First Business Financial Services (NASDAQ:FBIZ) Stock Price Expected to Rise, Keefe, Bruyette & Woods Analyst Says

First Business Financial Services (NASDAQ:FBIZ) had its target price upped by equities research analysts at Keefe, Bruyette & Woods from $58.00 to $60.00 in a research note issued to investors on Monday,Benzinga reports. The brokerage currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ target price suggests a potential upside of 10.91% from the company’s previous close.

A number of other analysts have also issued reports on the company. Piper Sandler decreased 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 note on Tuesday, October 29th. StockNews.com downgraded shares of First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Five analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company presently has an average rating of “Buy” and an average price target of $58.75.

First Business Financial Services Price Performance

Shares of NASDAQ FBIZ opened at $54.10 on Monday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. First Business Financial Services has a fifty-two week low of $32.56 and a fifty-two week high of $54.41. The stock’s 50-day simple moving average is $47.51 and its 200-day simple moving average is $45.56. The firm has a market capitalization of $449.03 million, a PE ratio of 10.36 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last released its earnings results on Thursday, January 30th. The financial services provider reported $1.43 EPS for the quarter, topping the consensus estimate 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%. As a group, equities research analysts forecast that First Business Financial Services will post 5.24 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director William Kent Lorenz sold 1,000 shares of the company’s 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 completion of the sale, the director now directly owns 8,341 shares in the company, valued at approximately $408,709. This represents a 10.71 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Corey A. Chambas sold 40,000 shares of First Business Financial Services stock in a transaction that occurred 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 completion of the transaction, the chief executive officer now directly owns 112,750 shares in the company, valued at approximately $5,503,327.50. This represents a 26.19 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. R Squared Ltd acquired a new position in First Business Financial Services in the fourth quarter valued at about $49,000. SG Americas Securities LLC acquired a new stake in First Business Financial Services in the 3rd quarter valued at about $125,000. Squarepoint Ops LLC bought a new position in shares of First Business Financial Services in the second quarter worth about $204,000. ERn Financial LLC acquired a new position in shares of First Business Financial Services during the third quarter worth approximately $210,000. Finally, Creative Planning bought a new stake in shares of First Business Financial Services during the third quarter valued at approximately $216,000. 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.