Keefe, Bruyette & Woods Issues Pessimistic Forecast for First Business Financial Services (NASDAQ:FBIZ) Stock Price

First Business Financial Services (NASDAQ:FBIZ) had its target price decreased by analysts at Keefe, Bruyette & Woods from $60.00 to $59.00 in a report issued on Monday,Benzinga reports. The firm currently has an “outperform” rating on the financial services provider’s stock. Keefe, Bruyette & Woods’ price objective suggests a potential upside of 21.65% from the stock’s previous close.

Several other equities analysts have also issued reports on FBIZ. Raymond James boosted 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. StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Finally, Piper Sandler raised their price target on First Business Financial Services from $58.00 to $63.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 4th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $57.25.

First Business Financial Services Price Performance

Shares of FBIZ stock opened at $48.50 on Monday. The firm’s 50 day moving average price is $48.04 and its two-hundred day moving average price is $48.15. 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 52-week low of $33.00 and a 52-week high of $56.46. The stock has a market cap of $402.60 million, a PE ratio of 9.29 and a beta of 0.67.

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

Insider Activity

In related news, insider Daniel Ovokaitys sold 4,828 shares of First Business Financial Services stock in a transaction that occurred on Friday, February 7th. The stock was sold at an average price of $54.55, for a total value of $263,367.40. Following the sale, the insider now owns 7,718 shares of the company’s stock, valued at approximately $421,016.90. This trade represents a 38.48 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On First Business Financial Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. First Business Financial Services Inc. boosted its stake in shares of First Business Financial Services by 2.8% during the 4th quarter. First Business Financial Services Inc. now owns 376,088 shares of the financial services provider’s stock worth $17,409,000 after buying an additional 10,176 shares during the last quarter. Geode Capital Management LLC raised its position in First Business Financial Services by 1.3% during the third quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock worth $7,907,000 after acquiring an additional 2,200 shares in the last quarter. Pacific Ridge Capital Partners LLC lifted its stake in First Business Financial Services by 3.9% in the 4th quarter. Pacific Ridge Capital Partners LLC now owns 157,761 shares of the financial services provider’s stock valued at $7,303,000 after purchasing an additional 5,892 shares during the last quarter. American Century Companies Inc. boosted its stake in shares of First Business Financial Services by 43.5% during the 4th quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock worth $5,184,000 after acquiring an additional 33,957 shares during the period. Finally, Bridgeway Capital Management LLC increased its holdings in shares of First Business Financial Services by 2.4% in the fourth quarter. Bridgeway Capital Management LLC now owns 90,421 shares of the financial services provider’s stock valued at $4,186,000 after purchasing an additional 2,156 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.