First Business Financial Services (NASDAQ:FBIZ) Price Target Lowered to $53.00 at Piper Sandler

First Business Financial Services (NASDAQ:FBIZ) had its price objective cut by Piper Sandler from $56.00 to $53.00 in a report issued on Tuesday morning, Benzinga reports. They currently have an overweight rating on the financial services provider’s stock.

FBIZ has been the topic of a number of other reports. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $51.00 price target (up from $48.00) on shares of First Business Financial Services in a research note on Monday, July 29th. DA Davidson upgraded shares of First Business Financial Services from a “neutral” rating to a “buy” rating and upped their target price for the stock from $36.00 to $50.00 in a research report on Monday, August 5th. Finally, StockNews.com downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research report on Wednesday, October 23rd. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has a consensus rating of “Buy” and a consensus price target of $50.00.

First Business Financial Services Price Performance

Shares of NASDAQ:FBIZ opened at $43.18 on Tuesday. First Business Financial Services has a 52 week low of $31.39 and a 52 week high of $47.23. The company has a 50-day moving average price of $44.00 and a 200 day moving average price of $39.48. The company has a market cap of $358.39 million, a P/E ratio of 9.27 and a beta of 0.82. The company has a quick ratio of 1.07, a current ratio of 1.09 and a debt-to-equity ratio of 1.16.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, October 24th. The financial services provider reported $1.24 EPS for the quarter, beating the consensus estimate of $1.20 by $0.04. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. The business had revenue of $66.39 million during the quarter, compared to analysts’ expectations of $38.80 million. During the same period last year, the firm earned $1.17 EPS. Research analysts predict that First Business Financial Services will post 4.76 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th will be issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 2.32%. The ex-dividend date of this dividend is Thursday, November 7th. First Business Financial Services’s dividend payout ratio (DPR) is presently 21.46%.

Insider Activity

In related news, CEO James Edward Hartlieb sold 6,344 shares of First Business Financial Services stock in a transaction that occurred on Thursday, October 31st. The stock was sold at an average price of $43.15, for a total transaction of $273,743.60. Following the completion of the transaction, the chief executive officer now directly owns 28,162 shares in the company, valued at $1,215,190.30. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Price T Rowe Associates Inc. MD grew its holdings in shares of First Business Financial Services by 2.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock worth $711,000 after buying an additional 524 shares in the last quarter. Lazard Asset Management LLC acquired a new stake in First Business Financial Services in the 1st quarter worth about $60,000. BNP Paribas Financial Markets grew its holdings in First Business Financial Services by 73.1% in the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after buying an additional 1,659 shares during the period. Bank of New York Mellon Corp grew its holdings in First Business Financial Services by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock valued at $1,402,000 after buying an additional 1,998 shares during the period. Finally, SG Americas Securities LLC acquired a new position in shares of First Business Financial Services during the 3rd quarter valued at about $125,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

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.