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

First Business Financial Services (NASDAQ:FBIZ) was downgraded by investment analysts at StockNews.com from a “buy” rating to a “hold” rating in a research note issued to investors on Wednesday.

Several other analysts have also recently issued reports on FBIZ. 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 research report on Monday, August 5th. Keefe, Bruyette & Woods reiterated an “outperform” rating and set a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Finally, Piper Sandler increased their target price on First Business Financial Services from $44.00 to $56.00 and gave the stock an “overweight” rating in a research report on Monday, July 29th. One 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, First Business Financial Services has a consensus rating of “Moderate Buy” and a consensus target price of $50.75.

First Business Financial Services Stock Performance

Shares of FBIZ opened at $44.82 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.12. The business has a 50-day simple moving average of $43.92 and a two-hundred day simple moving average of $39.10. The stock has a market cap of $371.51 million, a price-to-earnings ratio of 10.33 and a beta of 0.82. First Business Financial Services has a 52 week low of $28.67 and a 52 week high of $47.23.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The business had revenue of $65.34 million during the quarter, compared to analysts’ expectations of $36.73 million. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. On average, analysts expect that First Business Financial Services will post 4.7 EPS for the current year.

Hedge Funds Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP lifted its stake in shares of First Business Financial Services by 1.5% in the 2nd quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider’s stock valued at $19,893,000 after purchasing an additional 7,871 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of First Business Financial Services by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock valued at $13,540,000 after purchasing an additional 7,499 shares during the last quarter. Quadrature Capital Ltd bought a new stake in shares of First Business Financial Services in the 1st quarter valued at approximately $247,000. Squarepoint Ops LLC bought a new stake in shares of First Business Financial Services in the 2nd quarter valued at approximately $204,000. Finally, Beese Fulmer Investment Management Inc. bought a new stake in shares of First Business Financial Services in the 3rd quarter valued at approximately $217,000. 60.07% of the stock is 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.