First Business Financial Services (NASDAQ:FBIZ) Stock Price Expected to Rise, Piper Sandler Analyst Says

First Business Financial Services (NASDAQ:FBIZ) had its target price upped by investment analysts at Piper Sandler from $57.00 to $58.00 in a research report issued to clients and investors on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the financial services provider’s stock. Piper Sandler’s price target would indicate a potential upside of 19.59% from the company’s current price.

A number of other equities research analysts also recently weighed in on FBIZ. Keefe, Bruyette & Woods lowered their price target on First Business Financial Services from $60.00 to $59.00 and set an “outperform” rating for the company in a report on Monday. StockNews.com raised shares of First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday, February 3rd. Finally, Raymond James lifted their price target on shares of First Business Financial Services from $52.00 to $62.00 and gave the company an “outperform” rating in a report on Monday, February 3rd. One research analyst has rated the stock with a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, First Business Financial Services currently has a consensus rating of “Moderate Buy” and an average target price of $57.25.

First Business Financial Services Price Performance

Shares of FBIZ stock opened at $48.50 on Monday. The firm has a fifty day moving average of $48.04 and a two-hundred day moving average of $48.15. The firm has a market cap of $402.60 million, a P/E ratio of 9.29 and a beta of 0.67. First Business Financial Services has a 1-year low of $33.00 and a 1-year high of $56.46. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings results on Thursday, April 24th. The financial services provider reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.29 by $0.03. The business had revenue of $40.84 million during the quarter, compared to the consensus estimate of $40.13 million. 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 5.43 earnings per share for the current fiscal year.

Insider Buying and Selling

In other First Business Financial Services news, insider Daniel Ovokaitys sold 4,828 shares of the company’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total value of $263,367.40. Following the completion of the transaction, the insider now owns 7,718 shares in the company, valued at approximately $421,016.90. This represents a 38.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 5.10% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

Hedge funds and other institutional investors have recently made changes to their positions in the business. Invesco Ltd. acquired a new position in First Business Financial Services during the 4th quarter worth $3,917,000. Hillsdale Investment Management Inc. lifted its holdings in First Business Financial Services by 1,646.6% in the fourth quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider’s stock worth $2,437,000 after purchasing an additional 49,628 shares during the period. American Century Companies Inc. grew its position in First Business Financial Services by 43.5% in the 4th quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock valued at $5,184,000 after buying an additional 33,957 shares in the last quarter. JPMorgan Chase & Co. increased its stake in First Business Financial Services by 104.4% during the 4th quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider’s stock valued at $2,315,000 after buying an additional 25,550 shares during the period. Finally, Fourthstone LLC raised its position in shares of First Business Financial Services by 254.8% during the 4th quarter. Fourthstone LLC now owns 30,239 shares of the financial services provider’s stock worth $1,400,000 after buying an additional 21,715 shares in the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.