First Business Financial Services (NASDAQ:FBIZ) Given New $59.00 Price Target at Keefe, Bruyette & Woods

First Business Financial Services (NASDAQ:FBIZ) had its price target decreased by Keefe, Bruyette & Woods from $60.00 to $59.00 in a report released on Monday,Benzinga reports. Keefe, Bruyette & Woods currently has an outperform rating on the financial services provider’s stock.

A number of other brokerages have also issued reports on FBIZ. Raymond James lifted their price target on First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a research note on Monday, February 3rd. Piper Sandler lifted their price target on First Business Financial Services from $58.00 to $63.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 4th. Finally, StockNews.com raised First Business Financial Services from a “hold” rating to a “buy” rating in a research note on Monday, February 3rd. Five research analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the company has a consensus rating of “Buy” and an average price target of $57.25.

First Business Financial Services Stock Down 0.4 %

Shares of FBIZ opened at $47.69 on Monday. The company has a current ratio of 1.09, a quick ratio of 1.08 and a debt-to-equity ratio of 1.16. First Business Financial Services has a 12 month low of $33.00 and a 12 month high of $56.46. The stock’s 50 day moving average is $48.14 and its two-hundred day moving average is $48.15. The firm has a market cap of $395.87 million, a P/E ratio of 9.14 and a beta of 0.67.

First Business Financial Services (NASDAQ:FBIZ) last issued its quarterly earnings data on Thursday, April 24th. The financial services provider reported $1.32 EPS for the quarter, beating the consensus estimate of $1.29 by $0.03. First Business Financial Services had a return on equity of 14.33% and a net margin of 16.86%. The company had revenue of $40.84 million for the quarter, compared to analyst estimates of $40.13 million. Analysts predict that First Business Financial Services will post 5.43 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, June 16th. Stockholders of record on Friday, May 30th will be issued a dividend of $0.29 per share. This represents a $1.16 annualized dividend and a dividend yield of 2.43%. First Business Financial Services’s dividend payout ratio is presently 21.09%.

Insider Activity

In related news, insider Daniel Ovokaitys sold 4,828 shares of the firm’s stock in a transaction dated Friday, February 7th. The shares were sold at an average price of $54.55, for a total transaction of $263,367.40. Following the completion of the sale, the insider now directly owns 7,718 shares in the company, valued at approximately $421,016.90. This trade represents a 38.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 5.10% of the company’s stock.

Institutional Investors Weigh In On First Business Financial Services

Several hedge funds and other institutional investors have recently bought and sold shares of FBIZ. Invesco Ltd. acquired a new stake in First Business Financial Services during the fourth quarter worth about $3,917,000. Hillsdale Investment Management Inc. increased its position in First Business Financial Services by 1,646.6% during the fourth quarter. Hillsdale Investment Management Inc. now owns 52,642 shares of the financial services provider’s stock worth $2,437,000 after purchasing an additional 49,628 shares during the last quarter. American Century Companies Inc. increased its position in First Business Financial Services by 43.5% during the fourth quarter. American Century Companies Inc. now owns 111,980 shares of the financial services provider’s stock worth $5,184,000 after purchasing an additional 33,957 shares during the last quarter. JPMorgan Chase & Co. increased its position in First Business Financial Services by 104.4% during the fourth quarter. JPMorgan Chase & Co. now owns 50,018 shares of the financial services provider’s stock worth $2,315,000 after purchasing an additional 25,550 shares during the last quarter. Finally, Fourthstone LLC increased its position in First Business Financial Services by 254.8% during the fourth quarter. Fourthstone LLC now owns 30,239 shares of the financial services provider’s stock worth $1,400,000 after purchasing an additional 21,715 shares during the last quarter. 60.07% of the stock is currently owned by institutional investors and hedge funds.

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.