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

StockNews.com upgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a hold rating to a buy rating in a research report released on Thursday.

FBIZ has been the subject of several other research reports. Keefe, Bruyette & Woods restated an outperform rating and issued a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. DA Davidson upgraded shares of First Business Financial Services from a neutral rating to a buy rating and raised their target price for the stock from $36.00 to $50.00 in a report on Monday, August 5th. Finally, Piper Sandler raised their target price on shares of First Business Financial Services from $44.00 to $56.00 and gave the stock an overweight rating in a report on Monday, July 29th. Five research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has a consensus rating of Buy and an average target price of $50.75.

First Business Financial Services Price Performance

FBIZ stock opened at $43.69 on Thursday. First Business Financial Services has a 52 week low of $28.35 and a 52 week high of $47.23. 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 company has a fifty day simple moving average of $43.25 and a two-hundred day simple moving average of $38.57. The firm has a market capitalization of $362.15 million, a P/E ratio of 10.07 and a beta of 0.82.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, beating the consensus estimate of $1.09 by $0.14. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. The business had revenue of $65.34 million during the quarter, compared to analyst estimates of $36.73 million. Analysts anticipate that First Business Financial Services will post 4.7 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Thursday, August 8th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. First Business Financial Services’s payout ratio is 23.04%.

Institutional Investors Weigh In On First Business Financial Services

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Quadrature Capital Ltd bought a new stake in First Business Financial Services during the 1st quarter valued at about $247,000. Vanguard Group Inc. lifted its holdings in First Business Financial Services by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider’s stock valued at $13,540,000 after buying an additional 7,499 shares in the last quarter. Lazard Asset Management LLC bought a new stake in First Business Financial Services during the 1st quarter valued at about $60,000. Empowered Funds LLC increased its position in First Business Financial Services by 7.8% during the 1st quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider’s stock valued at $1,541,000 after purchasing an additional 2,975 shares during the period. Finally, BNP Paribas Financial Markets increased its position in First Business Financial Services by 73.1% during the 1st quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock valued at $147,000 after purchasing an additional 1,659 shares during the period. Institutional investors own 60.07% of the company’s stock.

First Business Financial Services Company Profile

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.