First Business Financial Services (NASDAQ:FBIZ) Lifted to “Buy” at StockNews.com

First Business Financial Services (NASDAQ:FBIZ) was upgraded by investment analysts at StockNews.com from a “hold” rating to a “buy” rating in a report issued on Thursday.

Other analysts have also issued research reports about the stock. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and set a $51.00 price objective (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. Piper Sandler boosted their price objective on First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a research note on Monday, July 29th. Finally, DA Davidson upgraded First Business Financial Services from a “neutral” rating to a “buy” rating and increased their target price for the stock from $36.00 to $50.00 in a report on Monday, August 5th. Five analysts have rated the stock with a buy rating, According to MarketBeat, the company has an average rating of “Buy” and a consensus target price of $50.75.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ opened at $42.15 on Thursday. The company has a debt-to-equity ratio of 1.12, a current ratio of 1.08 and a quick ratio of 1.07. The business’s fifty day moving average price is $43.33 and its two-hundred day moving average price is $38.44. First Business Financial Services has a fifty-two week low of $28.35 and a fifty-two week high of $47.23. The stock has a market capitalization of $349.38 million, a price-to-earnings ratio of 9.71 and a beta of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share for the quarter, topping the consensus estimate of $1.09 by $0.14. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The business had revenue of $65.34 million for the quarter, compared to analyst estimates of $36.73 million. As a group, analysts predict that First Business Financial Services will post 4.71 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its position in shares of First Business Financial Services by 1.5% during the second quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock worth $19,893,000 after acquiring an additional 7,871 shares during the last quarter. Vanguard Group Inc. raised its holdings in First Business Financial Services by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock worth $13,540,000 after purchasing an additional 7,499 shares during the last quarter. Quadrature Capital Ltd acquired a new position in First Business Financial Services during the 1st quarter valued at about $247,000. Squarepoint Ops LLC bought a new position in shares of First Business Financial Services in the 2nd quarter valued at about $204,000. Finally, First Business Financial Services Inc. grew its position in shares of First Business Financial Services by 1.2% during the 2nd quarter. First Business Financial Services Inc. now owns 353,718 shares of the financial services provider’s stock worth $13,084,000 after buying an additional 4,196 shares during the period. 60.07% of the stock is currently owned by institutional investors.

About First Business Financial Services

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.