First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $63.00

First Business Financial Services (NASDAQ:FBIZ) had its target price increased by Piper Sandler from $58.00 to $63.00 in a report published on Tuesday morning,Benzinga reports. Piper Sandler currently has an overweight rating on the financial services provider’s stock.

Other equities research analysts have also issued research reports about the company. Keefe, Bruyette & Woods upped their price target on First Business Financial Services from $58.00 to $60.00 and gave the company an “outperform” rating in a research report on Monday. StockNews.com upgraded First Business Financial Services from a “hold” rating to a “buy” rating in a report on Monday. Finally, Raymond James raised their price target on shares of First Business Financial Services from $52.00 to $62.00 and gave the stock an “outperform” rating in a report on Monday. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company presently has an average rating of “Buy” and a consensus target price of $58.75.

First Business Financial Services Stock Up 2.8 %

Shares of NASDAQ FBIZ opened at $56.35 on Tuesday. The company has a 50 day simple moving average of $47.65 and a 200 day simple moving average of $45.72. The company has a debt-to-equity ratio of 1.16, a current ratio of 1.09 and a quick ratio of 1.08. First Business Financial Services has a 1 year low of $32.56 and a 1 year high of $56.38. The firm has a market cap of $467.42 million, a PE ratio of 10.80 and a beta of 0.88.

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 the consensus estimate 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%. On average, research analysts forecast that First Business Financial Services will post 5.24 EPS for the current year.

First Business Financial Services Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, February 28th. Investors of record on Friday, February 14th will be paid a dividend of $0.29 per share. The ex-dividend date is Friday, February 14th. This represents a $1.16 annualized dividend and a yield of 2.06%. This is a boost from First Business Financial Services’s previous quarterly dividend of $0.25. First Business Financial Services’s dividend payout ratio (DPR) is currently 22.22%.

Insiders Place Their Bets

In other First Business Financial Services news, Director William Kent Lorenz sold 1,000 shares of First Business Financial Services stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $49.00, for a total value of $49,000.00. Following the completion of the sale, the director now directly owns 8,341 shares of the company’s stock, valued at approximately $408,709. The trade was a 10.71 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 6.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On First Business Financial Services

A number of institutional investors and hedge funds have recently made changes to their positions in FBIZ. Squarepoint Ops LLC acquired a new position in First Business Financial Services during the 2nd quarter worth approximately $204,000. SG Americas Securities LLC acquired a new position in shares of First Business Financial Services during the third quarter worth approximately $125,000. Creative Planning bought a new position in shares of First Business Financial Services in the 3rd quarter worth $216,000. ERn Financial LLC acquired a new stake in First Business Financial Services in the 3rd quarter valued at $210,000. Finally, Beese Fulmer Investment Management Inc. bought a new stake in First Business Financial Services during the 3rd quarter valued at $217,000. Institutional investors 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.