First Business Financial Services (NASDAQ:FBIZ) Cut to Hold at StockNews.com

StockNews.com cut shares of First Business Financial Services (NASDAQ:FBIZ) from a buy rating to a hold rating in a research note published on Friday.

Other research analysts also recently issued reports about the company. Keefe, Bruyette & Woods raised their price objective on First Business Financial Services from $53.00 to $58.00 and gave the stock an “outperform” rating in a report on Wednesday, December 4th. Piper Sandler dropped their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research note on Tuesday, October 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $51.75.

First Business Financial Services Trading Up 0.7 %

FBIZ opened at $47.50 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The stock’s 50 day moving average price is $47.53 and its 200-day moving average price is $45.07. First Business Financial Services has a one year low of $32.56 and a one year high of $52.22. The stock has a market cap of $394.25 million, a price-to-earnings ratio of 10.19 and a beta of 0.87.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings data 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. The company had revenue of $66.39 million for the quarter, compared to the consensus estimate of $38.80 million. First Business Financial Services had a return on equity of 13.70% and a net margin of 15.46%. During the same quarter in the prior year, the company posted $1.17 EPS. On average, equities analysts forecast that First Business Financial Services will post 4.78 EPS for the current year.

Insiders Place Their Bets

In other news, Director William Kent Lorenz sold 1,000 shares of the 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 in the company, valued at $408,709. This represents a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Corey A. Chambas sold 40,000 shares of the business’s stock in a transaction on Thursday, November 7th. The shares were sold at an average price of $48.81, for a total transaction of $1,952,400.00. Following the transaction, the chief executive officer now owns 112,750 shares of the company’s stock, valued at $5,503,327.50. This represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 47,344 shares of company stock valued at $2,275,144. Insiders own 6.30% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the company. R Squared Ltd purchased a new stake in shares of First Business Financial Services during the fourth quarter worth about $49,000. SG Americas Securities LLC grew its holdings in shares of First Business Financial Services by 24.8% during the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock worth $158,000 after buying an additional 679 shares in the last quarter. JPMorgan Chase & Co. boosted its position 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 worth $1,115,000 after acquiring an additional 18,458 shares during the last quarter. Barclays PLC grew its stake in First Business Financial Services by 43.8% during the 3rd quarter. Barclays PLC now owns 27,909 shares of the financial services provider’s stock valued at $1,273,000 after acquiring an additional 8,497 shares in the last quarter. Finally, Geode Capital Management LLC lifted its stake in First Business Financial Services by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock worth $7,907,000 after purchasing an additional 2,200 shares in the last quarter. 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.