Keefe, Bruyette & Woods Upgrades First Business Financial Services (NASDAQ:FBIZ) to “Outperform”

Keefe, Bruyette & Woods upgraded shares of First Business Financial Services (NASDAQ:FBIZ) from a market perform rating to an outperform rating in a report published on Sunday, Analyst Price Targets reports. They currently have $26.00 price target on the financial services provider’s stock, up from their previous price target of $23.00.

Several other brokerages have also recently issued reports on FBIZ. Raymond James upped their target price on shares of First Business Financial Services from $19.00 to $21.00 and gave the company an outperform rating in a report on Monday, October 26th. Zacks Investment Research cut shares of First Business Financial Services from a hold rating to a strong sell rating in a report on Tuesday, December 29th.

NASDAQ FBIZ opened at $20.52 on Friday. The company has a quick ratio of 1.21, a current ratio of 1.21 and a debt-to-equity ratio of 2.46. First Business Financial Services has a 52 week low of $12.86 and a 52 week high of $26.28. The stock has a market capitalization of $174.79 million, a PE ratio of 10.63 and a beta of 1.07. The firm has a 50 day moving average of $19.22 and a two-hundred day moving average of $17.39.

First Business Financial Services (NASDAQ:FBIZ) last issued its earnings results on Wednesday, January 27th. The financial services provider reported $0.71 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.59 by $0.12. First Business Financial Services had a net margin of 13.73% and a return on equity of 8.46%. On average, equities research analysts expect that First Business Financial Services will post 1.83 earnings per share for the current fiscal year.

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 18th. Investors of record on Monday, February 8th will be paid a dividend of $0.18 per share. This represents a $0.72 dividend on an annualized basis and a yield of 3.51%. The ex-dividend date is Friday, February 5th. First Business Financial Services’s dividend payout ratio is currently 24.63%.

Large investors have recently modified their holdings of the stock. BNP Paribas Arbitrage SA boosted its stake in First Business Financial Services by 335.1% during the 3rd quarter. BNP Paribas Arbitrage SA now owns 2,023 shares of the financial services provider’s stock worth $29,000 after purchasing an additional 1,558 shares during the period. Janney Montgomery Scott LLC acquired a new stake in First Business Financial Services during the 3rd quarter worth $240,000. Goldman Sachs Group Inc. acquired a new stake in First Business Financial Services during the 2nd quarter worth $283,000. Bank of America Corp DE boosted its stake in First Business Financial Services by 376.0% during the 2nd quarter. Bank of America Corp DE now owns 21,107 shares of the financial services provider’s stock worth $347,000 after purchasing an additional 16,673 shares during the period. Finally, Uncommon Cents Investing LLC acquired a new stake in First Business Financial Services during the 4th quarter worth $368,000. Hedge funds and other institutional investors own 63.09% 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. The company offers deposit products, such as non-interest-bearing transaction accounts, interest-bearing transaction accounts, money market accounts, time deposits, and certificates of deposit.

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