First Business Financial Services (NASDAQ:FBIZ) Price Target Raised to $85.00

First Business Financial Services (NASDAQ:FBIZ) had its price objective raised by DA Davidson from $80.00 to $85.00 in a research report sent to investors on Monday morning,Benzinga reports. They currently have a buy rating on the financial services provider’s stock.

FBIZ has been the subject of a number of other reports. Weiss Ratings raised shares of First Business Financial Services from a “buy (a-)” rating to a “buy (a+)” rating in a research note on Thursday, October 8th. Raymond James Financial reiterated an “outperform” rating and issued a $83.00 target price on shares of First Business Financial Services in a report on Monday. Keefe, Bruyette & Woods reissued an “outperform” rating and issued a $74.00 target price (up from $68.00) on shares of First Business Financial Services in a research report on Monday, August 3rd. Finally, Piper Sandler boosted their price target on shares of First Business Financial Services from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Monday. One equities research analyst has rated the stock with a Strong Buy rating and four have issued a Buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus target price of $82.50.

First Business Financial Services Stock Up 0.8%

Shares of First Business Financial Services stock opened at $77.31 on Monday. First Business Financial Services has a 12-month low of $49.36 and a 12-month high of $79.53. The firm has a market capitalization of $643.91 million, a PE ratio of 11.35 and a beta of 0.68. The company has a quick ratio of 1.06, a current ratio of 1.02 and a debt-to-equity ratio of 0.48. The stock’s fifty day moving average is $71.45 and its 200-day moving average is $62.66.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, October 29th. The financial services provider reported $1.95 earnings per share for the quarter, beating analysts’ consensus estimates of $1.67 by $0.28. The business had revenue of $47.51 million during the quarter, compared to analyst estimates of $46.88 million. First Business Financial Services had a return on equity of 15.04% and a net margin of 19.93%. Equities analysts anticipate that First Business Financial Services will post 6.83 earnings per share for the current year.

First Business Financial Services Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, November 30th. Investors of record on Thursday, November 12th will be given a dividend of $0.34 per share. This represents a $1.36 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Thursday, November 12th. First Business Financial Services’s payout ratio is presently 19.97%.

Insider Transactions at First Business Financial Services

In related news, insider Jodi Chandler sold 675 shares of the stock in a transaction dated Thursday, August 27th. The stock was sold at an average price of $70.19, for a total value of $47,378.25. Following the completion of the sale, the insider directly owned 22,550 shares of the company’s stock, valued at approximately $1,582,784.50. This represents a 2.91% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 5.00% of the company’s stock.

Hedge Funds Weigh In On First Business Financial Services

Several institutional investors and hedge funds have recently bought and sold shares of FBIZ. BlackRock Inc. acquired a new position in shares of First Business Financial Services in the 2nd quarter valued at about $58,646,000. The Manufacturers Life Insurance Company purchased a new stake in shares of First Business Financial Services in the second quarter worth approximately $15,351,000. De Lisle Partners LLP purchased a new stake in shares of First Business Financial Services in the second quarter worth approximately $6,258,000. Vista Investment Management purchased a new stake in shares of First Business Financial Services in the second quarter worth approximately $3,307,000. Finally, Empowered Funds LLC acquired a new stake in shares of First Business Financial Services during the second quarter worth approximately $2,853,000. 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 is the bank holding company for First Business Bank, a commercial bank focused on serving small and middle-market businesses, business owners and professionals. The company provides relationship-based banking services through a specialized commercial banking model.

Its products and services include commercial and industrial loans, commercial real estate financing, equipment financing, Small Business Administration lending, business deposit accounts, treasury management and cash-management services.