Piper Sandler Cuts First Business Financial Services (NASDAQ:FBIZ) Price Target to $53.00

First Business Financial Services (NASDAQ:FBIZ - Free Report) had its price objective decreased by Piper Sandler from $56.00 to $53.00 in a research report sent to investors on Tuesday morning, Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider's stock.

Several other equities research analysts also recently weighed in on the stock. StockNews.com downgraded shares of First Business Financial Services from a "buy" rating to a "hold" rating in a research report on Wednesday, October 23rd. Keefe, Bruyette & Woods reissued an "outperform" rating and set a $51.00 price target (up previously from $48.00) on shares of First Business Financial Services in a research report on Monday, July 29th. Finally, DA Davidson raised shares of First Business Financial Services from a "neutral" rating to a "buy" rating and raised their price target for the company from $36.00 to $50.00 in a research report on Monday, August 5th. One analyst has rated the stock with a hold rating and four have assigned a buy rating to the company. According to MarketBeat.com, First Business Financial Services has a consensus rating of "Moderate Buy" and an average target price of $50.00.

First Business Financial Services Stock Down 1.2 %

Shares of NASDAQ FBIZ traded down $0.53 on Tuesday, reaching $44.25. 12,617 shares of the company's stock traded hands, compared to its average volume of 15,376. First Business Financial Services has a 12 month low of $29.80 and a 12 month high of $47.23. The business's 50 day simple moving average is $43.96 and its two-hundred day simple moving average is $39.28. The company has a market cap of $366.79 million, a price-to-earnings ratio of 10.31 and a beta of 0.82. The company has a quick ratio of 1.07, a current ratio of 1.08 and a debt-to-equity ratio of 1.12.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last announced its earnings results 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 15.66% and a return on equity of 13.87%. The business had revenue of $66.39 million during the quarter, compared to the consensus estimate of $38.80 million. During the same quarter last year, the firm earned $1.17 earnings per share. As a group, equities research analysts forecast that First Business Financial Services will post 4.7 EPS for the current fiscal year.

Institutional Investors Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP boosted its holdings in First Business Financial Services by 1.5% in the second quarter. Dimensional Fund Advisors LP now owns 537,808 shares of the financial services provider's stock worth $19,893,000 after purchasing an additional 7,871 shares during the last quarter. Vanguard Group Inc. boosted its holdings in First Business Financial Services by 2.1% in the first quarter. Vanguard Group Inc. now owns 361,070 shares of the financial services provider's stock worth $13,540,000 after purchasing an additional 7,499 shares during the last quarter. First Business Financial Services Inc. boosted its holdings in First Business Financial Services by 1.2% in the second quarter. First Business Financial Services Inc. now owns 353,718 shares of the financial services provider's stock worth $13,084,000 after purchasing an additional 4,196 shares during the last quarter. Pacific Ridge Capital Partners LLC boosted its holdings in First Business Financial Services by 1.7% in the first quarter. Pacific Ridge Capital Partners LLC now owns 169,903 shares of the financial services provider's stock worth $6,371,000 after purchasing an additional 2,894 shares during the last quarter. Finally, Empowered Funds LLC boosted its stake in shares of First Business Financial Services by 7.8% during the 1st quarter. Empowered Funds LLC now owns 41,101 shares of the financial services provider's stock worth $1,541,000 after acquiring an additional 2,975 shares during the last quarter. Hedge funds and other institutional investors 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.