First Business Financial Services (NASDAQ:FBIZ) Downgraded by StockNews.com to “Hold”

StockNews.com lowered shares of First Business Financial Services (NASDAQ:FBIZ) from a buy rating to a hold rating in a research note published on Wednesday morning.

FBIZ has been the topic of several other reports. Piper Sandler upped their price target on 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 reaffirmed an outperform rating and issued a $51.00 target price (up 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 lifted 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 issued a buy rating to the company’s stock. Based on data from MarketBeat.com, First Business Financial Services currently has an average rating of Moderate Buy and an average price target of $50.75.

First Business Financial Services Trading Up 1.9 %

Shares of FBIZ opened at $42.83 on Wednesday. First Business Financial Services has a 1-year low of $28.35 and a 1-year high of $47.23. The firm has a market capitalization of $355.02 million, a price-to-earnings ratio of 9.87 and a beta of 0.82. The firm’s 50-day moving average price is $43.46 and its 200-day moving average price is $38.31. The company has a current ratio of 1.08, a quick ratio of 1.07 and a debt-to-equity ratio of 1.12.

First Business Financial Services (NASDAQ:FBIZ) last posted its quarterly earnings data on Thursday, July 25th. The financial services provider reported $1.23 earnings per share 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 business had revenue of $65.34 million for the quarter, compared to analysts’ expectations of $36.73 million. Sell-side analysts anticipate that First Business Financial Services will post 4.71 EPS for the current year.

First Business Financial Services Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, August 21st. Stockholders of record on Thursday, August 8th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.33%. First Business Financial Services’s dividend payout ratio is currently 23.04%.

Hedge Funds Weigh In On First Business Financial Services

Several large investors have recently modified their holdings of FBIZ. Lazard Asset Management LLC purchased a new stake in First Business Financial Services during the 1st quarter valued at about $60,000. SG Americas Securities LLC bought a new position in shares of First Business Financial Services in the third quarter worth approximately $125,000. BNP Paribas Financial Markets grew its holdings 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 valued at $147,000 after buying an additional 1,659 shares during 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. 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.