First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $62.00

First Business Financial Services (NASDAQ:FBIZ) had its price target increased by Raymond James from $52.00 to $62.00 in a research note issued to investors on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Raymond James’ price objective suggests a potential upside of 14.60% from the company’s previous close.

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

First Business Financial Services Stock Up 3.0 %

Shares of NASDAQ FBIZ opened at $54.10 on Monday. First Business Financial Services has a 12-month low of $32.56 and a 12-month high of $54.41. The stock’s fifty day simple moving average is $47.51 and its two-hundred day simple moving average is $45.56. The stock has a market capitalization of $449.03 million, a PE ratio of 10.36 and a beta of 0.88. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating analysts’ consensus estimates 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 EPS for the current fiscal year.

Insider Buying and Selling

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of the business’s stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the sale, the director now owns 8,341 shares in the company, valued at approximately $408,709. The trade was a 10.71 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Corey A. Chambas sold 40,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now directly owns 112,750 shares in the company, 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. 6.20% of the stock is owned by company insiders.

Institutional Trading of First Business Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of FBIZ. First Business Financial Services Inc. increased its stake in shares of 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 worth $16,682,000 after acquiring an additional 12,194 shares during the period. Geode Capital Management LLC boosted its holdings in First Business Financial Services by 1.3% in the third quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock valued at $7,907,000 after purchasing an additional 2,200 shares during the last quarter. State Street Corp grew its position in First Business Financial Services by 1.9% during the 3rd quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock worth $6,232,000 after purchasing an additional 2,607 shares during the period. De Lisle Partners LLP raised its stake in shares of First Business Financial Services by 43.3% during 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 buying an additional 20,183 shares during the last quarter. Finally, Empowered Funds LLC lifted its holdings in shares of First Business Financial Services by 5.0% in the 4th quarter. Empowered Funds LLC now owns 45,021 shares of the financial services provider’s stock valued at $2,084,000 after buying an additional 2,156 shares during the period. 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.