Keefe, Bruyette & Woods Reiterates “Outperform” Rating for First Business Financial Services (NASDAQ:FBIZ)

Keefe, Bruyette & Woods restated their outperform rating on shares of First Business Financial Services (NASDAQ:FBIZ) in a report released on Monday, Benzinga reports. The brokerage currently has a $51.00 price objective on the financial services provider’s stock, up from their previous price objective of $48.00.

FBIZ has been the subject of a number of other research reports. StockNews.com cut shares of First Business Financial Services from a buy rating to a hold rating in a report on Wednesday, July 24th. Piper Sandler raised their price objective on shares of First Business Financial Services from $44.00 to $56.00 and gave the company an overweight rating in a report on Monday.

First Business Financial Services Trading Down 5.0 %

FBIZ opened at $43.73 on Monday. First Business Financial Services has a twelve month low of $28.35 and a twelve month high of $47.23. The company has a 50-day simple moving average of $37.10 and a 200 day simple moving average of $35.83. The company has a quick ratio of 1.09, a current ratio of 1.08 and a debt-to-equity ratio of 1.12. The stock has a market capitalization of $362.48 million, a price-to-earnings ratio of 10.08 and a beta of 0.83.

First Business Financial Services (NASDAQ:FBIZ) last posted its earnings results on Thursday, July 25th. The financial services provider reported $1.23 EPS for the quarter, topping analysts’ consensus estimates of $1.09 by $0.14. The firm had revenue of $65.34 million during the quarter, compared to analysts’ expectations of $36.73 million. First Business Financial Services had a net margin of 15.66% and a return on equity of 13.87%. Analysts predict that First Business Financial Services will post 4.61 EPS for the current fiscal year.

First Business Financial Services Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 21st. Investors of record on Thursday, August 8th will be issued a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a yield of 2.29%. First Business Financial Services’s dividend payout ratio (DPR) is presently 23.04%.

Insider Activity at First Business Financial Services

In other First Business Financial Services news, Director William Kent Lorenz sold 1,345 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $34.51, for a total transaction of $46,415.95. Following the completion of the sale, the director now owns 9,836 shares of the company’s stock, valued at approximately $339,440.36. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 6.30% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. Vista Investment Management raised its holdings in First Business Financial Services by 0.6% during the 4th quarter. Vista Investment Management now owns 52,410 shares of the financial services provider’s stock worth $2,102,000 after purchasing an additional 301 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in 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 purchasing an additional 524 shares during the last quarter. SG Americas Securities LLC increased its stake in shares of First Business Financial Services by 28.1% in the 4th quarter. SG Americas Securities LLC now owns 4,280 shares of the financial services provider’s stock valued at $172,000 after acquiring an additional 938 shares in the last quarter. New York State Common Retirement Fund increased its stake in shares of First Business Financial Services by 70.7% in the 4th quarter. New York State Common Retirement Fund now owns 3,866 shares of the financial services provider’s stock valued at $155,000 after acquiring an additional 1,601 shares in the last quarter. Finally, Lazard Asset Management LLC bought a new stake in shares of First Business Financial Services in the 1st quarter valued at $60,000. 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.