First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $58.00 at Keefe, Bruyette & Woods

First Business Financial Services (NASDAQ:FBIZ) had its price objective lifted by Keefe, Bruyette & Woods from $53.00 to $58.00 in a research report report published on Wednesday morning,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

Other equities analysts have also issued reports about the stock. Piper Sandler lowered their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating on the stock in a research report on Tuesday, October 29th. StockNews.com upgraded shares of First Business Financial Services from a “hold” rating to a “buy” rating in a research report on Thursday, October 31st. Five analysts have rated the stock with a buy rating, According to data from MarketBeat, the company has an average rating of “Buy” and an average price target of $51.75.

First Business Financial Services Stock Performance

Shares of FBIZ opened at $50.30 on Wednesday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. The firm has a market cap of $417.24 million, a PE ratio of 10.79 and a beta of 0.86. The company’s 50 day simple moving average is $46.47 and its 200-day simple moving average is $41.97. First Business Financial Services has a 12-month low of $32.56 and a 12-month high of $52.22.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, October 24th. The financial services provider reported $1.24 earnings per share for the quarter, beating analysts’ consensus estimates of $1.20 by $0.04. First Business Financial Services had a net margin of 15.46% and a return on equity of 13.70%. The firm had revenue of $66.39 million for the quarter, compared to analyst estimates of $38.80 million. During the same period last year, the firm posted $1.17 EPS. As a group, equities analysts predict that First Business Financial Services will post 4.78 EPS for the current year.

First Business Financial Services Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Thursday, November 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date was Thursday, November 7th. First Business Financial Services’s dividend payout ratio (DPR) is currently 21.46%.

Insider Buying and Selling at First Business Financial Services

In other news, CEO Corey A. Chambas sold 40,000 shares of First Business Financial Services stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $48.81, for a total transaction of $1,952,400.00. Following the completion of the transaction, the chief executive officer now owns 112,750 shares of the company’s stock, valued at $5,503,327.50. The trade was a 26.19 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total value of $49,000.00. Following the transaction, the director now directly owns 8,341 shares of the company’s stock, valued at $408,709. This trade represents a 10.71 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 47,344 shares of company stock valued at $2,275,144. 6.20% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Price T Rowe Associates Inc. MD raised its stake in shares of First Business Financial Services by 2.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 18,946 shares of the financial services provider’s stock worth $711,000 after buying an additional 524 shares during the last quarter. Bank of New York Mellon Corp raised its stake in First Business Financial Services by 5.6% in the 2nd quarter. Bank of New York Mellon Corp now owns 37,891 shares of the financial services provider’s stock valued at $1,402,000 after purchasing an additional 1,998 shares during the last quarter. Geode Capital Management LLC raised its stake in First Business Financial Services by 1.3% in the 3rd quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock valued at $7,907,000 after purchasing an additional 2,200 shares during the last quarter. State Street Corp raised its stake in First Business Financial Services by 1.9% in the 3rd quarter. State Street Corp now owns 136,690 shares of the financial services provider’s stock valued at $6,232,000 after purchasing an additional 2,607 shares during the last quarter. Finally, SG Americas Securities LLC acquired a new position in First Business Financial Services in the 3rd quarter valued at about $125,000. Institutional investors and hedge funds own 60.07% of the company’s stock.

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.