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

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

A number of other analysts have also commented on the company. Raymond James lifted their price objective on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research report on Monday. Keefe, Bruyette & Woods raised their price objective on shares of First Business Financial Services from $58.00 to $60.00 and gave the stock an “outperform” rating in a report on Monday. Finally, Piper Sandler cut their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $56.25.

First Business Financial Services Stock Performance

Shares of NASDAQ:FBIZ traded up $0.85 during midday trading on Monday, hitting $52.51. The company’s stock had a trading volume of 54,724 shares, compared to its average volume of 29,763. 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 $53.79. The stock’s 50 day simple moving average is $47.48 and its 200 day simple moving average is $45.48. The stock has a market capitalization of $435.83 million, a price-to-earnings ratio of 10.06 and a beta of 0.88.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. As a group, research analysts anticipate that First Business Financial Services will post 5.24 earnings per share for the current year.

Insider Buying and Selling at First Business Financial Services

In related news, Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total transaction of $49,000.00. Following the transaction, the director now directly owns 8,341 shares in the company, valued at approximately $408,709. This represents a 10.71 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Corey A. Chambas sold 40,000 shares of the company’s stock in a transaction dated Thursday, November 7th. The stock was sold at an average price of $48.81, for a total transaction of $1,952,400.00. Following the completion of the sale, the chief executive officer now directly owns 112,750 shares of the company’s stock, valued at approximately $5,503,327.50. This trade represents a 26.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

Large investors have recently bought and sold shares of the business. R Squared Ltd acquired a new stake in First Business Financial Services during the fourth quarter worth about $49,000. SG Americas Securities LLC purchased a new position in shares of First Business Financial Services in the third quarter valued at approximately $125,000. Squarepoint Ops LLC acquired a new stake in First Business Financial Services in the second quarter valued at approximately $204,000. ERn Financial LLC acquired a new stake in First Business Financial Services during the third quarter worth approximately $210,000. Finally, Creative Planning purchased a new position in shares of First Business Financial Services during the third quarter worth approximately $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.