First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $62.00

First Business Financial Services (NASDAQ:FBIZ) had its target price raised by Raymond James from $52.00 to $62.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an outperform rating on the financial services provider’s stock.

A number of other equities analysts have also recently commented on FBIZ. Keefe, Bruyette & Woods increased their target price on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a report on Monday. Piper Sandler cut their price objective on shares of First Business Financial Services from $56.00 to $53.00 and set an “overweight” rating for the company in a report on Tuesday, October 29th. Finally, StockNews.com lowered First Business Financial Services from a “buy” rating to a “hold” rating in a research note on Friday, January 24th. Five research analysts have rated the stock with a buy rating, Based on data from MarketBeat, First Business Financial Services currently has a consensus rating of “Buy” and an average target price of $58.75.

First Business Financial Services Trading Up 1.3 %

Shares of First Business Financial Services stock opened at $54.81 on Monday. The company has a market cap of $454.92 million, a P/E ratio of 10.50 and a beta of 0.88. First Business Financial Services has a fifty-two week low of $32.56 and a fifty-two week high of $54.95. The company has a debt-to-equity ratio of 1.16, a quick ratio of 1.08 and a current ratio of 1.09. The firm has a 50-day simple moving average of $47.57 and a two-hundred day simple moving average of $45.66.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, January 30th. The financial services provider reported $1.43 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.27 by $0.16. First Business Financial Services had a net margin of 16.86% and a return on equity of 14.33%. As a group, equities analysts predict that First Business Financial Services will post 5.24 earnings per share for the current fiscal year.

First Business Financial Services Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Shareholders of record on Friday, February 14th will be given a $0.29 dividend. The ex-dividend date of this dividend is Friday, February 14th. This represents a $1.16 dividend on an annualized basis and a yield of 2.12%. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.25. First Business Financial Services’s dividend payout ratio is presently 19.16%.

Insider Activity

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $49.00, for a total transaction of $49,000.00. Following the transaction, the director now directly owns 8,341 shares in the company, valued at $408,709. This represents a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 6.20% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

Several hedge funds have recently bought and sold shares of FBIZ. SG Americas Securities LLC boosted its stake in shares of First Business Financial Services by 24.8% in the fourth quarter. SG Americas Securities LLC now owns 3,412 shares of the financial services provider’s stock valued at $158,000 after purchasing an additional 679 shares during the period. R Squared Ltd acquired a new stake in First Business Financial Services in the fourth quarter valued at $49,000. Bank of New York Mellon Corp boosted its position in shares of First Business Financial Services by 5.3% during the 4th quarter. Bank of New York Mellon Corp now owns 33,109 shares of the financial services provider’s stock worth $1,533,000 after acquiring an additional 1,653 shares in the last quarter. Empowered Funds LLC boosted its holdings in First Business Financial Services by 5.0% in the fourth quarter. Empowered Funds LLC now owns 45,021 shares of the financial services provider’s stock valued at $2,084,000 after purchasing an additional 2,156 shares in the last quarter. Finally, Geode Capital Management LLC lifted its position in shares of First Business Financial Services by 1.3% during the 3rd quarter. Geode Capital Management LLC now owns 173,404 shares of the financial services provider’s stock worth $7,907,000 after buying an additional 2,200 shares during the last quarter. Institutional investors and hedge funds own 60.07% of the company’s stock.

About First Business Financial Services

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.