First Business Financial Services (NASDAQ:FBIZ) Raised to Buy at StockNews.com

First Business Financial Services (NASDAQ:FBIZ) was upgraded by equities research analysts at StockNews.com from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Monday.

Several other equities analysts also recently weighed in on FBIZ. Piper Sandler lowered their price target on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a report on Tuesday, October 29th. Keefe, Bruyette & Woods lifted 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, Raymond James increased their price target on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and a consensus target price of $58.75.

First Business Financial Services Price Performance

NASDAQ FBIZ opened at $54.10 on Monday. The business’s fifty day moving average is $47.51 and its 200 day moving average is $45.56. First Business Financial Services has a fifty-two week low of $32.56 and a fifty-two week high of $54.41. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The company 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 posted its quarterly earnings data 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 return on equity of 14.33% and a net margin of 16.86%. Sell-side analysts predict that First Business Financial Services will post 5.24 earnings per share for the current year.

Insider Buying and Selling

In other First Business Financial Services news, CEO Corey A. Chambas sold 40,000 shares of First Business Financial Services stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $48.81, for a total value of $1,952,400.00. Following the sale, the chief executive officer now owns 112,750 shares of the company’s stock, valued at $5,503,327.50. The trade was a 26.19 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total value of $49,000.00. Following the sale, the director now directly owns 8,341 shares in the company, valued at $408,709. This trade represents a 10.71 % 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.

Hedge Funds Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in FBIZ. First Business Financial Services Inc. lifted its holdings in shares of First Business Financial Services by 3.4% in the 3rd quarter. First Business Financial Services Inc. now owns 365,912 shares of the financial services provider’s stock valued at $16,682,000 after acquiring an additional 12,194 shares during the last quarter. Geode Capital Management LLC lifted its stake in shares of First Business Financial Services by 1.3% in the 3rd 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 boosted its holdings in shares of First Business Financial Services by 1.9% in 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 increased its position 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 purchasing an additional 20,183 shares during the last quarter. Finally, Empowered Funds LLC raised its holdings in First Business Financial Services by 5.0% during 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 owned by hedge funds and other 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.