First Business Financial Services (NASDAQ:FBIZ) Given New $63.00 Price Target at Keefe, Bruyette & Woods

First Business Financial Services (NASDAQ:FBIZ) had its price target upped by Keefe, Bruyette & Woods from $59.00 to $63.00 in a report issued on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued research reports about the company. Piper Sandler raised their price target on First Business Financial Services from $58.00 to $61.00 and gave the company an “overweight” rating in a research note on Tuesday, November 4th. Weiss Ratings restated a “buy (b)” rating on shares of First Business Financial Services in a report on Thursday, January 22nd. Four equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, First Business Financial Services currently has a consensus rating of “Buy” and an average price target of $64.00.

First Business Financial Services Price Performance

First Business Financial Services stock opened at $58.84 on Monday. The stock has a market cap of $489.55 million, a price-to-earnings ratio of 9.89 and a beta of 0.76. The firm has a 50-day moving average of $55.56 and a two-hundred day moving average of $52.32. First Business Financial Services has a 1 year low of $42.18 and a 1 year high of $59.85. The company has a debt-to-equity ratio of 0.77, a current ratio of 1.03 and a quick ratio of 1.03.

First Business Financial Services (NASDAQ:FBIZ) last announced its quarterly earnings results on Thursday, January 29th. The financial services provider reported $1.58 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.38 by $0.20. The firm had revenue of $42.22 million during the quarter, compared to analyst estimates of $43.10 million. First Business Financial Services had a return on equity of 15.05% and a net margin of 18.02%. On average, research analysts forecast that First Business Financial Services will post 5.43 earnings per share for the current year.

First Business Financial Services Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Saturday, February 28th. Investors of record on Saturday, February 14th will be paid a dividend of $0.34 per share. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.29. The ex-dividend date is Friday, February 13th. This represents a $1.36 annualized dividend and a dividend yield of 2.3%. First Business Financial Services’s dividend payout ratio (DPR) is presently 19.50%.

Hedge Funds Weigh In On First Business Financial Services

Large investors have recently made changes to their positions in the business. Versant Capital Management Inc boosted its position in shares of First Business Financial Services by 163.2% in the 3rd quarter. Versant Capital Management Inc now owns 587 shares of the financial services provider’s stock worth $30,000 after purchasing an additional 364 shares in the last quarter. Hollencrest Capital Management boosted its holdings in First Business Financial Services by 198.0% in the second quarter. Hollencrest Capital Management now owns 611 shares of the financial services provider’s stock worth $31,000 after acquiring an additional 406 shares in the last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in First Business Financial Services in the third quarter worth about $33,000. State of Alaska Department of Revenue grew its stake in shares of First Business Financial Services by 174.2% during the fourth quarter. State of Alaska Department of Revenue now owns 905 shares of the financial services provider’s stock worth $48,000 after acquiring an additional 575 shares during the last quarter. Finally, EverSource Wealth Advisors LLC increased its holdings in shares of First Business Financial Services by 32,175.0% during the second quarter. EverSource Wealth Advisors LLC now owns 1,291 shares of the financial services provider’s stock valued at $65,000 after acquiring an additional 1,287 shares in the last quarter. 60.07% of the stock is owned by institutional investors and hedge funds.

First Business Financial Services Company Profile

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.