First Business Financial Services (NASDAQ:FBIZ) Given “Buy” Rating at DA Davidson

DA Davidson reaffirmed their buy rating on shares of First Business Financial Services (NASDAQ:FBIZ) in a research report sent to investors on Monday morning,Benzinga reports. DA Davidson currently has a $68.00 target price on the financial services provider’s stock.

Other research analysts have also issued reports about the company. Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Keefe, Bruyette & Woods upped their target price on shares of First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a research note on Monday. Finally, Piper Sandler increased their price target on shares of First Business Financial Services from $58.00 to $61.00 and gave the company an “overweight” rating in a report on Tuesday, November 4th. Four investment analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus price target of $64.00.

First Business Financial Services Trading Up 2.7%

Shares of NASDAQ:FBIZ opened at $58.84 on Monday. The company has a market cap of $489.55 million, a P/E ratio of 9.89 and a beta of 0.76. The stock’s 50-day moving average is $55.56 and its 200-day moving average is $52.32. First Business Financial Services has a 52-week low of $42.18 and a 52-week high of $59.85. The company has a debt-to-equity ratio of 0.77, a quick ratio of 1.03 and a current ratio of 1.03.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, January 29th. The financial services provider reported $1.58 earnings per share for the quarter, topping the consensus estimate of $1.38 by $0.20. First Business Financial Services had a return on equity of 15.05% and a net margin of 18.02%.The business had revenue of $42.22 million during the quarter, compared to analysts’ expectations of $43.10 million. Equities research analysts predict that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Saturday, February 28th. Shareholders of record on Saturday, February 14th will be paid a dividend of $0.34 per share. This is an increase from First Business Financial Services’s previous quarterly dividend of $0.29. This represents a $1.36 dividend on an annualized basis and a yield of 2.3%. The ex-dividend date is Friday, February 13th. First Business Financial Services’s dividend payout ratio is presently 19.50%.

Hedge Funds Weigh In On First Business Financial Services

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Vanguard Group Inc. boosted its position in shares of First Business Financial Services by 6.8% during the 3rd quarter. Vanguard Group Inc. now owns 481,681 shares of the financial services provider’s stock valued at $24,691,000 after acquiring an additional 30,499 shares in the last quarter. Geode Capital Management LLC lifted its stake in First Business Financial Services by 4.4% during the second quarter. Geode Capital Management LLC now owns 185,361 shares of the financial services provider’s stock worth $9,392,000 after purchasing an additional 7,797 shares during the period. American Century Companies Inc. boosted its holdings in First Business Financial Services by 17.3% during the second quarter. American Century Companies Inc. now owns 171,490 shares of the financial services provider’s stock valued at $8,688,000 after purchasing an additional 25,260 shares in the last quarter. Cutler Capital Management LLC grew its stake in shares of First Business Financial Services by 0.3% in the 2nd quarter. Cutler Capital Management LLC now owns 155,799 shares of the financial services provider’s stock valued at $7,893,000 after purchasing an additional 400 shares during the period. Finally, LSV Asset Management raised its holdings in shares of First Business Financial Services by 44.6% in the 3rd quarter. LSV Asset Management now owns 124,389 shares of the financial services provider’s stock worth $6,376,000 after buying an additional 38,364 shares in the last quarter. 60.07% of the stock is owned by institutional investors.

About First Business Financial Services

First Business Financial Services, Inc (NASDAQ:FBIZ) is a bank holding company headquartered in Madison, Wisconsin, offering a suite of commercial banking and financial services. Through its wholly owned subsidiary, First Business Bank, the company provides relationship-driven lending, deposit and treasury management solutions to small and mid-sized businesses, nonprofit organizations and high-net-worth individuals. Its core products include commercial real estate financing, equipment leasing, SBA-guaranteed lending, and cash management services.

In addition to lending and depository services, First Business Bank delivers investment advisory and wealth management through dedicated trust and private banking teams.