First Business Financial Services (NASDAQ:FBIZ) Cut to Hold at StockNews.com

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

A number of other analysts also recently weighed in on the company. Piper Sandler boosted their target price on First Business Financial Services from $44.00 to $56.00 and gave the stock an overweight rating in a research report on Monday, July 29th. DA Davidson upgraded shares of First Business Financial Services from a neutral rating to a buy rating and boosted their price objective for the stock from $36.00 to $50.00 in a report on Monday, August 5th. Finally, Keefe, Bruyette & Woods reaffirmed an outperform rating and set a $51.00 target price (up previously from $48.00) on shares of First Business Financial Services in a report on Monday, July 29th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, First Business Financial Services currently has an average rating of Moderate Buy and a consensus price target of $50.75.

First Business Financial Services Stock Performance

First Business Financial Services stock opened at $42.83 on Wednesday. First Business Financial Services has a fifty-two week low of $28.35 and a fifty-two week high of $47.23. The firm’s fifty day moving average price is $43.46 and its 200-day moving average price is $38.31. The stock has a market cap of $355.02 million, a P/E ratio of 9.87 and a beta of 0.82. The company has a debt-to-equity ratio of 1.12, a quick ratio of 1.07 and a current ratio of 1.08.

First Business Financial Services (NASDAQ:FBIZ) last released its quarterly earnings results on Thursday, July 25th. The financial services provider reported $1.23 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $36.73 million. On average, equities research analysts expect that First Business Financial Services will post 4.71 earnings per share for the current fiscal year.

First Business Financial Services Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 21st. Shareholders 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 yield of 2.33%. First Business Financial Services’s dividend payout ratio (DPR) is currently 23.04%.

Institutional Trading of First Business Financial Services

A number of institutional investors have recently made changes to their positions in FBIZ. Lazard Asset Management LLC purchased a new stake in First Business Financial Services during the 1st quarter valued at $60,000. SG Americas Securities LLC bought a new stake in shares of First Business Financial Services in the third quarter worth about $125,000. BNP Paribas Financial Markets grew its stake in shares of First Business Financial Services by 73.1% in the first quarter. BNP Paribas Financial Markets now owns 3,930 shares of the financial services provider’s stock worth $147,000 after purchasing an additional 1,659 shares during the last quarter. Squarepoint Ops LLC purchased a new position in First Business Financial Services during the 2nd quarter valued at about $204,000. Finally, Quadrature Capital Ltd bought a new position in First Business Financial Services during the 1st 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.