Piper Sandler Forecasts Strong Price Appreciation for First Business Financial Services (NASDAQ:FBIZ) Stock

First Business Financial Services (NASDAQ:FBIZ) had its price target lifted by equities researchers at Piper Sandler from $58.00 to $63.00 in a research report issued to clients and investors on Tuesday,Benzinga reports. The firm currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would suggest a potential upside of 14.94% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday. Keefe, Bruyette & Woods lifted their target price on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. Finally, Raymond James upped their price target on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. Five equities research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and a consensus target price of $58.75.

First Business Financial Services Trading Up 1.3 %

NASDAQ FBIZ opened at $54.81 on Tuesday. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. The stock’s 50-day moving average is $47.57 and its 200-day moving average is $45.66. First Business Financial Services has a one year low of $32.56 and a one year high of $54.95. The firm has a market cap of $454.92 million, a P/E ratio of 10.50 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results 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 net margin of 16.86% and a return on equity of 14.33%. Sell-side analysts anticipate that First Business Financial Services will post 5.24 earnings per share for the current fiscal year.

Insider Activity

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the completion of the transaction, the director now directly owns 8,341 shares of the company’s stock, valued at $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 available through this hyperlink. Insiders own 6.20% of the company’s stock.

Institutional Trading of First Business Financial Services

Hedge funds have recently modified their holdings of the stock. R Squared Ltd acquired a new position in First Business Financial Services in the 4th quarter valued at about $49,000. SG Americas Securities LLC acquired a new position in shares of First Business Financial Services in the third quarter valued at approximately $125,000. Squarepoint Ops LLC bought a new position in shares of First Business Financial Services during the second quarter worth approximately $204,000. ERn Financial LLC acquired a new stake in First Business Financial Services during the 3rd quarter worth approximately $210,000. Finally, Creative Planning bought a new stake in First Business Financial Services in the 3rd quarter valued at $216,000. 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.