First Business Financial Services (NASDAQ:FBIZ) Downgraded by Zacks Investment Research to Sell

Zacks Investment Research cut shares of First Business Financial Services (NASDAQ:FBIZGet Rating) from a hold rating to a sell rating in a research note issued to investors on Friday, Zacks.com reports.

According to Zacks, “First Business Financial Services is the parent of the First Business family of companies, managing shareholder relations and providing access to capital for our operating entities. It provides its subsidiaries with cost-effective corporate services including human resources, finance, information technology, and marketing. Its companies include First Business Bank, First Business Bank – Milwaukee, First Business Trust & Investments, First Business Leasing, LLC, and First Business Capital Corp. “

Separately, StockNews.com started coverage on First Business Financial Services in a research note on Thursday, March 31st. They issued a buy rating for the company. One research analyst has rated the stock with a sell rating, one has given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of Hold and a consensus price target of $33.50.

FBIZ stock opened at $34.67 on Friday. The business has a fifty day moving average of $32.88 and a two-hundred day moving average of $31.26. The company has a quick ratio of 1.17, a current ratio of 1.17 and a debt-to-equity ratio of 1.78. The stock has a market cap of $292.27 million, a price-to-earnings ratio of 8.56 and a beta of 0.81. First Business Financial Services has a 52-week low of $25.50 and a 52-week high of $35.27.

First Business Financial Services (NASDAQ:FBIZGet Rating) last posted its earnings results on Thursday, April 28th. The financial services provider reported $1.02 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.91 by $0.11. First Business Financial Services had a return on equity of 16.00% and a net margin of 28.81%. As a group, sell-side analysts anticipate that First Business Financial Services will post 3.57 EPS for the current year.

In other news, Director Carla C. Chavarria acquired 755 shares of the company’s stock in a transaction dated Thursday, April 14th. The stock was acquired at an average cost of $33.27 per share, with a total value of $25,118.85. Following the completion of the purchase, the director now owns 3,966 shares of the company’s stock, valued at approximately $131,948.82. The acquisition was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Insiders own 6.10% of the company’s stock.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in FBIZ. Lazard Asset Management LLC acquired a new position in First Business Financial Services during the 4th quarter worth $26,000. Hillsdale Investment Management Inc. grew its stake in First Business Financial Services by 30.0% during the 4th quarter. Hillsdale Investment Management Inc. now owns 2,600 shares of the financial services provider’s stock worth $76,000 after purchasing an additional 600 shares in the last quarter. Russell Investments Group Ltd. grew its stake in First Business Financial Services by 105.5% during the 4th quarter. Russell Investments Group Ltd. now owns 3,905 shares of the financial services provider’s stock worth $113,000 after purchasing an additional 2,005 shares in the last quarter. JPMorgan Chase & Co. acquired a new position in First Business Financial Services during the 4th quarter worth $140,000. Finally, Trexquant Investment LP acquired a new position in First Business Financial Services during the 3rd quarter worth $234,000. 58.29% of the stock is owned by hedge funds and other institutional investors.

First Business Financial Services Company Profile (Get Rating)

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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit, as well as credit cards.

Featured Stories

Get a free copy of the Zacks research report on First Business Financial Services (FBIZ)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for First Business Financial Services Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for First Business Financial Services and related companies with MarketBeat.com's FREE daily email newsletter.