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

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

Several other equities research analysts have also weighed in on the company. StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday. Raymond James upped their price objective on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Keefe, Bruyette & Woods boosted their target price on shares of First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a research report on Monday. Five analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $58.75.

First Business Financial Services Stock Performance

Shares of First Business Financial Services stock opened at $54.81 on Tuesday. The company has a quick ratio of 1.08, a current ratio of 1.09 and a debt-to-equity ratio of 1.16. First Business Financial Services has a 12 month low of $32.56 and a 12 month high of $54.95. The business has a fifty day simple moving average of $47.57 and a 200-day simple moving average of $45.66. The stock has a market cap of $454.92 million, a PE ratio of 10.50 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share for the quarter, beating 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%. On average, sell-side analysts anticipate that First Business Financial Services will post 5.24 EPS for the current fiscal year.

Insider Buying and Selling

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of the stock in a transaction 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 transaction, the director now directly owns 8,341 shares in the company, valued at approximately $408,709. This trade represents a 10.71 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 6.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of FBIZ. R Squared Ltd acquired a new position in First Business Financial Services in the fourth quarter valued at approximately $49,000. SG Americas Securities LLC acquired a new position in shares of First Business Financial Services in the 3rd quarter valued at $125,000. Squarepoint Ops LLC bought a new position in shares of First Business Financial Services in the 2nd quarter worth $204,000. ERn Financial LLC bought a new stake in First Business Financial Services in the third quarter valued at about $210,000. Finally, Creative Planning acquired a new position in First Business Financial Services in the third quarter valued at about $216,000. Institutional investors own 60.07% of the company’s stock.

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.