 and its 200 day moving average price is $45.66.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) 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%. As a group, analysts expect that First Business Financial Services will post 5.24 earnings per share for the current year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 28th. Stockholders of record on Friday, February 14th will be given a dividend of $0.29 per share. The ex-dividend date of this dividend is Friday, February 14th. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.25. This represents a $1.16 dividend on an annualized basis and a dividend yield of 2.12%. First Business Financial Services’s payout ratio is currently 19.16%.

Insider Activity at First Business Financial Services

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total value of $49,000.00. Following the sale, the director now owns 8,341 shares of the company’s stock, valued at $408,709. The trade was a 10.71 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 6.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in FBIZ. First Business Financial Services Inc. increased its stake in First Business Financial Services by 3.4% in the third quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock valued at $16,682,000 after acquiring an additional 12,194 shares during the period. JPMorgan Chase & Co. boosted its holdings in First Business Financial Services by 307.1% during the third quarter. JPMorgan Chase & Co. now owns 24,468 shares of the financial services provider’s stock valued at $1,115,000 after purchasing an additional 18,458 shares in the last quarter. De Lisle Partners LLP grew its stake in shares of First Business Financial Services by 43.3% in the 3rd quarter. De Lisle Partners LLP now owns 66,774 shares of the financial services provider’s stock valued at $3,040,000 after purchasing an additional 20,183 shares during the period. Barclays PLC raised its holdings in shares of First Business Financial Services by 43.8% in the 3rd quarter. Barclays PLC now owns 27,909 shares of the financial services provider’s stock worth $1,273,000 after buying an additional 8,497 shares in the last quarter. Finally, Segall Bryant & Hamill LLC bought a new position in shares of First Business Financial Services during the 3rd quarter worth approximately $1,657,000. 60.07% of the stock is owned by institutional investors.

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.