First Business Financial Services (NASDAQ:FBIZ) Raised to Buy at StockNews.com

StockNews.com upgraded shares of First Business Financial Services (NASDAQ:FBIZ - Free Report) from a hold rating to a buy rating in a research note issued to investors on Thursday morning.

FBIZ has been the topic of a number of other research reports. Piper Sandler lifted their price target on shares of First Business Financial Services from $44.00 to $56.00 and gave the stock an overweight rating in a research note on Monday, July 29th. Keefe, Bruyette & Woods reissued an outperform rating and issued a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a research note on Monday, July 29th. Finally, DA Davidson upgraded shares of First Business Financial Services from a neutral rating to a buy rating and raised their price target for the stock from $36.00 to $50.00 in a research note on Monday, August 5th. Five investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has an average rating of Buy and an average price target of $50.75.

First Business Financial Services Stock Performance

NASDAQ FBIZ traded down $0.10 during midday trading on Thursday, hitting $42.05. The company had a trading volume of 12,440 shares, compared to its average volume of 15,069. The firm has a fifty day simple moving average of $43.26 and a two-hundred day simple moving average of $38.46. The stock has a market cap of $348.55 million, a price-to-earnings ratio of 9.69 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 has a fifty-two week low of $28.35 and a fifty-two week high of $47.23.

First Business Financial Services (NASDAQ:FBIZ - Get Free Report) last issued its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.09 by $0.14. First Business Financial Services had a return on equity of 13.87% and a net margin of 15.66%. The firm had revenue of $65.34 million for the quarter, compared to analyst estimates of $36.73 million. Equities analysts forecast that First Business Financial Services will post 4.71 earnings per share for the current fiscal year.

First Business Financial Services Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Investors of record on Thursday, August 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 2.38%. The ex-dividend date was Thursday, August 8th. First Business Financial Services's dividend payout ratio is currently 23.04%.

Institutional Trading of First Business Financial Services

Several hedge funds have recently modified their holdings of FBIZ. Lazard Asset Management LLC bought a new stake in First Business Financial Services during the 1st quarter worth approximately $60,000. SG Americas Securities LLC bought a new position in shares of First Business Financial Services in the third quarter worth about $125,000. BNP Paribas Financial Markets lifted its position in shares of First Business Financial Services by 73.1% during the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider's stock worth $147,000 after purchasing an additional 1,659 shares in the last quarter. Squarepoint Ops LLC bought a new stake in shares of First Business Financial Services during the second quarter valued at approximately $204,000. Finally, Quadrature Capital Ltd bought a new stake in shares of First Business Financial Services during the first quarter valued at approximately $247,000. 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.