First Business Financial Services (NASDAQ:FBIZ) Receives Buy Rating from DA Davidson

DA Davidson reiterated their buy rating on shares of First Business Financial Services (NASDAQ:FBIZ) in a report published on Monday morning,Benzinga reports. They currently have a $65.00 target price on the financial services provider’s stock.

A number of other equities research analysts have also commented on the company. Piper Sandler reiterated an “overweight” rating and issued a $70.00 price target (up from $61.00) on shares of First Business Financial Services in a research report on Tuesday, February 3rd. Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $59.00 to $63.00 and gave the company an “outperform” rating in a research report on Monday, February 2nd. Weiss Ratings reiterated a “buy (b)” rating on shares of First Business Financial Services in a research report on Tuesday, April 21st. Finally, Raymond James Financial set a $64.00 price target on First Business Financial Services in a research report on Monday. Four research analysts have rated the stock with a Buy rating, According to data from MarketBeat, First Business Financial Services currently has a consensus rating of “Buy” and a consensus price target of $65.50.

First Business Financial Services Trading Up 1.9%

NASDAQ FBIZ opened at $57.08 on Monday. The business’s 50-day moving average price is $55.35 and its two-hundred day moving average price is $54.59. First Business Financial Services has a 12 month low of $45.90 and a 12 month high of $60.53. The firm has a market capitalization of $476.05 million, a PE ratio of 9.40 and a beta of 0.72. The company has a current ratio of 1.03, a quick ratio of 1.02 and a debt-to-equity ratio of 0.70.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, April 23rd. The financial services provider reported $1.44 EPS for the quarter, beating analysts’ consensus estimates of $1.42 by $0.02. First Business Financial Services had a return on equity of 14.83% and a net margin of 18.16%.The firm had revenue of $44.29 million for the quarter, compared to analyst estimates of $43.40 million. On average, analysts expect that First Business Financial Services will post 6.05 EPS for the current year.

First Business Financial Services Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Wednesday, May 6th will be given a dividend of $0.34 per share. The ex-dividend date is Wednesday, May 6th. This represents a $1.36 annualized dividend and a dividend yield of 2.4%. First Business Financial Services’s dividend payout ratio is presently 22.41%.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently made changes to their positions in the business. Invesco Ltd. boosted its position in shares of First Business Financial Services by 19.7% during the 4th quarter. Invesco Ltd. now owns 11,215 shares of the financial services provider’s stock valued at $609,000 after purchasing an additional 1,848 shares in the last quarter. Mercer Global Advisors Inc. ADV bought a new stake in shares of First Business Financial Services during the 4th quarter valued at about $219,000. Empowered Funds LLC boosted its position in shares of First Business Financial Services by 4.5% during the 4th quarter. Empowered Funds LLC now owns 38,327 shares of the financial services provider’s stock valued at $2,081,000 after purchasing an additional 1,666 shares in the last quarter. Vista Investment Management boosted its position in shares of First Business Financial Services by 0.8% during the 4th quarter. Vista Investment Management now owns 52,737 shares of the financial services provider’s stock valued at $2,864,000 after purchasing an additional 409 shares in the last quarter. Finally, Quadrature Capital Ltd bought a new stake in shares of First Business Financial Services during the 4th quarter valued at about $250,000. Institutional investors own 60.07% of the company’s stock.

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.